Elite Pharmaceuticals Inc (ELTP)

[sharkey1]

From the last CC, nuff said:
can't wait to see the signed 8k with Prasco
We will continue to sell selected products under licenses as well. For example, our long-term partner TAGI continues to Phentermine and Naltrexone. Elite owns multiple genetic products, some of which are licensed to Prasco and TAGI, and others that we are selling ourselves. Elite has developed a new customer relationship with at least 27 companies including Cardinal Health, CVS, Walgreens, Myers, Publix, and McKesson.

Product shipments started on April 1st without a hitch. We grew revenues from direct sales each month this quarter. Revenues grew by 17% over last year's first quarter. We maintain a strong cash position, working capital increased as expected. Further growth potential will come from new sales, increased margins and the Prasco license.

Prasco has been given a non-exclusive license for two years to sell Amphetamine ER under their Burel label and those sales are expected to begin in January, 2024. In addition, the TAGI license continues through 2025 and they will continue to sell Phentermine and Naltrexone.