I just got off the phone with Dianne from IR

New Post Public Reply Private Reply Replies (3) Message Board

Mar 28, 2013 at 6:09 PM

I just got off the phone with Dianne from IR ......she reassured me that the Phentermine is on the way to being launched as soon as possible and that there is absolutely nothing to worry about at this point. She said the launch was expected by the end of the month but that some of the necessary paperwork is not quite finished and once the t's are crossed and the i's dotted the phentermine will launch. Elite's personnel is working as hard as they can and is working as efficiently as they can with the small number of employees they have. She also relayed that Elite's Naltrexone has been ordered from their API supplier and that the Naltrexone launch is moving forward as planned.

She further said in relation to the number of employees that although Elite is growing and will continue to grow given Elite's increased revenues that their manufacturing personnel hasn't grown in the way that Elite's packaging unit has. Elite needed to hire packaging personnel first and foremost before any other department was expanded but that this will happen and is planned in the not too distant future. I found this understandable and reassuring as I did not specifically ask about the increase in personnel to 26 employees. Thus, she offered this information freely and without prompting.

I also asked about the ongoing Novel discussions and she was candid to say that these are in the preliminary stages and that nothing is expected to move quickly here. She said the good news is that a few years ago when Elite approached Novel to look into monetizing their 10% Novel said no deal they weren't interested and so Elite decided to go with the Epic Strategic Alliance instead. Now a few short years later Novel approached Elite to begin talks.....she said likely having to do with how quickly Novel is growing and makes sense for Novel to buy back their stake as soon as possible. The two sides need to come to an agreement though and this is going to take some time she said....and that the longer Novel waits the more Elite's worth in the company becomes. She also said that Elite got lucky to be able to buy into Novel in the first place... that when Veerappan sold Kali Labs to Par it looked like Par was going to take specific labs and leave Veerappan and thus his new company with zero lab space.....and Veerappan needed lab space and thus came to Elite for help with this......and the partnership was formed.....and then Par decided it wasn't going to take the lab space and Veerappan took hold of the space. If he had known this he would not have come to Elite in the first place!! Nobody thought he would get it back so quickly....and his business at Novel took off way more quickly than anyone thought because of his gaining the lab space back unexpectedly. Quickly Elite's monetary commitment increased monumentally to Novel and out of the blue and thus with the market tanking in 2008 Elite did not have the cash to follow through as they would have had Novel grown in the fashion that was expected without the lab space..... and their ownership moved from 49% to 10%. She said this is the good and bad of the situation Elite has with Novel. Lucky to have the 10% but nobody expected Novel to take off as it did.

She also said that Elite is moving forward with their abuse resistant technology in regard to generic products and that in order to do a NDA abuse resistant product would entail Phase III trials and Elite would need to find funding hopefully in a partnership. She closed with saying Elite is on target with their business plans and that the company is in way better shape financially than it was a few years ago. As usual I found her polite, helpful and candid within reason.

Elite Pharmaceuticals Inc (ELTP) Stock Research Links

ELTP Board Company Profile Buy Rating Time & Sales News Filings Financials

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

PayPal Under Investigation: Legal Battles Intensify

A Bumpy Ride for PayPal's Investors Back in 2025, PayPal was beaming about new growth strategies, filling the air with grandiose promises. Fast forward to February 2026, and the script had flipped entirely. Earnings came in nasty and disappointing, particularly in the Branded Checkout front. Adding to the chaos was their CEO unceremoniously taking the high road out the...

Insta360 Expands with Times Square Flagship Store

Insta360 Times Square Opening Marks Bold Expansion I dropped by Times Square today, and what do I see? Insta360 planting its flag right in the heart of New York City. Now, this isn't your run-of-the-mill grand opening—it’s the first flagship store outside of Asia, and it screams of big ambitions. Nestled at 1515 Broadway, the store is smack in the middle of one of the...

Why Liver Nurture Taps into Health Sector Trends

Liver Wellness: A Sector on the Rise Remember when everyone was all about heart health and cholesterol levels? Seems like these days, folks have shifted their focus a bit south—right to the liver. It's no surprise, really. With our modern diet and lifestyle choices squeezing the life out of this hard-working organ, people are on the hunt for ways to give it the TLC it...

Flying Car Regulatory Sandbox Begins in UAE

Pioneering Flying Cars in the Desert In a move that seems right out of a science fiction screenplay, ARIDGE—the bigwig of flying cars from Asia—has taken a giant leap. They’ve cozied up with the UAE, locking arms to cook up the world's first regulatory sandbox for personal flying cars. Now, don’t laugh—sandbox isn't just for toddlers. It’s the playground where...

Hainan Airlines' Dedication Keeps It atop Skytrax

Fifteen years of soaring high: now that's something worth taking to the bank—or the air. Hainan Airlines has just bagged the SKYTRAX Five-Star Airline rating once again, handed out at this year's World Airline Awards ceremony. When it comes to delivering quality, they're flying high on the charts, landing among the World's Best Airlines Top 10. And in the wild world of...

Fast Guard Elevates Nationwide Fire Watch Mission

Fast Guard: The Unseen Shield Behind Property Safety Hollywood, Florida might be best known for its sun-kissed beaches, but in the world of fire safety, it’s the nerve center for emergency fire watch response. Fast Guard Service isn’t just any run-of-the-mill security outfit; it’s rapidly becoming the unsung hero of property managers across the nation. When those...

GAC's Cambodia Plant: A Strategic Manufacturing Shift

Setting the Stage for New Industrial Growth On September 17, a milestone was etched in the sands of Cambodia when the GAC Cambodia KD Plant officially flipped the switch. This ain't just another factory throwing doors open; it's a fresh chapter in regional manufacturing power plays. We had some big hitters in attendance, like Cambodian Prime Minister Hun Manet, showing...

China's Tech Success Echoes in Global Living Rooms

A New Player in Global Tech If you've been sleeping on China's tech scene, it's time to wake up. Moonshot AI just launched Kimi K3, the largest open-source model by parameters we've seen, a significant leap in artificial intelligence that's catching even the eyes of folks who hardly touch technology—like retirees in Italy. Rapid AI Advancements China's story isn't about...

Beta Bionics Lawsuit Deadline: Investors Face November 3 Cut-off

Looming Deadline for Beta Bionics Investors Time's ticking fast for those holding onto Beta Bionics (BBNX) stock who might've been caught in a web of undisclosed risks and regulatory misses. Investors feeling the pinch from this fiasco have till November 3, 2026, to throw their hat in the ring as lead plaintiffs in the class action lawsuit out of California. The...

Med Spa Visits: Key Insights from Lindsey Smith

Moving Beyond the Fear Factor Stepping into a med spa for the first time can be nerve-wracking, especially if you're unsure of what to expect. Lindsey Smith, an expert from Flawless Med Spa in Bryant, Arkansas, knows just how critical it is to navigate this terrain with clarity. Her approach emphasizes building a foundation of trust and understanding from the get-go. Fear...