Elite Pharmaceuticals (ELTP) 10-K 15 Jun 15 2015 FY Annual report Financial data

Document_And_Entity_Informatio

Document And Entity Information (USD $)	12 Months Ended
	Mar. 31, 2015	Sep. 30, 2014	Jun. 08, 2014
Document Information [Line Items]
Entity Registrant Name	ELITE PHARMACEUTICALS INC /NV/
Entity Central Index Key	1053369
Current Fiscal Year End Date	-28
Entity Filer Category	Accelerated Filer
Trading Symbol	ELTP
Document Type	10-K
Amendment Flag	FALSE
Entity Common Stock, Shares Outstanding			658,419,047
Document Period End Date	31-Mar-15
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2015
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float		$153,849,213

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Mar. 31, 2014
CURRENT ASSETS
Cash	$7,464,180	$6,941,777
Accounts receivable (net of allowance for doubtful accounts of $272,620 and $134,083 respectively)	1,446,441	732,076
Inventories	3,032,001	1,932,486
Prepaid expenses and other current assets	388,061	318,424
Total Current Assets	12,330,683	9,924,763
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $6,074,117 and $5,508,377, respectively	6,401,802	4,199,602
INTANGIBLE ASSETS	6,381,774	6,349,922
OTHER ASSETS
Investment	0	3,329,322
Security deposits	198,481	16,314
Restricted cash - debt service for EDA bonds	388,959	265,043
EDA bond offering costs, net of accumulated amortization of $135,874 and $121,697, respectively	218,579	232,756
Total Other Assets	806,019	3,843,435
TOTAL ASSETS	25,920,279	24,317,722
CURRENT LIABILITIES
Current portion of EDA bonds payable	210,000	3,385,000
Short term loans and current portion of long-term debt	265,165	18,870
Related Party Lines of Credit	583,071	528,750
Accounts payable and accrued expenses	3,997,528	2,214,871
Deferred revenues - current	13,333	13,333
Total Current Liabilities	5,069,097	6,160,824
LONG TERM LIABILITIES
EDA Bonds Payable - Non Current	2,065,000	0
Deferred revenues	125,557	138,890
Other long term liabilities	629,138	131,144
Derivative liability - preferred shares	35,000,000	60,981,570
Derivative liability - warrants	17,762,573	38,103,446
Total Long Term Liabilities	55,582,268	99,355,050
TOTAL LIABILITIES	60,651,365	105,515,874
STOCKHOLDERS' DEFICIT
Common stock - par value $0.001, Authorized 995,000,000 and 690,000,000 shares, respectively. Issued 631,160,701 shares and 560,242,430 shares, respectively. Outstanding 631,060,701 shares and 560,142,430 shares, respectively.	631,162	560,244
Additional paid-in-capital	161,021,568	143,555,091
Accumulated deficit	-196,076,975	-225,006,646
Treasury stock at cost (100,000 common shares)	-306,841	-306,841
TOTAL STOCKHOLDERS' DEFICIT	-34,731,087	-81,198,152
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$25,920,279	$24,317,722

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $)	Mar. 31, 2015	Mar. 31, 2014
Allowance for doubtful accounts (in dollars)	$272,620	$134,083
Accumulated depreciation on property and equipment (in dollars)	6,074,117	5,508,377
Accumulated amortization on EDA bond offering costs (in dollars)	$135,874	$121,697
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	995,000,000	690,000,000
Common stock, shares issued	631,160,701	560,242,430
Common stock, shares outstanding	631,060,701	560,142,430
Treasury stock, shares	100,000	100,000

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
REVENUES
Manufacturing Fees	$3,870,457	$2,982,400
Licensing Fees	1,139,789	1,536,039
Lab Fee Revenues	5,000	82,937
Total Revenues	5,015,246	4,601,376
COSTS OF REVENUES	3,013,592	3,236,106
Gross Profit	2,001,654	1,365,270
OPERATING EXPENSES
Research and Development	14,727,472	3,959,316
General and Administrative	2,904,114	2,105,725
Non-cash compensation through issuance of stock options	260,045	82,947
Depreciation and Amortization	616,995	500,906
Total Operating Expenses	18,508,626	6,648,894
(LOSS) FROM OPERATIONS	-16,506,971	-5,283,624
OTHER INCOME / (EXPENSES)
Interest expense, net	-287,231	-859,328
Change in fair value of warrant derivatives	18,447,573	-32,997,869
Change in fair value of preferred share derivatives	25,602,370	-56,518,425
Change in fair value of convertible note payable derivative	0	-1,187,879
Interest expense attributable to preferred share derivatives	0	-40,588
Gain on Sale of Investment	1,670,685	0
Other Income	0	19,831
Total Other Income / (Expense)	45,433,397	-91,584,258
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES	28,926,426	-96,867,882
CREDIT FOR INCOME TAXES	3,248	292,611
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS	$28,929,674	($96,575,271)
NET INCOME (LOSS) PER SHARE
Basic (in dollars per share)	$0.05	($0.21)
Diluted (in dollars per share)	($0.02)	($0.21)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
Basic (in shares)	591,214,959	463,021,991
Diluted (in shares)	757,579,152	463,021,991

