Elite Pharmaceuticals Inc (ELTP): Nasrat was Right! It was a smart move...

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Elite Pharmaceuticals Inc (ELTP)

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Thursday, 04/09/2020 7:23:03 AM

Thursday, April 09, 2020 7:23:03 AM

Nasrat was Right!
It was a smart move to sell Elite's pain products because even with DEA increasing quotas - IT DOES NOT STOP THE OPIOID LAWSUITS! Also, Elite needed to stay at the 10 or less approved drugs to keep the FDA's LOWER fee rate so they had to dump the one's that they believe would not provide significant revenue compared to their currently manufactured drugs.
Elite still has OXYCONTIN ANDA on hold and could dust that off and pursue that path.
I believe Elite's move to the CNS stimulants is a much bigger and SAFER and active market to pursue.
CNS Stims are doing good for ELITE right now!

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