Elite Pharmaceuticals is a specialty pharmaceutical company principally engaged in the development and manufacture of oral, controlled release products, using proprietary technology.  The Company’s strategy includes  improving  off-patent  drug  products  for life cycle  management  and developing  generic  versions of  controlled  release  drug  products  with high barriers to entry. Elite’s technology is applicable to develop delayed, sustained or targeted release pellets, capsules, tablets, granules and powders.

Elite has two products, Lodrane 24® and Lodrane 24D®, currently being sold commercially, and a pipeline of five additional drug candidates under active development in the therapeutic areas that include pain management, allergy and infection. Of the products under development, ELI-216, a once-a-day, abuse  deterrent  oxycodone  product,  and  ELI-154,  a once-a-day oxycodone product,  are in clinical  trials and the Company has completed  pilot studies on two of the Registrant’s other generic  product  candidates.  The Registrant has also submitted an ANDA with Elite’s co-development partner, The PharmaNetwork, for a pain management generic product.  The addressable market for the pipeline of products is approximately $6 billion.  The Registrant’s facility in Northvale, New Jersey is a Good Manufacturing Practice (“GMP”) and DEA registered facility for research, development and manufacturing.