CONSOLIDATED_STATEMENT_OF_CHAN

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS (DEFICIT) EQUITY (USD $)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Accumulated Deficit [Member]
Balane at Mar. 31, 2013	($8,673,385)	$374,495	$119,690,336	($306,841)	($128,431,375)
Balance (in shares) at Mar. 31, 2013		374,493,959		100,000
Net Income	-96,575,271				-96,575,271
Common shares sold pursuant to the Lincoln Park Capital purchase agreement	10,000,000	65,143	9,934,857
Common shares sold pursuant to the Lincoln Park Capital purchase agreement (in shares)		65,143,216
Conversion of Series B, Series C, Series E and Series I Preferred Shares into Common Shares	9,825,066	91,797	9,733,269
Conversion of Series B, Series C, Series E and Series I Preferred Shares into Common Shares (in shares)		91,796,043
Non-cash compensation through the issuance of stock options	82,947		82,947
Costs associated with raising capital (net of adjustments)	-47,987	5,858	-53,845
Costs associated with raising capital (net of adjustments) (in shares)		5,858,230
Issuance of Common Shares pursuant to the exercise of warrants	3,601,020	16,904	3,584,116
Issuance of Common Shares pursuant to the exercise of warrants (in shares)		16,904,038
Issuance of Common Shares pursuant to the exercise of options	24,300	308	23,992
Issuance of Common Shares pursuant to the exercise of options (in shares)	308,333	308,333
Common shares issued in payment of Directors’ Fees	110,000	1,211	108,789
Common shares issued in payment of Directors’ Fees (in shares)		1,210,583
Common shares issued in payment of employee salaries	368,233	3,439	364,794
Common shares issued in payment of employee salaries (in shares)		3,439,467
Common shares issued in payment of consulting expenses	18,836	210	18,626
Common shares issued in payment of consulting expenses (in shares)		210,018
Common shares issued in lieu of cash in payment of preferred share derivative interest expense	68,089	879	67,210
Common shares issued in lieu of cash in payment of preferred share derivative interest expense (in shares)		878,543
Balance at Mar. 31, 2014	-81,198,152	560,244	143,555,092	-306,841	-225,006,646
Balance (in shares) at Mar. 31, 2014		560,242,430		100,000
Net Income	28,929,674				28,929,674
Common shares sold pursuant to the Lincoln Park Capital purchase agreement	13,236,624	47,172	13,189,452
Common shares sold pursuant to the Lincoln Park Capital purchase agreement (in shares)		47,172,240
Common shares issued as commitment shares pursuant to the Lincoln Park Capital purchase agreement	0	2,567	-2,567
Common shares issued as commitment shares pursuant to the Lincoln Park Capital purchase agreement (in shares)		2,566,861
Conversion of Series B, Series C, Series E and Series I Preferred Shares into Common Shares	2,272,500	6,060	2,266,440
Conversion of Series B, Series C, Series E and Series I Preferred Shares into Common Shares (in shares)		6,060,000
Non-cash compensation through the issuance of stock options	260,047		260,047
Costs associated with raising capital (net of adjustments)	-16,365		-16,365
Costs associated with raising capital (net of adjustments) (in shares)		2,566,861
Issuance of Common Shares pursuant to the exercise of warrants	774,853	11,985	762,868
Issuance of Common Shares pursuant to the exercise of warrants (in shares)		11,985,388
Issuance of Common Shares pursuant to the exercise of options	26,000	223	25,777
Issuance of Common Shares pursuant to the exercise of options (in shares)	223,334	223,334
Common shares issued in payment of Directors’ Fees	110,000	322	109,678
Common shares issued in payment of Directors’ Fees (in shares)		321,611
Common shares issued in payment of employee salaries	849,737	2,519	847,218
Common shares issued in payment of employee salaries (in shares)		2,518,668
Common shares issued in payment of consulting expenses	23,999	70	23,929
Common shares issued in payment of consulting expenses (in shares)		70,169
Common shares issued in lieu of cash in payment of preferred share derivative interest expense	0
Balance at Mar. 31, 2015	($34,731,087)	$631,162	$161,021,568	($306,841)	($196,076,975)
Balance (in shares) at Mar. 31, 2015		631,160,701		100,000

