Elite Pharmaceuticals is a specialty pharmaceutical company principally engaged in the development and manufacturing of oral controlled-release products. The Company's strategy includes developing generic versions of controlled release drug products with high barriers to entry and assisting partner companies in the life cycle management of products to improve off-patent drug products. Elite's technology is applicable to develop delayed, sustained or targeted release capsules or tablets. Elite has two products currently being sold commercially and a pipeline of seven drug products under development in the therapeutic areas that include pain management, allergy, cardiovascular and infection. The addressable market for Elite's current pipeline of products exceeds $6 billion. Elite has a strategic alliance with newly formed Novel Laboratories, Inc., which will serve as a separate specialty pharmaceutical company for the research and development, licensing and acquisition of specialty generic pharmaceuticals under CEO Dr. Veerappan Subramanian.  Elite operates a GMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ.