Elite Pharmaceuticals, Inc. Announces First Shipments From Expanded 15,000
Square Foot Facility
Facility Expansion Includes New Manufacturing Suites and Packaging Line
NORTHVALE, N.J., Jan. 28, 2013 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc.
("Elite" or the "Company") (OTCBB:ELTP) today announced that Elite is now
using and shipping packaged product from its expanded facility. The 15,000
square foot facility expansion includes cGMP manufacturing suites and
packaging line. Packaging onsite provides a cost reduction for the Company and
the use of the new manufacturing suites allows additional capacity and larger
scale production resulting in greater manufacturing efficiencies.
"Shipping packaged product and manufacturing larger batch sizes from our new
manufacturing space was one of our publicly announced operational goals for
fiscal year 2013. It means we are now a fully integrated FDA and DEA approved
facility capable of manufacturing for ourselves as well as others," commented
Jerry Treppel, Elite's Chairman & CEO.
About Elite Pharmaceuticals, Inc.
Elite Pharmaceuticals, Inc. develops oral sustained and controlled release
products. Elite's strategy includes assisting partner companies in the life
cycle management of products to improve off-patent drug products and
developing generic versions of controlled release drug products with high
barriers to entry. Elite has five commercial products with two additional
products under review, pending approval by the FDA. Elite's lead pipeline
products include abuse resistant opioids utilizing the Company's patented
proprietary technology, and a once-daily opioid. They are sustained release
oral formulations of opioids for the treatment of chronic pain, which address
two of the limitations of existing oral opioids: the provision of consistent
relief of baseline pain levels and deterrence of potential abuse. Elite also
provides contract manufacturing for Actavis and Ascend Laboratories
(previously a subsidiary of ThePharmaNetwork and now a subsidiary of Alkem
Laboratories Ltd.) and has partnered with Mikah Pharma to develop a new
product, with Hi-Tech Pharmacal to develop an intermediate for a generic
product, and a Hong Kong based company to develop a branded product for the
United States market and its territories. Elite operates a GMP and DEA
registered facility for research, development, and manufacturing located in
The Elite Pharmaceuticals, Inc. logo is available at
This news release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Including those related
to the effects, if any, on future results, performance or other expectations
that may have some correlation to the subject matter of this press release,
readers are cautioned that such forward-looking statements involve risks and
uncertainties including, without limitation, delays, uncertainties, inability
to obtain necessary ingredients and other factors not under the control of
Elite, which may cause actual results, performance or achievements of Elite to
be materially different from the results, performance or other expectations
that may be implied by these forward-looking statements. These risks and other
factors, including, without limitation, the timing or results of pending and
future clinical trials, regulatory reviews and approvals by the Food and Drug
Administration and other regulatory authorities, intellectual property
protections and defenses, and the Company's ability to operate as a going
concern, are discussed in Elite's filings with the Securities and Exchange
Commission, including its reports on forms 10-K, 10-Q and 8-K. Elite
undertakes no obligation to update any forward-looking statements.
CONTACT: For Elite Pharmaceuticals, Inc.
Dianne Will, Investor Relations, 518-398-6222
Elite Pharmaceuticals, Inc Logo
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