Elite Pharmaceuticals Inc (ELTP)

[kayak_wench]

On a recent call Nasrat said he has been trying to sell Elite's right to acetaminophen and Codine. If your right about there being zero worry for a drug company to sell opioids why aren't three any takers for this drug? He even sarcastically asked stock holders on the phone to have interested parties give him a call. It should be well known amongst potential buyers that Nasrat will give them an amazing deal to get it off his hands. Yet still no one will pony up the small amount of cash needed. So we know for a fact Elite wants to sell this drug and we know for a fact they have sold similar drug at very low prices. And we know for a fact that Elite hasn't been able to find a buyer. All we have regarding there being zero danger of a drug manufacturer being sued is your opinion.

The article you reference makes the following point.

"It’s not just that opioids aren’t as safe as the drug companies claimed, it’s that the drugs may not even be as effective. There’s simply no good scientific evidence that opioid painkillers can effectively treat long-term chronic pain as patients grow tolerant of opioids’ effects, but there’s plenty of evidence that prolonged use can result in bad complications, including a higher risk of addiction, overdose, and death. In short, the risks outweigh the benefits for most chronic pain patients."

Whats to stop a lawyer from submitting a claim based on the fact Elite was selling a drug it should of known was ineffective? Many companies payout settlements for false claims to avoid the negative publicity and cost of fighting in court. Someone can easily file a suit against Elite they cannot win, but it would ruin Elite non the less. A larger company may just pay off such false claims by selling out of court for a small sum (because that is the motivation of many ambulance chasing lawyers), but Elite can't afford that. If that suit became common knowledge it would crush Elite's share price. Look what happened when the law company threatened a suit earlier in the year we lost a full 20% with that news and it weighed heavily on the stock for months.

The idea that there is risk in manufacturing opioids is not ludicrous nor incomprehensible. What other explanation can you come up with for Elite not being able to 'give' away their approved acetaminophen and Codine?

Then there is an entirely different argument to be made that there really shouldn't be a big market for opioids. If the medical community would believe the published papers on combining acetaminophen and ibuprofen stop writing prescriptions that aren't needed the market and profit of manufacturing opioids could disappear quickly. Combining acetaminophen and ibuprofen works amazingly well and with zero side affects like not being able to poop and feeling looped out. If you haven't tried it you should. I did a side by side comparison when I had a broken rib, and the combo of the over the counter was better than opioid use. Before you ask me which one I tested it against hydrocodone, Tylenol with codine, and oxycontin. I have pain pills coming out of my ears because of doctors over prescribing. I have never asked for a prescription, never told them what to prescribe or asked for a refill. I think doctors should be sued more until they stop prescribing. Opioids probably are only needed in situations where you need a little button to press to get your dose (i.e. very severe pain immediately after significant surgery and end of life).

https://www.mndental.org/files/NSAIDs-are-stronger-pain-medications-than-opioids-A-Summary-of-Evidence.pdf

https://www.healio.com/news/primary-care/20171107/combined-acetaminophen-ibuprofen-produces-similar-amount-of-pain-relief-as-opioids-in-ed-patients

https://www.sciencedaily.com/releases/2018/04/180417181101.htm