Replies to post #388891 on Elite Pharmaceuticals Inc (ELTP)

[Pharma Sleuth]

Prasco is the key here for API. Its an authorized generic or at least was, may still be. Not sure but what weight that carries, I am not sure. However, I did find that Prasco was not in many of the stores Elite is marketing.

Like the CVS, walgreens etc...So that may shed some light on why Elite was able to make this deal. Sales and marketing who knew....

But the key is how the FDA will view this. and if it is the authorized generic, will that carry any weight

[imanjen13]

The unused quota referred to was for quotas previously established. In reviewing new quotas, it is likely the DEA will consider that companies that did not fill their quota will have their quota reduced and given to companies like Elite who sold out.

It appears that the 10 cent resistance level may soon be breached to the upside. A dime is will be a good entry point for new investors as some here take some off the table for a profit. (Used car prices are dropping).

Once above a dime, the 10 cent level will be a floor. Stock has just started to move from toddler to teenager.