Replies to post #369857 on Elite Pharmaceuticals Inc (ELTP)

[no2koolaid]

Contracts have termination clauses on both ends.

That is absolutely correct. Moreover, as to LCI's potential for filing bankruptcy, it would be Chapter 11 Restructuring, not Chapter 7 Liquidation. The company would continue to operate and all contracts, unless otherwise specified, would remain in effect.

Having said that, I expect Elite is seeking a new partner, if for no other reason than the potential conflict with LCI getting its own Adderall IR ANDA approved and already having its own Concerta ANDA that has long been commercialized.