Elite Pharmaceuticals Inc (ELTP)

[kayak_wench]

From the articles yesterday on Pfizer's decision most are guessing that the new drug to be backed will be Pfizer's ALO-02. But this is not new in the sense that everyone hasn't been hearing about it for some time. Including Elite's CEO. There is plenty of room in the market for a few drugs. All we need is approval. If we get approved on the first try we will beat ALO-02 to market, a good thing, but not the end of the world if we don't.

"Pfizer just demonstrated positive Phase 3 data on ALO-02 earlier this year. Results of the Phase 3 study demonstrate a statistically significant difference in pain scores in patients with moderate-to-severe chronic low back pain receiving ALO-02 versus placebo. Previous studies demonstrate lower abuse potential of ALO-02 in recreational opioid users by oral and intranasal routes when compared to immediate-release oxycodone. ALO-02 will complete directly with REMOXY."