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)	$28,929,674	($96,575,271)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	581,855	453,746
Change in fair value of warrant derivative liability	-18,447,573	32,997,869
Change in fair value of preferred share derivative liability	-25,602,370	56,518,425
Change in value of convertible note payable derivative	0	1,187,879
Preferred share derivative interest satisfied by the issuance of common stock		68,089
Salaries and Directors Fees satisfied by the issuance of common stock	959,737	478,233
Consulting expenses paid via the issuance of common stock	23,999	18,836
Non-cash compensation satisfied by the issuance of common stock and options	260,047	82,947
Non-cash interest expense	0	568,395
Non-cash rent expense	23,703	-49,439
Non-cash lease accretion	1,526	1,438
Gain on Sale of Investment	-1,670,685	0
Changes in Assets and Liabilities
Accounts receivable	-714,365	-66,922
Inventories	-1,099,518	-574,340
Prepaid and other current assets	-147,188	-169,373
Accounts payable, accrued expenses and other current liabilities	1,811,258	883,446
Deferred revenues and Customer deposits	-13,333	-13,333
Derivative interest payable	0	-27,500
NET CASH USED IN OPERATING ACTIVITIES	-15,103,233	-4,216,875
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	-1,545,131	-455,323
Cost of leasehold improvements	-419,887	-46,945
Costs incurred for intellectual property assets	-31,853	-58,178
Withdrawals from restricted cash, net	-123,916	2,777
Proceeds from Sale of Investment in Novel	5,000,000	0
NET CASH USED IN INVESTING ACTIVITIES	2,879,213	-557,669
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from Exercise of Cash Warrants and Options	800,853	868,050
Proceeds from draws against related party Credit Lines	54,322	528,750
Payment of NJEDA Bonds	-1,110,000
Other loan payments	-219,010	-1,515
Proceeds from sale of common stock to Lincoln Park Capital	13,236,624	10,000,000
Costs associated with raising capital	-16,365	-47,987
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	12,746,424	11,347,299
NET CHANGE IN CASH AND CASH EQUIVALENTS	522,403	6,572,754
CASH AND CASH EQUIVALENTS - beginning of period	6,941,777	369,023
CASH AND CASH EQUIVALENTS - end of period	7,464,180	6,941,777
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	89,336	289,494
Cash paid for taxes	2,500	3,099
SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Commitment shares issued to Lincoln Park Capital	830,521	1,112,838
Conversion of Preferred Shares to Common Shares	2,272,500	9,825,066
Acquisition of Intellectual Property with convertible note payable	0	5,597,317
Issuance of note payable to related party in payment of balance due on line of credit owed to the same related party	0	600,000
Issuance of Series I Preferred Shares in satisfaction of amounts due on Notes Payable	0	7,953,591
Financing of equipment purchases	$804,861	$107,960

