Mon, Jul 1, 9:04 PM (68 days ago)
Elite Pharmaceuticals, Inc. (Elite) is a specialty pharmaceutical company focused on developing and manufacturing oral, controlled-release, and generic pharmaceuticals. For the fiscal year ending March 31, 2024, Elite reported significant growth, with revenues of $56.6 million, up from $34.2 million in the previous year. The company achieved net income of $20.1 million, bolstered by a $19.6 million tax benefit, despite incurring $10.3 million in net other expenses. Elite's strategy includes developing high-barrier generic drug products, expanding its product pipeline, and forming strategic marketing alliances. The company operates a DEA-registered facility in Northvale, NJ, for manufacturing and research. Significant products include Phentermine, Naltrexone, and Amphetamine formulations, with new approvals for Vigabatrin and Methotrexate. Risk factors include regulatory compliance, market acceptance, competition, and reliance on third-party suppliers. The company faces challenges from potential regulatory changes, economic instability, and cybersecurity threats. Despite these risks, Elite's diversified product portfolio and strategic alliances position it for continued growth.