Elite Pharmaceuticals Reports Financial Results for the Third Quarter of Fiscal Year 2018

Pharmaceutical Investing

Elite Pharmaceuticals (OTCBB:ELTP), a specialty pharmaceutical company developing abuse-deterrent opioids and niche generic products, announced results for the third quarter of fiscal year 2018 ended December 31, 2017. As quoted in the press release: Consolidated revenues for the third quarter were $2.5 million, an increase of $0.2 million or approximately 9% from the comparable period …

As quoted in the press release:

Consolidated revenues for the third quarter were $2.5 million, an increase of $0.2 million or approximately 9% from the comparable period in the prior year. The increase in revenue is primarily attributable to growth across Elite’s generic product lines. Elite continued to invest heavily in product developmentwhich resulted in the positive outcome in a pilot study conducted on SequestOX™ and, in February, the filing of an ANDA for the first product being co-developed with SunGen Pharma.

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