NICE!!! http://finance.yahoo.com/news/elite-pharm

NICE!!!

http://finance.yahoo.com/news/elite-pharmaceu...00752.html

NORTHVALE, N.J., Dec. 13, 2012 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc. ("Elite" or the "Company") ( ELTP ) today announced that Elite has in place an agreement for the next year with the Company's sole supplier of the active pharmaceutical ingredient ("API") for Elite's Phentermine product lines which include Phentermine HCl tablets 37.5 mg. and Phentermine HCl capsules 15 mg. and 30 mg.

A supply limitation was disclosed by Elite on October 15, 2012, but is now resolved for the next year. The purchase orders now in place will allow the Company to obtain adequate amounts of API, although at a substantially higher price than previously paid, to supply both the Phentermine tablet product and the soon to be launched Phentermine capsule products. Elite anticipates that some of the increase in API pricing could be offset with increased manufacturing efficiencies.