Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

2011 Mikah agreement to contract manufacture isradipine and phendimetrazine

Funny thinking about the recent phendimetrazine ANDA approval. It was odd because nobody ever heard it was pending, and we already own an ANDA for the same drug. Mikah's phendimetrazine, now owned by Elite, launched under contract in Nov 2012. It was the only Mikah drug already manufactured by Elite when Nasrat became CEO in Aug 2013. The second ANDA, which was just recently approved, must have been from that brief window of time. In less than one year, Elite first screwed Nasrat then woo'ed Nasrat. Treppel used bioequivalent samples of Nasrat's drug to file Elite's own ANDA, and within a few months, Nasrat was made CEO. I think it is fair to say Jerry Treppel didn't know Nasrat was coming, but I bet the three Epic guys on the board probably did.



Comes around goes around. Nasrat later pulled the same trick with our contract methadone, and now Elite has its own methadone ANDA.