, May 5, 2014
/PRNewswire/ -- Elite Pharmaceuticals, Inc. (OTCQB: ELTP) develops oral sustained and controlled release products. Elite has eight commercial products currently being sold, twelve additional approved products pending manufacturing site transfer and 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.
ELTP has been in business since 1990 but came under new management in August of last year. Since then the company has embarked on an expansion, including the acquisition of new drug products and development agreements with other drug companies.
The company recently entered into a financing agreement with Lincoln Park Capital that could provide adequate funding for the company in the near term. The financing is in the form of a share purchase agreement.
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