Lannett Company Inc. (fka LCINQ)

[NASDAQ2020]

Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (OTCQB:ELTP) a specialty pharmaceutical company developing niche generic products, announced today that marketing partner Lannett Company, Inc. ("Lannett"), has commenced product launch of Elite's generic version of Adderall XR®, an extended-release mixed salt of a single entity Amphetamine product (Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, Amphetamine Sulfate) with strengths of 5 mg, 10 mg, 15 mg, 20 mg, 25 mg, and 30 mg capsules. Adderall XR®, including generic versions, have an estimated IQVIA™ market value of approximately $1.3 billion for the twelve months ending January 2020 . Adderall XR® is a once-daily central nervous system stimulant and is indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD).
This generic Adderall XR® product is jointly owned by Elite and SunGen Pharma LLC ("SunGen") and is the second product launched from their collaboration. Elite will manufacture and package the generic product on a cost-plus basis. Lannett Company, Inc. will be the exclusive U.S. distributor for the product and will provide sales, marketing, and distribution.