ELITE PHARMACEUTICALS INC

Elite Pharmaceuticals is a specialty pharmaceutical company reincorporated in Nevada on January 5, 2012. The company primarily develops and manufactures oral, controlled-release products and manufactures generic pharmaceuticals. Its strategy involves developing generic versions of controlled-release drug products that have high barriers to entry. Elite Pharmaceuticals operates from manufacturing, warehouse, laboratory, and office space at 135, 144, and 165 Ludlow Avenue in Northvale, NJ, referred to as the Northvale Facility. This facility adheres to Current Good Manufacturing Practice (cGMP) and is registered with the United States Drug Enforcement Agency (DEA) for research, development, and manufacturing activities. The company's strategy focuses on manufacturing a line of generic pharmaceutical products with approved Abbreviated New Drug Applications (ANDAs), developing additional generic pharmaceutical products, and developing other product candidates in its pipeline, including those co-developed with partners. Elite Pharmaceuticals also aims for commercial exploitation of its product candidates through sales under its own label, licensing and royalty collection, or manufacturing its formulations. Furthermore, the company develops new products for sale under its own label and expands licensing agreements with other pharmaceutical companies, including co-development projects, joint ventures, and other collaborations. Elite Pharmaceuticals evaluates opportunities for developing various drug products, including branded drug products requiring New Drug Applications (NDAs) under Section 505(b)(1) or 505(b)(2) of the Drug Price Competition and Patent Term Restoration Act of 1984, as well as generic drug products requiring ANDAs. The company believes its business strategy reduces risk through a diverse product portfolio.