Elite Pharmaceuticals Inc (ELTP)

[Jimmy Joe]

Thanks for the read N2K. Schumpeter's creative destruction is food for thought.

"Herein lies the paradox of progress. A society cannot reap the rewards of creative destruction without accepting that some individuals might be worse off, not just in the short term, but perhaps forever. At the same time, attempts to soften the harsher aspects of creative destruction by trying to preserve jobs or protect industries will lead to stagnation and decline, short-circuiting the march of progress. Schumpeter’s enduring term reminds us that capitalism’s pain and gain are inextricably linked. The process of creating new industries does not go forward without sweeping away the preexisting order."

Just highlighted this paragraph. I see where many points in this paragraph apply to the opioid ADF situation. One such point could be Big Pharmas without viable ADFs for their opioids may be worse off once something is introduced that may help solve a particular problem. A better mouse trap is needed.

He cites the steel industry and transportation as examples of creative destruction. Maybe I missed it while skimming but WWII
was also important in bringing about innovation for many things
including medicines.

With the current prescription opioid/heroin problem at the forefront it is companies like Elite who are creating solutions for existing problems so that society as a whole may benefit.



Good read.....
Thank you.
JJ