NORTHVALE, N.J., Jan. 10, 2011 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (OTCBB:ELTP) and Hi-Tech Pharmacal Co., Inc. ("Hi-Tech) (Nasdaq:HITK) today announced that they have entered into an agreement for Elite to develop for Hi-Tech an intermediate for a generic version of a prescription product for which the branded product had sales in 2010 of over $100 million.
