![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Tuesday, March 24, 2009 3:07:15 PM
02:55 PM Eastern Daylight Time, 03/24/2009 (MidnightTrader) -- On March 18, Elite Pharmaceuticals (ELI:$0.22,00$0.09,0069.23%) entered a strategic alliance agreement with Epic Pharma and Epic Investments pursuant to which Elite will commence a strategic relationship with Epic.
At least eight additional generic drug products will be developed by Epic at Elite's facility with the intent of filing abbreviated new drug applications for obtaining FDA approval of such generic drugs.
Elite will be entitled to 15% of the profits generated from the sales of such additional generic drug products upon approval by the FDA and Epic and Elite will share with each other certain resources, technology and know-how in the development of drug products.
Epic will invest in Elite through the purchase of $3.75 million of newly issued shares of Elite's series E convertible preferred stock and warrants to purchase additional shares of Elite shares. Epic will also be entitled to receive additional shares of Elite shares and warrants to purchase shares of Elite's shares upon achievement of certain milestones relating to the eight additional generic drug products to be developed by Epic at Elite's facility.
Price: 0.20, Change: +0.07, Percent Change: +53.85
http://www.midnighttrader.com
Recent ELTP News
- Form 8-K - Current report • Edgar (US Regulatory) • 06/05/2024 08:07:15 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/20/2024 08:30:31 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/14/2024 09:55:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/29/2023 07:21:28 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/26/2023 09:20:29 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/12/2023 09:20:20 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/28/2023 12:05:38 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/27/2023 11:58:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/27/2023 11:50:54 PM
- Epazz, Inc. (OTC Pink: EPAZ) US Navy Collaboration with ZenaDrone • InvestorsHub NewsWire • 11/16/2023 12:32:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/25/2023 08:15:15 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/07/2023 08:05:25 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/14/2023 09:30:05 PM
Duane Forrester Joins INDEXR as SVP of Search • MONI • Jul 31, 2024 11:46 AM
Lingerie Fighting Championships Help Fulfill Death-Bed Promise With First Major Motion Picture • BOTY • Jul 31, 2024 9:00 AM
Kona Gold Beverage Significantly Reduces Debt from Multiple Holders • KGKG • Jul 31, 2024 9:00 AM
Avant Technologies Opens Equity Line with GHS Investments as Company Explores Expansion into Additional Technologies • AVAI • Jul 30, 2024 8:00 AM
ELEMENT79 GOLD CORP PROVIDES UPDATE ON CHACHAS COMMUNITY CHARTER AND REVENUE GENERATION, M&A ACTIVITIES • ELMGF • Jul 30, 2024 8:00 AM
INDEXR AI Merges With Moon Equity Holdings Corp. (MONI), Creating a Leading-edge Technology Company • MONI • Jul 29, 2024 9:59 AM