Replies to post #253531 on Elite Pharmaceuticals Inc (ELTP)

[jour_trader]

It does...of the crappy low margin, tiny revenue generating generics.

[lasers]

It is indeed manufacturing and very necessary functions so that all SOP details are fulfilled to the FDA satisfaction. Each shift of operators work together as a team fulfilling all required SOPs actions.

[Chasing]

Here's a reminder of what Nasrat and Ward said after the Epic buyout last year:

comments regarding partnership status

Carter Ward

The first one was $5 million when we signed the agreement and the second one was $2.5 million was paid to us while Epic was in final negotiations with PuraCap. So that clearly gave us the impression that PuraCap is very much interested in this product because remember these milestone payments are non-refundable, so…

Nasrat Hakim

Right, so last February or so, they could have just said we’re not interested and save themselves $2.5 million but they actually opted to pay us and to call us and get into talking. And frankly, we we’ve talked to several consultants, and as I said entities that have their own sales and marketing teams that good at it alone. And I found the sales and marketing VP for PuraCap as solid as any of them if not more.

Carter Ward

Yes, also it’s important to keep in mind that this agreement is still in place and it is still effective. So, while there’s been talks of tweaks to the agreement, various terms and conditions, there has been no cancelling of the agreement. The agreement is still there. So, when we get approval for this product, there is a $7.5 million milestone and that condition is still effective.