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, manufactures, and distributes niche generic pharmaceutical products, with product lines focused on immediate-release and controlled-release solid oral dose products. Company news commonly covers FDA approvals for abbreviated new drug applications, commercial launches under the Elite Laboratories label, and licensed distribution relationships with third-party pharmaceutical marketing organizations.
Recurring updates also include quarterly financial results, conference-call announcements, and operating commentary tied to generic product sales. Recent company developments have included methadone hydrochloride tablets, ropinirole extended-release tablets, lisdexamfetamine products, and naltrexone products within Elite's generic drug portfolio.
Elite Pharmaceuticals Reports Q3 2021 Results
Elite Pharmaceuticals, Inc. (OTCQB:ELTP) announced a 20% increase in consolidated revenues for the third quarter of fiscal year 2021, reaching $6.0 million. This marks the company's seventh consecutive quarter of revenue growth, with an average annual increase of 122%. Key revenue drivers included the launch of generic extended-release Adderall® and increased sales of generic immediate-release Adderall® and Dantrolene capsules. Operating income also improved to $1.0 million, up from $0.7 million in Q3 of the previous year.
Elite Pharmaceuticals (ELTP) will announce its third-quarter financial results on February 16, 2021. A conference call is scheduled for February 17, 2021, at 11:30 AM EST to discuss the results and provide a business update. The call will address questions submitted by stockholders. Elite Pharmaceuticals focuses on developing niche generic products and operates a cGMP and DEA registered facility in Northvale, NJ. Forward-looking statements in the release highlight potential risks and uncertainties.
Elite Pharmaceuticals, Inc. (OTCQB:ELTP) addressed inquiries about a recent ANDA approval listing for nifedipine, clarifying that this approval is not related to any product developed by the company. Nifedipine is not part of Elite's pipeline, which is detailed in their government filings and public communications. Elite's commercial products are registered under their subsidiary, Elite Laboratories, Inc. The company focuses on developing niche generic products and operates a registered facility for research and manufacturing in Northvale, NJ.
Elite Pharmaceuticals Reports Second Quarter Fiscal 2021 Results
Elite Pharmaceuticals, Inc. (ELTP) announced consolidated revenues of $7.4 million for the second quarter ended September 30, 2020, a 60% increase compared to the same quarter last year. This marks the sixth consecutive quarter of year-on-year revenue growth, driven by the launch of generic extended-release Adderall. Operating income reached $1.3 million, a significant turnaround from a loss of $0.5 million in the prior year's quarter. The company has achieved positive operating cash flows for the past two quarters.
Elite Pharmaceuticals reported its financial results for the first quarter of fiscal year 2021, ending June 30, 2020. The company achieved consolidated revenues of $7.5 million, reflecting a significant 124% increase compared to the same period last year. This growth was driven primarily by the sales of generic extended release Adderall and increased sales of other generic medications. A conference call will be held on August 17, 2020, to discuss these results and recent business developments.
Elite Pharmaceuticals (OTCQB:ELTP) will release its fiscal Q1 2021 financial results on August 14, 2020, followed by a live conference call on August 17, 2020, at 11:30 AM EDT. The company specializes in developing niche generic products, including oral, controlled-release drugs. Stockholders are encouraged to submit questions ahead of the call. Elite operates a GMP facility in Northvale, NJ and has partnerships with TAGI Pharma, Glenmark Pharmaceuticals, and Lannett Company.