Replies to post #339264 on Elite Pharmaceuticals Inc (ELTP)

[Just give me $1.50]

Keep the posts coming.

Also, I have asked in 3 straight conference calls about more information on the Development Agreement between Elite and Mikah that was signed in December 2018.

Nothing but silence.

Nasrat might not be answering because it's for competitive reasons. Who knows.

However, we all know why he isn't disclosing what he paid for the the 50% ownership of both the Adderall products.

It's so he can SELL them back to Elite as he stated "eventually" for a MUCH higher price than what he paid.

If Nasrat disclosed how much he paid for them, then he would NOT be able to sell them back to Elite for a MUCH higher price, if at a higher price AT ALL.

Nasrat is playing two hands at the same table, but deal after deal after deal the MIKAH hand wins and the Elite hand loses. It doesn't take long before the MIKAH pile of chips is overflowing off the table and the ELITE chips are completely spent. Sure it could be just dumb luck that MIKAH wins every hand and Elite loses every hand, but casino odds don't usually work that way. Some of these recent business deals (and not so recent) by Elite and MIKAH have the APPEARANCE OF IMPROPRIETY. As usual, Nasrat is doing himself and shareholders a major disservice by refusing to provide any details, and he alone is responsible for the APPEARANCE OF IMPROPRIETY.

It is time for this to stop. It is time for Elite shareholders to demand more and better from Nasrat on this issue. It is time to stop blindly believing every ounce of verbal diarrhea that comes out of his mouth like it is gospel. It is time to get active.

More to come...

[Just give me $1.50]

Know any good lawyers?

It is time for this to stop. It is time for Elite shareholders to demand more and better from Nasrat on this issue. It is time to stop blindly believing every ounce of verbal diarrhea that comes out of his mouth like it is gospel. It is time to get active.

[WeeZuhl]

Some of these recent business deals (and not so recent) by Elite and MIKAH have the APPEARANCE OF IMPROPRIETY.

Here is an SEC filing between MIKAH and Dr. Reddy. The details show that MIKAH's agreement with Actavis to distribute trimipramine ended in May 2016. Mikah and Dr. Reddy entered this exclusive rights agreement on May 4, 2017. MIKAH then sold the trimipramine ANDA to Elite two weeks later on May 22, 2017. As I recall, this was billed as a "favor" from Nasrat to Elite. The relationship between Elite and Dr. Reddy ended quickly and abruptly for unknown reasons. It certainly has the APPEARANCE OF IMPROPRIETY.




https://www.sec.gov/Archives/edgar/data/1053369/000114420417032547/v468485_ex10-55.htm

SUPPLY AND DISTRIBUTION AGREEMENT

This SUPPLY AND DISTRIBUTION AGREEMENT (the “Agreement”), dated May 4, 2017 (the “Effective Date”), is by and between Dr. Reddy’s Laboratories Inc., organized and existing under the laws of New Jersey having an office at 107 College Road East, Princeton, New Jersey 08540 ("DRL") and Mikah Pharma, LLC, organized and existing under the laws of the State of Delaware, having an office at 20 Kilmer Drive, Hillsborough, New Jersey 08844 (“Mikah”). DRL and Mikah are each a “Party” and together constitute the “Parties” under this Agreement.

RECITALS

WHEREAS, Mikah owns a certain abbreviated new drug application (“ANDA”) for Product that Actavis LLC has the exclusive rights to market and sell. Due to a potential merger between Actavis LLC (“Actavis”) and Teva Pharmaceutical Industries Ltd., Actavis wishes to terminate the agreement with Mikah under the terms outlined in Attachment 1;

WHEREAS, DRL possesses expertise relating to the marketing, distribution and sale of pharmaceutical products; and

WHEREAS, Mikah and DRL wish to enter into an agreement whereby DRL will have exclusive marketing, distribution and sales rights to Product.

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the sufficiency and satisfaction of which are hereby acknowledged, DRL and Mikah hereby agree as follows:

EXHIBIT A



PRODUCT INFORMATION



Product Batch Size Price Per Bottle without API
Trimipramine 25mg, 30ct bottle {***} See Product pricing given in Attachment 2
Trimipramine 50mg, 30ct bottle {***} See Product pricing given in Attachment 2
Trimipramine 100mg, 30ct bottle {***} See Product pricing given in Attachment 2

Attachment 1

Termination of the Asset Purchase Agreement and Master Supply Agreement dated as of May 25, 2016 by and between Actavis LLC and Mikah Pharma LLC

CONFIDENTIAL