Finally someone gives us a comparable now let’s put them in perspective:
Epic Pharma sold in 2016 for $550M
Epic Pharma at time of sale:
• 15 marketed generic products
• 37 pipeline products
• ~215 employees
• FDA/DEA manufacturing facility
• Estimated EBITDA: $70M–$90M
• Buyout multiple: ~6x–8x EBITDA
Elite Pharmaceuticals today:
• Multiple marketed generics (amphetamine IR/ER, oxycodone, phentermine, codeine, etc.)
• Multiple ANDAs approved, pending, and in development
• ~65employees (lean operation vs Epic)
• DEA-licensed manufacturing facility
• Current EBITDA: ~$21M and growing
Using Epic buyout multiple (6x–8x EBITDA):
• ELTP at $21M EBITDA = $125M–$168M valuation
• ELTP at $50M EBITDA = $300M–$400M valuation
• ELTP at $70M EBITDA = $420M–$560M valuation
Key difference: Epic was already mature when sold. Elite is still scaling with new launches and expanding EBITDA.