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]		NOTE 1	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	BASIS OF PRESENTATION
	The accompanying audited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”)
	PRINCIPLES OF CONSOLIDATION
	The consolidated financial statements include the accounts of Elite Pharmaceuticals, Inc. and its wholly-owned subsidiary, Elite Laboratories, Inc. (“Elite Labs”, and collectively, the “Company”) for the years ended March 31, 2015 (“Fiscal 2015”) and 2014 (“Fiscal 2014”). As of March 31, 2015, the financial statements of its wholly-owned entity are consolidated and all significant intercompany accounts are eliminated upon consolidation.
	NATURE OF BUSINESS
	Elite Pharmaceuticals, Inc. was incorporated on October 1, 1997 under the laws of the State of Delaware, and its wholly-owned subsidiary Elite Laboratories, Inc. was incorporated on August 23, 1990 under the laws of the State of Delaware. On January 5, 2012, Elite Pharmaceuticals was reincorporated under the laws of the State of Nevada. Elite Labs engages primarily in researching, developing and licensing proprietary controlled-release drug delivery systems and products. The Company is also equipped to manufacture controlled-release products on a contract basis for third parties and itself if and when the products are approved; however the Company has concentrated on developing orally administered controlled-release products. These products include drugs that cover therapeutic areas for pain, allergy and infection. The Company also engages in research and development activities for the purpose of obtaining Food and Drug Administration approval, and, thereafter, commercially exploiting generic and new controlled-release pharmaceutical products. The Company also engages in contract research and development on behalf of other pharmaceutical companies.
	CASH
	The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents consist of cash on deposit with banks and money market instruments. The Company places its cash and cash equivalents with high-quality, U.S. financial institutions and, to date has not experienced losses on any of its balances.
	INVENTORIES
	Inventories are stated at the lower of cost (first-in, first-out basis) or market (net realizable value).
	LONG-LIVED ASSETS
	The Company periodically evaluates the fair value of long-lived assets, which include property and equipment and intangibles, whenever events or changes in circumstances indicate that its carrying amounts may not be recoverable. Such conditions may include an economic downturn or a change in the assessment of future operations. A charge for impairment is recognized whenever the carrying amount of a long-lived asset exceeds its fair value. Management has determined that no impairment of long-lived assets has occurred.
	Property and equipment are stated at cost. Depreciation is provided on the straight-line method based on the estimated useful lives of the respective assets which range from five to forty years. Major repairs or improvements are capitalized. Minor replacements and maintenance and repairs which do not improve or extend asset lives are expensed currently.
	Upon retirement or other disposition of assets, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is recognized in income.
	Costs incurred to acquire intangible assets such as for the application of patents and trademarks are capitalized and amortized on the straight-line method, based on their estimated useful lives ranging from five to twenty years, commencing upon approval of the patent and trademarks. Such costs are charged to expense if the patent or trademark is unsuccessful.
	RESEARCH AND DEVELOPMENT
	Research and development expenditures are charged to expense as incurred.
	CONCENTRATION OF CREDIT RISK
	The Company maintains cash balances, which, at times, may exceed the amounts insured by the Federal Deposit Insurance Corp. Uninsured balances at March 31, 2015 are $7,464,180. Management does not believe that there is any significant risk of losses.
	The Company in the normal course of business extends credit to its customers based on contract terms and performs ongoing credit evaluations. An allowance for doubtful accounts due to uncertainty of collection is established based on historical collection experience. Amounts are written off when payment is not received after exhaustive collection efforts. During Fiscal 2015 and Fiscal 2014 the Company generated all its revenues from seven and ten companies, respectively. The termination of the contracts with either of such companies will result in the loss of a significant amount of revenues currently being earned.
	USE OF ESTIMATES
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made by management include, but are not limited to, the recognition of revenue, the amount of the allowance for doubtful accounts receivable and the fair value of intangible assets, stock-based awards and derivatives.
	INCOME TAXES
	The Company uses the liability method for reporting income taxes, under which current and deferred tax liabilities and assets are recorded in accordance with enacted tax laws and rates. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Under the liability method, the amounts of deferred tax liabilities and assets at the end of each period are determined using the tax rate expected to be in effect when taxes are actually paid or recovered. Further tax benefits are recognized when it is more likely than not, that such benefits will be realized. Valuation allowances are provided to reduce deferred tax assets to the amount considered likely to be realized.
	GAAP prescribes a recognition threshold and measurement attribute for how a company should recognize, measure, present, and disclose in its financial statements uncertain tax positions that the company has taken or expects to take on a tax return. GAAP requires that the financial statements reflect expected future tax consequences of such positions presuming the taxing authorities’ full knowledge of the position and all relevant facts, but without considering time values. No adjustments related to uncertain tax positions were recognized during Fiscal 2015 and Fiscal 2014.
	The Company recognizes interest and penalties related to uncertain tax positions as a reduction of the income tax benefit. No interest and penalties related to uncertain tax positions were accrued as of March 31, 2015 and March 31, 2014.
	The Company operates in multiple tax jurisdictions within the United States of America. Although we do not believe that we are currently under examination in any of our major tax jurisdictions, we remain subject to examination in all of our tax jurisdiction until the applicable statutes of limitation expire. As of March 31, 2015, a summary of the tax years that remain subject to examination in our major tax jurisdictions are: United States – Federal, 2010 and forward, and State, 2006 and forward. The Company did not record unrecognized tax positions for the years ended March 31, 2015 and 2015.
