Replies to post #132482 on Elite Pharmaceuticals Inc (ELTP)

[Chuc]

NH didn't want to give up 50% now and don't see him giving up 50% when ARTs approved.

Sure, I'll give a high level, obviously I can devote a lot of things but I do believe that by this year's end we'll make a decision with the potential people we're talking to on what kind of a partnership or arrangement we will have with them. Anytime you go into the market with a partner these partners are going to demand something. They may pay for some of the clinical trials with someone upfront and they would want let's say 50% of the revenue later.

When you are talking about $1 billion product, that's a high price to pay, it’s a very high price to pay. So we have currently two very good options. And everybody of course wants the lion’s share if they want to join you before you have approval or a clear path from FDA that everything is going to be great. And we're now willing to pay that price.

I am much more comfortable spending the money we've raised from our revenues, from the arrangements we have with Novel, from Lincoln Park because it has a lot lesser impact on the stockholders. I am much more comfortable going down that path building more and more value into these ANDAs. Then I am to turn it over somebody else who would pay me a few million dollars now and then will have a lot more profit in the future.

Both of the partners we’re talking about today, both of the two front runners I should say, both of them contacted me. I did not contact them as a matter of fact I didn't even know that they had any interest at this time.

So there is a lot of interest out there and lot of people are calling. We need to prove this technology once and for all, get product to the FDA and after that when they see here is a product or two and the other 12 are coming that will seriously give our company value.