web analytics

The Buzz on Elite Pharmaceuticals Inc (OTCBB:ELTP)

1

Elite Pharmaceuticals Inc (OTCBB:ELTP) continues to be among the most talked about and active stocks in small caps in recent months.  ELTP has long been one of the top most traded stocks on the entire OTC boasting a massive following and legions of shareholders. The stock used to trade as high as $22 a share on the AMEX but was de-listed to the OTCBB in 2009 where it sat dormant for several years. As everyone knows; ex big board stocks that hit the OTC tend to make highly explosive moves which is exactly what ELTP did last year running from $0.10 to highs near $1 a share.

There is a lot going on at ELTP; several days ago Elite’s management held a conference call and by all accounts CEO Nasrat Hakim handled it like a pro; first quarter 2020 revenues are $7 million in spite of Covid with Walgreens now accounting for around 15% of the total market. Several days before this ELTP announced consolidated revenues for fiscal 2020 were $18.0 million, an increase of $10.4 million or approximately 137% from the comparable period of the prior fiscal year.

Elite Pharmaceuticals Inc (OTCBB:ELTP) is a specialty pharmaceutical company which is developing a pipeline of niche generic products. Elite specializes in oral sustained and controlled release drug products which have high barriers to entry. Elite owns generic products which have been licensed to TAGI Pharma, Glenmark Pharmaceuticals, Inc., USA., and Lannett Company, Inc. Elite currently has eleven approved generic products, three generic products filed with the FDA, one approved generic products pending manufacturing site transfer, and an NDA filed for SequestOx™. Elite operates a GMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ.

Elite’s principle product is SequestOx™, an immediate-release oxycodone with sequestered naltrexone abuse-deterrent opioid product for the management of moderate to severe acute pain. Additional products include bariatric, cardiovascular, antihistamine, skeletal muscle relaxants, antipsychotic, tricyclic antidepressant, along with a number of approved products pending manufacturing site transfer. Elite’s lead pipeline products include abuse-deterrent opioids which utilize the Company’s patented proprietary technology and a once-daily opioid. These products include sustained release oral formulations of opioids for the treatment of chronic pain. These formulations are intended to address two major limitations of existing oral opioids: the provision of consistent relief of baseline pain levels and deterrence of potential opioid abuse.

In December of last yeart ELTP announced it received approval from the US Food and Drug Administration (FDA) for a generic version of Adderall XR®, an extended-release mixed salt of a single entity Amphetamine product (Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, Amphetamine Sulfate) with strengths of 5 mg, 10 mg, 15 mg, 20 mg, 25 mg, and 30 mg tablets. The product is a central nervous system stimulant and is indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD).

To Find out the inside Scoop on ELTP Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

ELTP

Earlier this year ELTP announced its marketing partner Lannett Company, Inc. has commenced product launch of Elite’s generic version of Adderall XR®, an extended-release mixed salt of a single entity Amphetamine product (Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, Amphetamine Sulfate) with strengths of 5 mg, 10 mg, 15 mg, 20 mg, 25 mg, and 30 mg capsules. Adderall XR®, including generic versions, have an estimated IQVIA™ market value of approximately $1.3 billion for the twelve months ending January 2020. Adderall XR® is a once-daily central nervous system stimulant and is indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD). This generic Adderall XR® product is jointly owned by Elite and SunGen Pharma LLC and is the second product launched from their collaboration. Elite will manufacture and package the generic product on a cost-plus basis. Lannett Company, Inc. will be the exclusive U.S. distributor for the product and will provide sales, marketing, and distribution.

On June 29 ELTP announced results for the fiscal year ended March 31, 2020. Consolidated revenues for Fiscal 2020 were $18.0 million, an increase of $10.4 million or approximately 137% from the comparable period of the prior fiscal year. The increase in revenues was largely attributed to revenues from products launched during the 2020 Fiscal Year, generic immediate release Adderall®, generic extended release Adderall®, and generic Dantrolene Capsules, as well as strong growth in revenues relating to the sales of Isradipine capsules.

Microcapdaily has been covering Elite Pharma for years, we noted on November 14, 2014 – Elite Pharmaceuticals Inc (OTCBB:ELTP) made a highly explosive move up earlier this year off its base at a dime the stock saw highs over $0.90 per share on significant volume. Currently hovering over recently established $0.30 support ELTP continues to be one of the top traded stocks on the entire OTCBB: ELTP has been around for many years and used to trade on the Amex stock exchange where it once saw highs of $22 per share. The Company was delisted to the OTCBB in 2009 where it sat dormant for several years before the recent explosion in price and volume.

We have a Monster Pick Coming. Subscribe Right Now!

Currently trading at a $66 million market valuation ELTP is an exciting story developing in small caps with a number of FDA approved drugs already on the market as well as many more in the pipeline in various stages with numerous partners reporting significant sales of $18 million for fiscal 2019 and already $7 million for Q1 2020. The fast rise in revenues on ELTP was largely attributed to revenues from products launched during the 2020 Fiscal Year, generic immediate release Adderall®, generic extended release Adderall®, and generic Dantrolene Capsules, as well as strong growth in revenues relating to the sales of Isradipine capsules. We will be updating on ELTP when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ELTP.

Sign Up now for our 100% FREE Penny Stock Newsletter

Disclosure: we hold no position in ELTP either long or short and we have not been compensated for this article.

Share.

1 Comment

  1. christopher garbacz on

    Several misleading statements. sequestOx is not on the market and not being pushed. Other opieds are not sold. The current share price is in the $0.076 to $0.08 range no longer around $0.30. There is no discussion of Micah a rather odd entity dealing in ELTP products w/o good explanation. No discussion of imminent profits in next quarter for the first time ever and potential going forward.

Leave A Reply

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.