Welcome to our dedicated page for Elite Pharmaceuticals news (Ticker: ELTP), a resource for investors and traders seeking the latest updates and insights on Elite Pharmaceuticals stock.
Elite Pharmaceuticals, Inc. develops oral sustained and controlled release products. Elite's strategy includes assisting partner companies in the life cycle management of products, improving off-patent drug products, and developing generic versions of controlled release drug products with high barriers to entry. With four ANDA products partnered with Tagi Pharma, Elite is making strides in the pharmaceutical industry. Elite also manufactures Lodrane D® and receives royalties for this allergy product partnered with ECR Pharmaceuticals, a wholly owned subsidiary of Hi-Tech Pharmacal. Their lead pipeline products, Eli-216 and Eli-154, are novel sustained-release oral formulations of opioids for chronic pain treatment.
Elite Pharmaceuticals announced its fiscal year-end results for March 31, 2024, showing a significant performance boost. The company reported consolidated revenues of $56.6 million, marking a 65% increase from the previous fiscal year. Operating profits surged by 192% to $10.8 million, largely due to the launch of the Elite label product line. Net income attributable to common shareholders stood at $20.1 million. Elite will host a conference call on July 2, 2024, at 11:30 AM EDT to discuss these results and recent business developments. Stockholders are encouraged to submit financial questions in advance.
Elite Pharmaceuticals (OTCQB: ELTP), a specialty pharmaceutical company focusing on niche generic products, announced they will release their fiscal year 2024 financial results on July 1, 2024. To discuss these results, Elite will host a live conference call on July 2, 2024, at 11:30 AM EDT. Shareholders are encouraged to submit their questions by June 28, 2024, for general queries, and by July 1, 2024, for financial queries. The conference call will provide an overview of financial and operating results along with a business update. The call can be accessed via specific dial-in numbers for domestic and international participants.
Elite Pharmaceuticals announced FDA approval for its generic Methotrexate Sodium 2.5 mg tablets. This approval relates to an Abbreviated New Drug Application (ANDA) and adds to Elite's portfolio of niche generic products. The generic Methotrexate, classified as an antimetabolite, will be marketed under Elite Laboratories. According to IQVIA, the generic market for Methotrexate had annual sales of $64.3 million for the twelve months ending March 2024. Elite Pharmaceuticals focuses on developing, manufacturing, and distributing immediate-release and controlled-release solid oral dose products, operating from a cGMP and DEA registered facility in Northvale, NJ.
FAQ
What is Elite Pharmaceuticals, Inc. known for?
What are Elite Pharmaceuticals' lead pipeline products?
Who are Elite Pharmaceuticals' key partners?
Where is Elite Pharmaceuticals' manufacturing facility located?
What recent achievement did Elite Pharmaceuticals announce?
