Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
What mechanism do you propose to get rid of the “Mikah tax”?
Hakim is worried about the Mikah Tax
Maybe it is because of my question - I asked Nasrat if he planned to take actions against the shorts on ihub that post that he will go to jail. I posted that because I wanted to scare eatman, the fool and the fake king ...
he probably has to wait to adopt things when they become 'the standard of care'. But that takes a long time because it involves multiple steps, including rigorous testing, regulatory approval, and widespread clinical acceptance. The people who get the better treatments/drugs are the ones that have extra money, dig deeper and whose doctors are looking a bit over the horizon at what is going to be the standard of care.
I personally know of two people taking naltrexone and loving it. One of whom I have known for decades and watched progress from healthy to overweight and sloppy. Neither would have ever considered stopping or going to any meeting. Neither are the alcoholic like you describe. Both leapt at that chance to take a pill and eliminate the desire to over drink. The also very much wanted to lose weight and did (about 30 pounds each as they were drinking beer). Plus the got their spouses to quit bitching. One had a fatty liver heal up. Not sure whether it was from less alcohol or less weight but it was good! They still drink which is what they wanted to able to do. They just don’t have the urge or desire to keep going and going. They used the oarhealth website so it was all online. They got an entire year of the drug at once. You doctors who think they know everything are the problem!!!
If someone wants naltrexone because they want it to help them drink less, for the love of god just give it to them. Cutting back from 6 beers a day to 2 beers a day is a healthy life choice and may prevent future related maladies (cancer, ulcer, etc). The worse that can happen is that they have more money in their wallet, weigh less, and their family members are happier they don't hit the bar after work every day and come home a bit lit. Plus there will be one more close to drunk person off the road.
Isn't Weezhul a ER doctor? If so I wonder if he ever prescribes it for drunks he treats. My guess is he will have some excuse as to why he doesn't/shouldn't because it doesn't seem like he listens to anyone and this wouldn't be something he was likely to be taught in school. But wouldn't it be wonderful for his patients if I was wrong?
Norco, Percocet, methadone will be transferred and prepared for market.
I can't stay on the call, but what I heard was these ANDA's will be commercialized without delay. This is all I wanted to hear. Great news.
.
Wow, a well thought out post on what Elite is doing well with no emotional flashbacks to what they should have/shouldn't have done in the past, or any accusations of how the CEO is committing crimes or conniving to take advantage of shareholders.
The reason many of us are supportive of Nasrat and believe he is working in the best interest of shareholders is because he is the one who has lead the company to be able to perform in the manner your so eloquently described. Not many generic drug companies have pulled off profitability while maintaining quality and performing within legal boundaries (unlike Nostrum).
5% is totally possible if these drugs are in the shortage list and Elite can deliver....
Even 10%... this is a more aggressive market than Adderal...
Nasrat mentioned on one of the calls that opioids are not covered by Elite’s current liability insurance. An insurance upgrade is needed before marketing these products.
Hydromorphone is in shortage currently. Interesting that Elite did not buy it back.
Obviously the original deal had a clause that elite was making the sale contingent on it being able to buy them back for the same price later. Nasrat unloaded risk, made some cash at a time we really needed it, and got it back later for same price when he wanted them. All the bitching and moaning by some here only to learn they were the morons to doubt the cleverness of our CEO!
Ka-ching!!...for those of us who believed him, kept our shares and piled on more in the 5cent and under range.
Updated January 23, 2024:
Although Nostrum and Mr. Mulye entered into a health care fraud settlement with the United States, they refused to agree to compliance-related oversight with HHS-OIG through a CIA. Therefore, as part of the Settlement Agreement, OIG reserved the right to exclude Nostrum and Mr. Mulye for the alleged conduct. Because they refused appropriate integrity obligations, OIG may use various tools to monitor their compliance with the Federal health care programs.
Nope, Nasrat didn't sell Elite's entire line of opiods. He loaned them out for 5 years...and got them back today for the same price. No worse for the wear, the danger of being sued behind us, Elite having a big ole new warehouse and packaging area to prepare and store all of them safely.
Huh? You making up crap now? Forgot how smart you are. Like my $600k last time?
Anyway, homeboy is a plant, an actor. That is obvious. Just a new ID, created to try and create FUD even though he/she has no idea what he is saying. That's the first clue.
Now the odd part is of course that you pounding on your chest about how smart you are , didn't pick up on that. Do you know each other? Lol
Good Morning JamesF1
Can someone more familiar with these studies comment on the dates?
This may be true, maybe not.
I can honestly say Steve Jobs wouldn’t have done a better job running this company than Nasrat Hakim over the last 2 years.
Prasco does not have its own amphetamine quota.
Prasco comes with its own quota.
I thought it was because he hit the rock with his stick to get water when the Hebrews were thirsty...
