Elite Pharmaceuticals Inc (ELTP)

[Couch]

The company has filed a generic Percocet about 11 months ago, generic Norco about 7 months ago, another unknown generic pain product 3 months ago and and recently singed a developmental agreement for at least 5 generic products with Sungen. I'd say these recent events adds value to the company but not astronomical value.

I think what puts Elite into the 50 cent range would be Elite's generic OxyContin product. However, that hasn't been filed yet and will take at least another year to get approved from when they do file.

I believe if Elite were going to sell the whole business today - 50 cents would be a fair price. I think that would be too low however Elite needs to prove that it can file and get at least one or two of its own R&D drugs approved. To date, that hasn't happened.

Hope that helps.