Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

so his NJ pharma bro can come by and load them up

I apologize. Farbeit from me to suggest Elite shareholders were not fairly and equitably treated by Nostrum Pharma. I am sure the highest level of ethical deliberation was applied to the transaction.




https://www.ft.com/content/48b0ce2c-b544-11e8-bbc3-ccd7de085ffe

Pharma chief defends 400% drug price rise as a ‘moral requirement’
Nostrum Laboratories’ Nirmal Mulye says he is right to charge as much as possible and slams FDA
David Crow in New York
SEPTEMBER 11 2018

A pharma executive has defended his decision to raise the price of an antibiotic mixture to more than $2,000 a bottle, arguing there was a “moral requirement to sell the product at the highest price”.

Last month, Nostrum Laboratories, a small Missouri-based drugmaker, more than quadrupled the price of a bottle of nitrofurantoin from $474.75 to $2,392, according to Elsevier’s Gold Standard drug database.

Nitrofurantoin is an antibiotic used to treat bladder infections that was first marketed in 1953, which appears on the World Health Organization’s list of essential medicines. It comes in a tablet form as well as a liquid version that Nostrum makes.

In an interview, Nirmal Mulye, Nostrum chief executive, said he had priced the product according to market dynamics, adding: “I think it is a moral requirement to make money when you can and to sell the product for the highest price.”

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