Elite Pharmaceuticals Inc (ELTP)

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ELTP is still way undervalued according to this calculation.

Drug Manufacturers
Specialty & Generic
P/E ratio: 36.45 current average of
47 generic manufacturers

ELTP EPS ($0.0191)
x Average P/E Ratio by Industry of (36.45) of 47 generic drug manufacturers
= Price Per Share ($0.6962)

ELTP should be at $0.6962 per share even before all these newly revenue to be reported with the recent launches of Methotrexate
(~$63 million market),
Codeine with Acetaminophen
(~$47 million market), and
generic Addera by Dexcel Pharma in Israel.

https://fullratio.com/pe-ratio-by-industry

There will be significantly more revenue reported from the launches of generic Percocet
(~ $500 million market) launching around 11/18/24 and
generic Norco
(~$477 million market) launching probably right after the new year.

Elite will have awesome news soon with another record breaking quarterly earnings press release on 11/14/24 and the approval of generic Vyvanse hopeful in November 2024
($5.1 billion market).

Casual investors will regret giving up their shares so soon recently.

True long ELP investors with do extremely well with their returns when it goes to $5 to $7 within the next 2 years.

Elite’s revenue was ~$56.6 million for the last fiscal year.

Imagine what the share price can be if Elite’s revenue is ~$566 million for all the drugs that are approved for launch and those about to be approved in the pipeline.

10 fold on EPS could be $0.191

$0.191 x 36.45 = $6.962

And this price per share is not even factoring the potential of Elite’s future, Abuse Resistant Technology branded drugs.

1. oxycodone with naltrexone (SequestOx)
2. hydrocodone with naltrexone
3. oxymorphone with naltrexone
4. hydromorphone with naltrexone
5. morphine sulfate with naltrexone

NASDAQ listed is within reach.
Buy out offer is plausible.

My current road map with investing in ELTP.

At least 3-5 more press releases are about to be announced in the very near future.

1. Methotrexate
$63 million market
Just launched on 8/27/24

https://elite.irpass.com/profiles/investor/ResLibraryView.asp?ResLibraryID=137279&BzID=2258&g=939&Nav=0&LangID=1&s=0 (https://elite.irpass.com/profiles/investor/ResLibraryView.asp?ResLibraryID=137279&BzID=2258&g=939&Nav=0&LangID=1&s=0)

2. Codeine with acetaminophen
$47 million market
Launched on 10/7/24

https://elite.irpass.com/profiles/investor/ResLibraryView.asp?ResLibraryID=138878&BzID=2258&g=939&Nav=0&LangID=1&s=0

3. Record earnings conference call
11/14/24
Press release #1

ELTP approved drugs with pending launches:

4. Generic Percocet
oxycodone with acetaminophen
~$500 million market
Will launch 6-8 weeks after the codeine with acetaminophen launch
Press Release #2
As early as 11/18/24

5. Generic Norco
hydrocodone with acetaminophen
~$477 million market
Will launch 6-8 weeks after the oxycodone with acetaminophen launch
Press Release #3
As early as 12/30/24

6. Dolophine/Methadone
~$30 million market
Will launch 6-8 weeks after the hydrocodone with acetaminophen launch
Press Release #4
As early as 2/14/25

7. Pending approval:
Generic Vyvanse
~$5.1 billion market
This is the monster news that everyone is waiting for.
Hopefully the approvable positive press release will come out by November 2024.
Press Release #5

8. Launch of Generic Vyvanse
Press Release #6

9. Pending approval for launch:
Generic OxyContin
~$720 million market
Press release #7

10. Pending approval for launch:
Generic Vigabatrin
~$233 Million market
Press release #8

9. Pending BE equivalent study result:
Generic Concerta
~$1.2 billion market
Press release #9

10. Pending submittal:
Generic Requip XL or
Generic Mirapex ER
$12 Million market
Press release #10

$63 million - Methotrexate
+ $47 million - Codeine
+ $500 million - Percocet
+ $477 million - Norco
+ $30 million - Methadone
+ $720 million -OxyContin
+ $233 million - Vigabatrin
+ $12 million - Requip
= $2.081 billion

$2.081 billion
+ $5.1 billion Vyvanse
+ $1.2 billion Concerta
= $8.381 billion market

CEO Nasrat Hakim still holds 221,572,000 shares according to Yahoo.

https://finance.yahoo.com/quote/ELTP?p=ELTP

But according to this website below, he and Mika Pharma holds:

267,272,787 Mika Pharma
+ 221,572,397 Nasrat Hakim
= 488,845,184 total shares

https://www.secform4.com/insider-holders/1053369.html

ELTP Insider Holders & Insider Ownership - ELITE PHARMACEUTICALS INC

It is in his best interest to continue to provide the rocket fuel for ELTP.

Therefore, we can expect more higher revenue drugs in the pipeline soon for more BE studies since Elite now has money to do so.

Wouldn’t be great if Nasrat or Carter can say something like this on our next conference call,
“Our current EPS is $0.0191 per share and the current average P/E for a generic drug manufacturer is 36.45. Based on those two numbers, our stock price should be around $0.6962. However, our EPS will be significantly much higher soon, and ELTP share price could eventually be $6.962 with our target of $566 million per year in revenue.”

Good luck to all you longterm ELTP investors out there. We all will be well rewarded soon with financial freedom.