Elite Pharmaceuticals Inc (ELTP)

[Opportunity Strikes]

Not a new update but still good information, did anyone here by chance attend the conference call back on the 10th?

Elite Pharmaceuticals, Inc. Reports Strong Growth for Second Quarter of Fiscal Year 2016

Webcast and Conference Call Scheduled for Tuesday, November 10th at 11:00 AM EST


NORTHVALE, N.J., Nov. 09, 2015 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (OTCBB:ELTP), announced results for the quarter ended September 30, 2015, the second quarter of its 2016 fiscal year.

Consolidated revenues for the second quarter of Fiscal 2016 were $2.7 million, a 115% increase on a year-on-year basis. The increase in revenues is due to the continued growth of Elite's niche generic product lines. During the quarter, Elite invested an additional $4.2 million in the development of ELI-200, the first product in Elite's line of abuse-deterrent opioids.

In October, Elite announced positive top-line results from the Phase 3 pivotal trial of its lead abuse-deterrent opioid, ELI-200, for the treatment of moderate to severe pain. The Company is on schedule to file a New Drug Application with the U.S. Food and Drug Administration later this year. Elite will provide an update of development activities during the conference call.

"Another outstanding quarter. Our generic products set another revenue record, and we successfully completed Phase 3 trials for ELI-200," commented Nasrat Hakim, President and CEO of Elite. "Elite has never been stronger as we steadily move towards the filing of ELI-200 this year, the expected launch next year and the continued development of a range of abuse deterrent opioids."

About Elite's Abuse Deterrent Technology

Elite's proprietary abuse deterrent technology, ART™, is a multi-particulate capsule which contains an opioid agonist in addition to naltrexone, an opioid antagonist used primarily in the management of alcohol dependence and opioid dependence. When this product is taken as intended, the naltrexone is designed to pass through the body unreleased while the opioid agonist releases as intended providing therapeutic pain relief for which it is prescribed. If the multi-particulate beads are crushed or dissolved, the opioid antagonist is designed to release and so block the effects of active opioid agonist. The absorption of the naltrexone is intended to block the euphoria by preferentially binding to the same receptors in the brain as the opioid agonist and thereby reducing the incentive for abuse or misuse by recreational drug abusers. Elite's pharmacological approach to abuse-deterrence can be applied to a wide range of opioids used today in pain management.

Conference Call Information

Elite's management will host a conference call to discuss the results of operations and provide an update on recent business developments: Company executives will conduct a question and answer session following their remarks.

Date: Tuesday, November 10, 2015
Time: 11:00 a.m. EST
Webcast (live and archive) & Audio Replay: http://ir.elitepharma.com/events_presentations

http://ir.elitepharma.com/profiles/investor/ResLibraryView.asp?ResLibraryID=79776&BzID=2258&t=1948&g=939&Nav=0&LangID=1&s=0