Elite Pharmaceuticals Inc (ELTP)

[KravMD]

South Plainfield, NJ – March 30, 2016 – Humanwell Healthcare Group and PuraCap Pharmaceutical LLC announced today that the companies have entered into a definitive agreement to acquire 100% of the membership interests of Epic Pharma, LLC of Laurelton, NY for $550 million. The acquisition will further establish Humanwell and PuraCap in the US generics market and expand their existing commercial and manufacturing capabilities.
The acquisition of Epic will provide a robust generic product portfolio which includes tablets, 2-piece capsules and powder dosage form products as well as a future product portfolio that will include a series of controlled drug substances.....that last part sounds suspiciously like Elite.