Elite Pharmaceuticals Inc (ELTP)

[Investormax2009]

He was clearly pissed off. You could just hear the feelings of being misled by the FDA in his voice. He was frustrated IMHO because his team did not anticipate FDA flip flopping on efficacy with the fatty food dosage. I would not be surprised that he regrets saying No one will stop us because inevitably FDA could just issue the CRL as a slap to him for his confidence.

All that being said, I purchased more today and believe in the company and its leadership. I believe they were blind sided by FDA and frankly am surprised the team did not do the extra efficacy tests or labeling or both so that we avoided this. Just all around Nasrat sounded really controlled in his anger towards the FDA. I was happy to see how he handled it in the CC.

In the end, longs will prevail and I think by the end of 2016.

One more thing, the last CC on quarterly results put me a little off when he talked about not making product until we had approval and his CFO emphasized teh generic income pipeline so heavily. It sounded like they were preparing us for a possible delay - at least it seemed that way to me. My antennas went up on that call. All that being said I never sold any. We will be OK by year end IMHO. Max