Elite Pharmaceuticals Inc (ELTP)

[Hike]

They pulled it because it never went through FDA approval process and that they had not been tested for efficacy or safety. Simple as that. Supposedly in some tests many of the time-release drugs that were listed released 85% of the medicine in first 30 minutes.

What puzzles me is that Hi Tech said in their press release:

"In 2010 Hi-Tech’s ECR Pharmaceutical subsidiary initiated a formal approval process with the FDA regarding Lodrane® 24 and Lodrane® 24D. The Company will continue to actively pursue approval for both products."

Why did they feel compelled to do that? Did they see this coming?

Hopefully they can prove the safety and efficacy of Lodrane and get it back on the market. Maybe they got lumped together with a bunch of "quack" manufacturers.

The main ingredient is Brompheniramin. Its an antihistime found in hundreds of prescription and OTC drugs.