ELTP - Elite Pharmaceuticals Inc. Issues Statement on Product Approval Listing

NORTHVALE, NJ / ACCESSWIRE / November 24, 2020 / Elite Pharmaceuticals, Inc. (“Elite” or the “Company”) (OTCQB:ELTP) received inquiries about a recent ANDA approval listing for nifedipine under the company name of Elite Pharma. This ANDA approval is not a product developed by Elite. Elite's pipeline has been disclosed in our government filings, our website, or our quarterly conference calls and nifedipine is not one of our projects. Elite's commercial products are registered with the FDA under Elite Laboratories, Inc., a wholly-owned subsidiary of Elite Pharmaceuticals.

About Elite Pharmaceuticals, Inc.
Elite Pharmaceuticals, Inc. is a specialty pharmaceutical company which develops niche generic products. Elite specializes in developing and manufacturing oral, controlled-release drug products. Elite owns multiple generic products which have been licensed to Lannett Company, Glenmark Pharmaceuticals, Inc., and TAGI Pharma. Elite operates a cGMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ.

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, those related to the effects, if any, on future results, performance or other expectations that may have some correlation to the subject matter of this press release. Readers are cautioned that such forward-looking statements involve, without limitation, risks, uncertainties and other factors not under the control of Elite, which may cause actual results, performance or achievements of Elite to be materially different from the results, performance or other expectations that may be implied by these forward-looking statements. These forward-looking statements may include statements regarding the expected timing of approval, if at all, of products by the FDA, and the actions the FDA may require of Elite in order to obtain such approvals. These forward-looking statements are not guarantees of future action or performance. These risks and other factors are discussed, without limitation, in Elite's filings with the Securities and Exchange Commission, including its reports on forms 10-K, 10-Q, and 8-K. Elite is under no obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Elite Pharmaceuticals, Inc.
Dianne Will, Investor Relations
518-398-6222
Dianne@elitepharma.com
www.elitepharma.com

SOURCE: Elite Pharmaceuticals, Inc.