	EARNINGS PER COMMON SHARE
	Basic earnings per common share is calculated by dividing net earnings by the weighted average number of shares outstanding during each period presented. Diluted earnings per share are calculated by dividing earnings by the weighted average number of shares and common stock equivalents. The Company’s common stock equivalents consist of options, warrants and convertible securities.
	REVENUE RECOGNITION
	Revenues earned under manufacturing agreements with other pharmaceutical companies are recognized on the date of shipment of the product, when title for the goods is transferred, and for which the price is agreed to and it has been determined that collectability is reasonably assured.
	Revenues derived from royalties and profit splits are recognized when such are reasonably estimable and collectible. Revenues from royalties and profit splits which cannot be reasonably estimated are recognized when the payment is received.
	Revenues derived from providing research and development services under contracts with other pharmaceutical companies are recognized when earned. These contracts provide for non-refundable upfront and milestone payments. Because no discrete earnings event has occurred when the upfront payment is received, that amount is deferred until the achievement of a defined milestone. Each nonrefundable milestone payment is recognized as revenue when the performance criteria for that milestone have been met. Under each contract, the milestones are defined, substantive effort is required to achieve the milestone, the amount of the non-refundable milestone payment is reasonable, commensurate with the effort expended, and achievement of the milestone is reasonably assured.
	Revenues earned in relation to the licensing of certain pharmaceutical products developed by or ANDA’s owned by the Company are recognized pursuant to the terms and conditions of the applicable licensing agreements. Such licensing revenues include, without limitation, milestone fees, for which revenues are recognized when a milestone, as defined in a licensing agreement, is achieved, for which licensing revenues which are determined by in-market product sales, and for which revenues are recognized when earned as per the terms and conditions of the applicable licensing agreement.
	TREASURY STOCK
	The Company records common shares purchased and held in treasury at cost.
	FAIR VALUE OF FINANCIAL INSTRUMENTS
	The carrying amounts of current assets and liabilities approximate fair value due to the short-term nature of these instruments. The carrying amounts of noncurrent assets are reasonable estimates of their fair values based on management’s evaluation of future cash flows. The long-term liabilities are carried at amounts that approximate fair value based on borrowing rates available to the Company for obligations with similar terms, degrees of risk and remaining maturities.
	STOCK-BASED COMPENSATION
	The Company accounts for all stock-based payments and awards under the fair value based method. Stock-based payments to non-employees are measured at the fair value of the consideration received, or the fair value of the equity instruments issued, or liabilities incurred, whichever is more reliably measurable. The fair value of stock-based payments to non-employees is periodically re-measured until the counterparty performance is complete, and any change therein is recognized over the vesting period of the award and in the same manner as if the Company had paid cash instead of paying with or using equity based instruments on an accelerated basis. The cost of the stock-based payments to nonemployees that are fully vested and non-forfeitable as at the grant date is measured and recognized at that date, unless there is a contractual term for services in which case such compensation would be amortized over the contractual term.
	The Company accounts for the granting of share purchase options to employees using the fair value method whereby all awards to employees will be recorded at fair value on the date of the grant. Share based awards granted to employees with a performance condition are measured based on the probable outcome of that performance condition during the requisite service period. Such an award with a performance condition is accrued if it is probable that a performance condition will be achieved. Compensation costs for stock-based payments to employees that do not include performance conditions are recognized on a straight-line basis. The fair value of all share purchase options is expensed over their vesting period with a corresponding increase to additional capital surplus. Upon exercise of share purchase options, the consideration paid by the option holder, together with the amount previously recognized in additional capital surplus, is recorded as an increase to share capital
	The Company uses the Black-Scholes option valuation model to calculate the fair value of share purchase options at the date of the grant. Option pricing models require the input of highly subjective assumptions, including the expected price volatility. Changes in these assumptions can materially affect the fair value estimate.
	The compensation expense recognized for the years ended March 31, 2015 and 2014 was $260,045 and $82,947, respectively.
	FAIR VALUE MEASUREMENTS
	The Company adopted Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures, for financial and non-financial assets and liabilities.
	ASC 820 discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The Company utilizes the market approach. The statement utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:
	Level 1:    Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.
	Level 2:    Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.
	Level 3:    Unobservable inputs that reflect the reporting entity’s own assumptions.
	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
	In May 2014, the Financial Accounting Standards Board issued amended accounting guidance on revenue recognition that will be applied to all contracts with customers. The objective of the new guidance is to improve comparability of revenue recognition practices across entities and to provide more useful information to users of financial statements through improved disclosure requirements. This guidance is effective for annual and interim periods beginning in 2017. Early adoption is not permitted. The Company is currently assessing the impact of adoption on its consolidated financial statements.