As a Value Line believer, it is obvious that a company's worth is mainly predicated on whether it earns MONEY and has indications of continuous GROWTH. Since Elite meets both criteria, smart people here will continue to accumulate for indeed like Moses, they will reach the promised land.
I’ve been to the mountaintop … I’ve seen the Promised Land. I may not get there with you. But I want you to know tonight, that we, as a people, will get to the Promised Land.
-MLK (He was murdered the next day.)
Elite's generic Adderall seems fairly well-liked online.
Can anyone comment on the issues Elite is having with their adderall generic drug? Apparently there are some nasty side effects and multiple reports submitted to the FDA. What does this mean for the company and how will they address this?
We agree on this, imanjen13.
When people show you who they are, believe them.
I am not disagreeing you about this, I think he will do what is right soon. We still should all do well.
I am going nowhere. I feel good about Hakim. No Hakim no elite. And you know it!!!
Since you are staying, great choice, you will do great like the rest of us. Less then 2 years.
Makes sense. You should sell since Hakim cannot be trusted and place your money where you feel will good about your investment.
DSherman thanks for re-reading my month-old post.
Hahaha, as usual one posts totally irrelevant links at the end of an irrelevant rant. Too funny!!!
FTC Requires Teva to Divest Over 75 Generic Drugs to Settle Competition Concerns Related to its Acquisition of Allergan’s Generic Business
July 27, 2016
The acquirers of the divested products are Mayne Pharma Group Ltd., Impax Laboratories, Inc., Dr. Reddy’s Laboratories Ltd., Sagent Pharmaceuticals, Inc., Cipla Limited, Zydus Worldwide DMCC, Mikah Pharma LLC, Perrigo Pharma International D.A.C., Aurobindo Pharma USA, Inc., Prasco LLC and 3M Company.
This SUPPLY AND DISTRIBUTION AGREEMENT (the “Agreement”), dated May 4, 2017 (the “Effective Date”), is by and between Dr. Reddy’s Laboratories Inc., organized and existing under the laws of New Jersey having an office at 107 College Road East, Princeton, New Jersey 08540 ("DRL") and Mikah Pharma, LLC, organized and existing under the laws of the State of Delaware, having an office at 20 Kilmer Drive, Hillsborough, New Jersey 08844 (“Mikah”). DRL and Mikah are each a “Party” and together constitute the “Parties” under this Agreement.
A whole lot of indemnification going on...
Dilution and indemnification, funny how often those two run in the same circles. Everyone recognizes the Mikah entanglements will present a major obstacle to Elite's acquisition. Here you see the company trying to protect the officers from what they know is coming. Instead of fairly and transparently dealing with this issue now while stock price is 15 cents, they will kick the can down the road farther and farther as the barrier to acquisition gets larger and larger. Why? Because Hakim has everything to gain, and shareholders have everything to lose.
Item 6. Indemnification of Directors and Officers
The Company’s bylaws provide that it will indemnify each of its directors, officers, employees and agents against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such director, officer, employee or agent in connection with any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the Company), relating to service for or at the request of the Company.
The Company’s bylaws also provide that it will advance expenses (including attorneys’ fees) incurred by any of its directors, officers, employees or agents defending an action, suit or proceeding, upon receipt of an undertaking by or on behalf of such director, officer, employee or agent to repay such amount if that director, officer, employee or agent is determined to not be entitled to indemnification.
The antimetabolite and the dopamine agonist could be any day.
Leflunomide Tablets USP (RLD: Arava® Tablets) had an annual salesof approximately USD 44 million in the U.S. (IQVIA MAT December 2019).
I personally see ONE thing: my money would have gone down the drain if Mikah/Nasrat had not stepped in and bough the Adderal from Sungen.
However, a big problem that I and many others have is his repetative stating as a FACT that Nasrat is a crook that has intentionally misled/stolen from the average shareholder. None of us know every little thing that has happened behind closed doors in regards to Elite, Mikah, the FDA, other partners of ours, changes in competition pricing, etc. Labeling him as perpetually evil/self serving is unwarranted, imo.
2. It would be hard to convince a judge that what Nasrat did was malicious when you see the results of his Mikah/ELTP transactions...
Lolololol, conflating the Musk case with Elite’s CEO successfully pulling the Co out of the gutter with his own money and the help of his other Co is laughable and extremely naive.
Once that very high threshold is met, the burden shifts entirely to the defendant board to demonstrate the transaction is inherently fair to the stockholders. And they have to demonstrate this in both the procedure and in substance itself of the deal. This is typically accomplished by a so-called “majority of the minority” vote: if independent directors present to the non-controlling shareholders the transaction in question and a majority of these shareholders ratify the deal, the deal is likely to not be reviewed by the court.
Maybe you should consider a hobby.
