Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Elite's former CEO Jerry Treppel on SUICIDE WATCH.

Owns 404,019 shares of Akorn.

Investment went from $21,740,262 to $76,763

21 million to 76 thousand!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Ouch. He may need to discuss a new plan with his financial advisor. He is going to regret selling those ELTP shares a few years ago. My best wishes to Jerry. I think he served Elite well. It seems like the FDA warning letters to Akorn were less of a cause and more of an excuse for Fresenius to back out of the deal. The generics market shifted, and Fresenius had irreversible buyer's remorse before Akorn could close. Ultimately, it's not their death knell. I might have been overly dramatic when I said, "Debt. Downturn. Done." But it sounded better than "Debt. Downturn. Debt restructure." And Jerry might need to add another "D" -- DIVERSIFY.