Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

In case you did not know who was sued as part of the Opioids lawsuit:

It is true that you need pain medicine - but when they sue even CVS and Costco as well as Purdue and J&J, you better stay clear. If Elite had been caught in the lawsuit, we would have no shares to talk about today.

Defendants in lawsuits include:
Allergan
AmerisourceBergen Drug Corporation
Cardinal Health Inc.
Costco
CVS
Endo Health Solutions and its affiliates
Endo International and its affiliates
Janssen Pharmaceuticals and its affiliates (including its parent company Johnson & Johnson)
Mallinckrodt LLC and its affiliates
McKesson Corporation
Purdue Pharma and its affiliates
Rite-Aid Corporation
Rochester Drug Cooperative Inc.
Teva Pharmaceuticals USA Inc. and its affiliates; and Allergan Finance LLC and its affiliates.
Walgreens
Wal-Mart

Look at the list. It's all on the distribution side, other than giant manufacturers who were behaving unconscionably about how much opioid they were distributing to concentrated areas. Elite had zero legal liability for past, current, or future participation in a highly-regulated market, unless of course they were doing things like Insys. Is there concern that executives at Elite were engaged in this kind of stuff?


https://www.justice.gov/usao-ma/pr/founder-and-four-executives-insys-therapeutics-convicted-racketeering-conspiracy

Founder and Four Executives of Insys Therapeutics Convicted of Racketeering Conspiracy

First successful prosecution of top pharmaceutical executives for crimes related to the prescribing of opioids

...

The defendants used pharmacy data to identify practitioners who either prescribed unusually high volumes of rapid-onset opioids, or had demonstrated a capacity to do so, and bribed and provided kickbacks to the practitioners to increase the number of new Subsys prescriptions, and to increase the dosage and number of units of Subsys. The defendants also measured the success of their criminal enterprise by comparing the net revenue earned from targeted practitioners with the total value of bribes and kickbacks paid. The defendants used this information to reduce or eliminate bribes paid to practitioners who failed to meet satisfactory prescribing requirements, which they determined to be the net revenue equal to at least twice the amount of bribes paid to the practitioner.