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jour_trader

08/26/22 5:37 PM

#372822 RE: The ELTP King #372820

because he saw the writing on the wall…
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no2koolaid

08/26/22 7:23 PM

#372825 RE: The ELTP King #372820

Despite the fear induced apoplexy, you are right and that is why Nasrat has been in the process of gaining licensing. This is not a harbinger of bad things, it does not portend LPC-4, they did not get the loan because of this and it is not SOX revisit. While it might be there will be a drop in revenues reported in Q1 2024, they have time to work to fill the gap and the customers that bought Elite's IR/XR will be primed to buy from them. The drugstores want to ensure they continue to receive product and it was Elite that received the DEA approval for the products being distributed...NOT Lannett.

OBTW: An exclusive marketing rights agreement is made between a company and a distributor. The agreement grants the distributor a portion of the profits from the company's sales in exchange for promoting and selling the products. It is an exclusive agreement that gives only one distributor the authority to sell the company's products. With the termination of the agreement, ALL rights are returned to Elite, which means LCI cannot sell to the same customers under the terminated agreement.