INVENTORIES

INVENTORIES	12 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	NOTE 2	INVENTORIES
	Inventories are recorded at the lower of cost or market.  Inventories at March 31, 2015 and 2014 consist of the following:
			2015		2014
	Finished Goods		$	122,772	$	—
	Work-in-Process			58,770		409,146
	Raw Materials			2,850,459		1,523,341
			$	3,032,001	$	1,932,487

PROPERTY_AND_EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Mar. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	NOTE 3     -	PROPERTY AND EQUIPMENT
	Property and equipment at March 31, 2015 and 2014 consists of the following:
			2015		2014
	Laboratory manufacturing, and warehouse equipment		$	7,593,017	$	5,952,084
	Office equipment and Software			209,551		95,309
	Furniture and fixtures			49,804		49,804
	Transportation equipment			66,855		66,855
	Land, building and improvements			4,556,692		3,543,927
				12,475,919		9,707,979
	Less: Accumulated depreciation			-6,074,117		-5,508,377
			$	6,401,802	$	4,199,602
	Depreciation expense amounted to $567,679 and $486,726 for the years ended March 31, 2015 and 2014, respectively.

INTANGIBLE_ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets Disclosure [Text Block]	NOTE 4     -	INTANGIBLE ASSETS
	Costs to acquire intangible assets, such as asset purchases of Abbreviated New Drug Applications (“ANDA’s”) which are approved by the FDA or costs incurred in the application of patents are capitalized and amortized on the straight-line method, based on their estimated useful lives ranging from five to fifteen years, commencing upon approval of the patent or site transfers required for commercialization of an acquired ANDA. Such costs are charged to expense if the patent application or ANDA site transfer is unsuccessful.
	As of March 31, 2015 and 2014, the following costs were recorded as intangible assets on the Company’s balance sheet:
			2015		2014
	Intangible assets at beginning of fiscal year
	Patent application costs		$	302,602	$	244,424
	ANDA acquisitions			6,047,317		450,000
	Less: Accumulated Amortization			—		—
	Net Intangible Assets at beginning of fiscal year		$	6,349,922	$	694,424
	Intangible asset costs capitalized during the fiscal year
	Patent application costs		$	31,855	$	58,178
	ANDA acquisition costs			—		5,597,317
	Total cost of intangible assets capitalized		$	31,853	$	5,655,495
	Intangible assets at end of fiscal year
	Patent application costs		$	334,457	$	302,602
	ANDA acquisition costs			6,047,317		6,047,317
	Less: Accumulated Amortization
	Net Intangible Assets		$	6,381,774	$	6,349,922
	The costs incurred in patent applications totaling $31,855 and $58,178 for Fiscal 2015 and Fiscal 2014, respectively, were all related to our abuse resistant and extended release opioid product lines. The Company is continuing its efforts to achieve approval of such patents. Additional costs incurred in relation to such patent applications will be capitalized as intangible assets, with amortization of such costs to commence upon approval of the patents and commercialization of products utilizing the patented technologies.
	The ANDA acquisition costs of $450,000 recorded as of the beginning of Fiscal 2014 and included as a part of intangible assets as of March 31, 2014 and March 31, 2013, are related to our acquisition of the ANDA for Phentermine 37.5mg tablets.
	The ANDA acquisition costs incurred during Fiscal 2014, totaling approximately $5.6 million consist of 12 approved ANDA’s (the “Mikah Approved ANDAs”) and one ANDA that is under active review with the FDA (the “Mikah ANDA Application Product”) which were acquired from Mikah Pharma LLC (“Mikah”) pursuant an asset purchase agreement between the Company and Mikah dated August 1, 2013 (the “Mikah Asset Purchase Agreement”). A Current Report on Form 8-K was filed with the SEC on August 5, 2013 in relation to the Mikah Asset Purchase Agreement, with such filing being herein incorporated by reference.

