Elite Pharmaceuticals Inc (ELTP)

[julesnemo3]

Lasers- ELTP increased valuation and a much higher eventual buyout price might be inferred by some shareholders in the words "a clear path forward". Buyout has always been the game here.

The failure of some to take over ELTP and the poison pill seems to still upset some who claim to hold shares of ELTP. I find that amusing to this day.

Great things for ...Shareholders. NO hurries, no worries.

I remember buying ELTP heavily and then having the single product we owned removed by the FDA....and then the hostile take over attempt. That was fun. Now so many products are being sold by ELTP and many new products are under development. This buy and hold has been interesting but now it is getting fun. I am looking forward to a very nice 2017.

Good fortune to all ELTP Longs. Pennies to Dollars.


Elite Provides Update On SequestOx™ New Drug Application
NORTHVALE, N.J., Dec. 22, 2016 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (OTCBB:ELTP) today announced the Company met with the U.S. Food and Drug Administration (the "FDA") on December 21, 2016 for an end-of-review meeting to discuss steps that Elite can take to obtain approval of SequestOx™. Based on the FDA response, the Company believes there is a clear path forward to address the issues cited in the July 14th Complete Response Letter ("CRL"). The FDA will provide minutes of the meeting by the end of January and the Company will issue a further update at that time.

SequestOx™ (oxycodone hydrochloride and naltrexone hydrochloride) is Elite's investigational abuse-deterrent opioid candidate for the management of moderate to severe acute pain where the use of an opioid analgesic is appropriate. The proposed plan submitted by the Company addresses items cited in the CRL dated July 14, 2016 for the New Drug Application (the "NDA") for SequestOx™.

"We are extremely pleased that there is a path forward to seek FDA approval of SequestOx™," said Nasrat Hakim, President and CEO of Elite. "Based on the guidance received from the agency, Elite will begin to execute the proposed plan immediately."