Elite Pharmaceuticals Inc (ELTP)

[The ELTP King]

Here's how Nasrat probably justified the price: The very last sentence in the press release.


Elite Pharmaceuticals Acquires Trimipramine ANDA

NORTHVALE, N.J., May 22, 2017 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (OTCBB:ELTP), today announced the acquisition of an approved and currently marketed Abbreviated New Drug Application ("ANDA") for Trimipramine Maleate Capsules ("Trimipramine") 25, 50 and 100 mg, from Mikah Pharma, LLC ("Mikah"). Dr. Reddy's Laboratories, Inc. ("Dr. Reddy") (BSE:500124), (NSE:DRREDDY), (NYSE:RDY) will market and sell the Trimipramine products. Epic Pharma will manufacture the products under current agreements with Mikah. Eilte will assume these agreements with the acquisition of the products. This agreement insures the uninterrupted supply of generic Trimipramine. Trimipramine is a generic version of Surmontil®, a tricyclic antidepressant. Surmontil® and generic Trimipramine have total US sales of approximately $2 million in 2016 according to IMS Health Data. The ANDA purchased by Elite is currently the only marketed generic Trimipramine product.


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