Elite Pharmaceuticals Inc (ELTP)

[kayak_wench]

As Nasrat has discussed in previous CCs Elite knew Purdue will sue. They submitted the ANDA because they are prepared (financially and legally) to defend against any such suits. Just as Purdue had a lawsuit prepared in advance, Nasrat has a defense already planned. Why do I say that because he told us they had to be prepared for such a situation before filing.

Nasrat from Q4 2022 Earnings Conference Call June 30, 2022

As was announced, we are working on Oxy ER. We have to do certain studies that will be concluded by Q1 of 2023. And we will be filing the product that takes the FDA another at least year to evaluate it, so probably end up filing it in Q2. It takes them a year.
And pending lawsuits and maneuvers from Purdue to delay us like the delay in the industry, things could come together and we may be one of the first ones once we have that Safe Harbor that Congress acts that opioids are okay.