Like every morning - I google ELTP then Dexcel
A $55.8 Billion Lesson In The Entire Fairness Doctrine
Anat Alon-Beck
Jan 31, 2024,08:00am EST
The entire fairness standard is a Delaware corporate law special. It is at the core of the Delaware General Corporate Law (DGCL) and the surrounding precedent and has been accurately described as the “most onerous standard of review.” To even get to the point where entire fairness is triggered, a plaintiff must demonstrate that a majority of the directors of a company are “interested” in the transaction; in other words, not independent. Alternatively, if a plaintiff can show that a controlling shareholder is on both sides of a transaction, entire fairness can also be triggered. Once that very high threshold is met, the burden shifts entirely to the defendant board to demonstrate the transaction is inherently fair to the stockholders. And they have to demonstrate this in both the procedure and in substance itself of the deal. This is typically accomplished by a so-called “majority of the minority” vote: if independent directors present to the non-controlling shareholders the transaction in question and a majority of these shareholders ratify the deal, the deal is likely to not be reviewed by the court.
2014 is ancient history. Nasrat interpreted the study results differently than the FDA. Unfortunately, only the FDA's opinion matters. Moving ahead to 2024, the company is not only still in business, but growing rapidly. I prefer to look forward.
They got burned badly on SequestOx.
Elite Pharmaceuticals Reports Successful Pivotal Bioequivalence Study For Abuse Deterrent Product ELI-200
Northvale, New Jersey, Wednesday, March 05, 2014: Elite Pharmaceuticals, Inc. ("Elite" or the “Company") (OTCBB: ELTP) announced today successful results from a pivotal bioequivalence study initiated in January 2014 for Elite’s undisclosed abuse deterrent opioid product, ELI-200. The study results demonstrated Elite’s product is bioequivalent to the branded drug based on pharmacokinetic measures including peak concentration (Cmax) and area under the curve (AUC) for opioid blood plasma levels. The study was a single dose, open label, partially randomized, three-way cross over study in healthy volunteers with 42 subjects under fasted conditions and 38 subjects under fed conditions.
April 3, 2014
Dear Fellow Shareholders,
Having been a long time shareholder and close follower of Elite, it is an honor to be writing my first letter to our shareholders as Elite’s President and Chief Executive Officer...
The really significant change for Elite this year, however, was the accelerated development of the opioid abuse deterrent products. It is these products where I see a tremendous upside potential to create value for you, our shareholders. We have two opioid abuse deterrent products, ELI-200 and ELI-201, in human trials and an additional five abuse deterrent formulations under active development. We are very pleased with the success of the product trials in recent months. The ELI-201 pilot study showed that more than one of Elite’s formulations was bioequivalent to the brand product, and the ELI-200 pivotal study demonstrated bioequivalence of Elite’s product to the reference product....
To permit Elite to execute on our initiatives, I am asking in this proxy for an increase in authorized shares.
It has nothing to do with a typo.
A few posted a list of CEOs for your perusal. Cute pointing out a typo but realize that’s all you got. Also, I see you skipped over defending your friend’s ignorance.
Unnecessary.
Silly ignorance abounds re public Co knowledge. Quick question, why is your puny insignificant vote not needed??? It’s a math question, so I don’t really expect you to answer!!!
Was Zombie SeQuestox your idea~?
Dead Drug Walking. Kill Zombie SequestOx.
This drug has been dead since 2014. If not dead, it is severely wounded. Somebody should put it down and out of its misery since Nasrat cannot bring himself to do it. The upcoming meeting with the FDA should not be about some bullshit apple sauce trial. Rather, they should convince (beg) the FDA to allow for a re-submission with a reformulated oxy bead. The naltrexone bead stays the exact same, and its safety and effectiveness have been proven in the HAL studies and the two Phase 3 studies- bunionectomy and methadone withdrawal. Those studies stand valid as proof of the naltrexone bead. Re-do the oxy bead, get it right, redo pivotal bioequivalence, get approval with a clean label, and proceed on with an awesome product that doctors will feel comfortable prescribing.
Do the right thing, Nasrat. This is our flagship and you're going to encumber it with a bullshit label? Fix it now. You've already doubled-down on this zombie bead- don't waste more time and money on it. A new bead and a new pivotal bioequivalence wouldn't take much longer or cost much more than your apple sauce escapades. It is not too late to make this right.
You have not shown any instance where illegality occurred. You have not showed any instance where anyone was harmed and the opposite is true by 1000% where all investors are benefitting.
You have not showed any alternative that should have been taken that would have been better and you have no information to indicate that an alternative was available.
This one takes the cake.
WeeZuhl is worried about the FTC bringing up a monopoly lawsuit against Elite and Mikah!!!!
I don’t agree with you, but I do admit you present your point of view well. In summary your position is: Since Elite is doing well it pays for the tort shops to wait. The longer they wait, the bigger the pile of money to go after.