Ok, as usual Diane was very well spoken and knowledgeable about the company, and was able to provide some insight as to what will cause a PR to be issued, and what will not.
Right now, the Phentermine 15mg and 30mg capsules are FDA approved, and TAGI Pharma will do the marketing as they already market the 37.5mg tablets for ELTP.
We can expect a PR as the first products are shipped! That is when the company chooses to PR new product announcements.
Here was the PR when hydromorphone was shipped...
Elite Pharmaceuticals Press Release for: Tuesday, March 13, 2012
ELITE PHARMACEUTICALS ANNOUNCES FIRST SHIPMENT OF GENERIC HYDROMORPHONE PRODUCT
Northvale, New Jersey, Tuesday, March 13, 2012: Elite Pharmaceuticals, Inc. ("Elite") (OTCBB: ELTP) announced today the initial shipment of hydromorphone hydrochloride 8 mg tablets, the generic equivalent of Dilaudid® 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.
So we can expect a similar PR when the Phentermine capsules ship.
And we can expect the same kind of PR's when the Naltrexone and Phendimetrazine products ship.
She didn't give any indication of when exactly any would ship, she said they have to actually have purchase orders to fill, then they make and ship the new products, so based on this, I expect we will hear about the Phentermine products first, and then the Naltrexone and Phendimetrazine as those products should be soon to be approved to transfer.
She did mention the isradipine with Mikah is secondary to the launch of Phendimetrazine at this time, therefore it is not under active development, at this time.
Finally, I inquired as to the financing, not expecting any info.
She basically reiterated that the Phase III studies will be PARTNER studies and those deals would be separate from the Bio-equivalence studies that need to be completed to get ANDA's and the 505-b's approved for generics. She said that all avenues for funding are being considered carefully, and meanwhile, everything is fine with the bridge loan from the CEO, Jerry Treppel, still keeping the research going as necessary.