INVESTMENT_IN_NOVEL_LABORATORI

INVESTMENT IN NOVEL LABORATORIES INC.	12 Months Ended
	Mar. 31, 2015
Cost Method Investments In Joint Ventures Disclosure [Abstract]
Cost Method Investments In Joint Ventures Disclosure [Text Block]		NOTE 5	INVESTMENT IN NOVEL LABORATORIES INC.
	At the end of 2006, Elite entered into a joint venture with VGS Pharma, LLC (“VGS”) and created Novel Laboratories, Inc. (“Novel”), a privately-held company specializing in pharmaceutical research, development, manufacturing, licensing, acquisition and marketing of specialty generic pharmaceuticals. Novel's business strategy is to focus on its core strength in identifying and timely executing niche business opportunities in the generic pharmaceutical area. Elite’s ownership interest in Novel consisted of 9,800 shares of Novel’s Class A Voting Common Stock. As of October 1, 2007, Elite deconsolidated its financial statements from Novel and the investment in Novel was accounted for under the cost method of accounting.
	On June 10, 2014, the Company received $5 million in exchange for the 9,800 shares of Novel’s Class A Voting Common Stock owned by the Company. At the time of this transaction, the investment had a book value of $3,329,322, with a gain on sale of investment of $1,670,685 being realized and recorded as an other income item.

NJEDA_BONDS

NJEDA BONDS	12 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]		NOTE 6      -	NJEDA BONDS
	Summary Description and History of NJEDA Bonds
	On August 31, 2005, the Company successfully completed a refinancing of a prior 1999 bond issue through the issuance of new tax-exempt bonds (the “Bonds”) via the issuance of the following:
	Description		Principal		Interest			Maturity
			Amount		Rate
			On
			Issue Date
	Series A Note		$	3,660,000		6.5	%	1-Sep-30
	Series B Note			495,000		9	%	1-Sep-12
	The net proceeds, after payment of issuance costs, were used (i) to redeem the outstanding tax-exempt Bonds originally issued by the Authority on September 2, 1999, (ii) refinance other equipment financing and (iii) for the purchase of certain equipment to be used in the manufacture of pharmaceutical products. As of March 31, 2015, all of the proceeds were utilized by the Company for such stated purposes.
	On July 23, 2014, the Company retired all outstanding Series B notes, at par, along with all accrued interest due and owing as of such date. As of March 31, 2015, there are no amounts due and owing in relation the Series B notes.
	Interest is payable semiannually on March 1 and September 1 of each year. The Bonds are collateralized by a first lien on the Company’s facility and equipment acquired with the proceeds of the original and refinanced Bonds. The related Indenture requires the maintenance of a Debt Service Reserve Fund of $366,000 in relation to the Series A Notes.
	The Debt Service Reserve is maintained in restricted cash accounts that are classified in Other Assets.
	Bond issue costs were paid from the bond proceeds and are being amortized over the life of the bonds. These costs and amortization activity are summarized as follows:
	Description		Balances		Amortization			Balances
			As of		Expense			As of
			31-Mar-14		Current YTD			31-Mar-15
	Bond Issue Costs		$	354,453				$	354,453
	Accumulated Amortization			-121,697		-14,177			-135,874
	Unamortized Balance		$	232,756				$	218,579
	The NJEDA Bonds require the Company to make an annual principal payment on September 1st of varying amounts as specified in the loan documents and semi-annual interest payments on March 1st and September 1st, equal to interest due on the outstanding principal at the applicable rate for the semi-annual period just ended.
	Balance Sheet Classification of Bond Liability
	Due to the issuance of a Notice of Default being received from the Trustee, and as the event of default was not waived or rescinded as of March 31, 2014, the Company classified the entire principal balance due on the NJEDA Bonds as a current liability, as of such date.
	During Fiscal 2015, all monetary defaults were cured and accordingly, bond principal amounts scheduled to mature within 12 months of March 31, 2015 were recorded as current liabilities as of such date. All bond principal amounts scheduled to mature on dates later than March 31, 2016 were recorded as non-current liabilities as of March 31, 2015.
	Bond financing consisting of the following, as of March 31,
			2015		2014
	Refinanced NJEDA Bonds		$	2,275,000	$	3,385,000
	Current portion			-210,000		(3,385,000
	Long term portion, net of current maturities		$	2,065,000	$	—
	Maturities of Bonds for the next five years are as follows:
	YEAR ENDING MARCH 31,		AMOUNT
	2016		$	210,000
	2017			220,000
	2018			85,000
	2019			90,000
	2020			95,000
	Thereafter			1,575,000
			$	2,275,000

