This was a third party emissary who likely had access to certain key people in PFE, which enabled an inquiry by Elite. Based on his mention of PFE, I expect Nasrat is awaiting a response that will come before the next CC. So, we should expect some information (and I intend on asking for it, since he mentioned their name multiple times in the call. Actually, their name comes up five times, though the context centers on three issues, only two of which offer an avenue for opportunity and both would center on Elite's tech).
One more point to end the year on...COLL has insurance to cover its business and its product liability. Its products are opioids. Any litigation they would face is covered by the insurance, minus the premium and expenses. As Nasrat noted, ELTP clearly has business insurance but could not get insurance to cover opioid liability. Again, from the CC transcript...
Now, if we believe what we read from the transcript, Elite is willing to launch an anti-abuse ER opioid at risk under certain conditions. Here is what Nasrat said...
This is contrary to past statements in the CC's where Nasrat unequivocally put SOX on the shelf. But, let me point out what he said in the above is not about SOX - an abuse resistant IR opioid...he said...Oxy ER anti-abuse! This does cause one to ponder the future for Elite and it should also make clear that Nasrat has been more strategic than he has been credited for being.
If we add the following to the fog of the verbiage from the CC...
...when combined with the Dexcel partnership, 2022 looks to be setting up as Elite's best year ever. It will set new highs for quarterly and annual revenues, while moving new business development along at a pace that makes 2023 all that I believe it will be.