Elite Pharmaceuticals Inc (ELTP)

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Elite Pharmaceuticals Announces First Shipment of Generic Hydromorphone Product


NORTHVALE, N.J., March 13, 2012 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc. ("Elite") (OTCBB:ELTP.OB - News) announced today the initial shipment of hydromorphone hydrochloride 8 mg tablets, the generic equivalent of Dilaudid(R) 8 mg tablets under the License, Manufacturing and Supply Agreement with its sales and marketing partner, triggering a milestone payment. Elite's sales and marketing partner will distribute the product as part of a multi-product distribution agreement.

Hydromorphone hydrochloride is a member of the opioid analgesic and antitussive class. It is a pure opioid agonist used primarily for pain relief or as a cough suppressant. For the twelve months ending September 2011, Dilaudid(R) 8 mg tablets and its generic equivalents had total U.S. sales of approximately $30 million according to IMS Health Data.