LOANS_PAYABLE_AND_LONG_TERM_DE

LOANS PAYABLE AND LONG TERM DEBT	12 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Long-term Debt [Text Block]	NOTE 7     -	LOANS PAYABLE AND LONG TERM DEBT
	Loans Payable
	During the ordinary course of business, the Company has secured loans to support the collateralized financing of fixed asset acquisition, or the renewal of insurance policies. The Company has secured such loans with initial principal amounts totaling $909,477 and $107,960 during Fiscal 2015 and Fiscal 2014, respectively. Payment terms of these loans range from 9 months to 60 months at annual interest rates that range from 5.7% to 13.1%.
	Principal amounts scheduled for payment within 12 months of the balance sheet date are classified as current liabilities on the balance sheet.
	Principal amounts scheduled for payment on dates later than 12 months after the balance sheet date are classified as non-current liabilities on the balance sheet.
	Loans payable and long term debt consisted of the following:
			March 31, 2015				March 31, 2014
			Current		Long-		Current		Long-
					Term				Term
	Equipment and Insurance financing loans payable		$	265,165	$	560,338	$	18,870	$	87,574
	Deferred Rent-135 Ludlow Ave Lease (see note 9)					42,524				18,821
	Lease termination costs – 135 Ludlow Ave lease (see note 9)			—		26,275		—		24,749
	TOTAL		$	265,165	$	629,137	$	18,870	$	131,144
	Loan principal payments for the next five years are as follows:
	YEAR ENDING MARCH 31,		AMOUNT
	2016		$	265,165
	2017			250,856
	2018			137,711
	2019			104,676
	2020			67,095
	Thereafter			—
			$	825,503

RELATED_PARTY_LINES_OF_CREDIT_

RELATED PARTY LINES OF CREDIT AND NOTES PAYABLE	12 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions Lines Of Credit And Notes Payable [Text Block]		NOTE 8     -	RELATED PARTY LINES OF CREDIT AND NOTES PAYABLE
	Hakim $1,000,000 Bridge Revolving Credit Line
	On October 15, 2013 (the “Hakim Credit Line Effective Date”), we entered into a bridge loan agreement (the “Hakim Loan Agreement”) with Mr. Nasrat Hakim, our President and CEO. Under the terms of the Hakim Loan Agreement, we have the right, in our sole discretion, to a line of credit (“Hakim Credit Line”) in the maximum principal amount of up to $1,000,000 at any one time. Mr. Hakim provided the Credit Line for the purpose of supporting the acceleration of our product development activities. The outstanding amount will be evidenced by a promissory note which shall mature on March 31, 2016, as amended., at which time the entire unpaid principal balance plus accrued interest thereon shall be due and payable in full. We may prepay any amounts owed without penalty. Any such prepayments shall first be attributable to interest due and owing and then to principal. Interest only shall be payable quarterly on January 1, April 1, July 1 and October 1 of each year. Prior to maturity or the occurrence of an Event of Default as defined in the Hakim Loan Agreement, we may borrow, repay, and reborrow under the Hakim Credit Line through maturity. Amounts borrowed under the Hakim Credit Line will bear interest at the rate of ten percent (10%) per annum.
	As of March 31, 2015, the principal balance owed under the Hakim Credit Line was $583,071, with an additional $18,105 in accrued interest being also owed, in accordance with the terms and conditions of the Hakim Credit Line.
	As of March 31, 2014, the principal balance owed under the Credit Line was $528,750 with an additional $9,810 in accrued interest being also owed, in accordance with the terms and conditions of the Credit Line.
	Convertible Note Payable to Mikah Pharma LLC
	On August 1, 2013, Elite Laboratories Inc. (“Elite Labs”), a wholly owned subsidiary of the Company, executed an asset purchase agreement (the “Mikah Purchase Agreement”) with Mikah Pharma LLC (“Mikah”), an entity that is wholly owned by Mr. Nasrat Hakim, who, in conjunction with this transaction, was appointed as Elite’s CEO, President and a Director on August 2, 2012, and acquired from Mikah a total of 13 Abbreviated New Drug Applications (“ANDAs”) consisting of 12 ANDAs approved by the FDA and one ANDA under active review with the FDA, and all amendments thereto (the “Acquisition”) for aggregate consideration of $10,000,000, inclusive of imputed interest payable pursuant to a non-interest bearing, secured convertible note due in August 2016 (the “Mikah Note”). The Mikah Note was amended on February 7, 2014 to make it convertible into shares of the Company’s Series I Convertible Preferred Stock.
	The Mikah Note, as amended, was interest free and due and payable on the third anniversary of its issuance. Subject to certain limitations, the principal amount of the Mikah Note was convertible at the option of Mikah into shares of Common Stock at a rate of $0.07 (approximately 14,286 shares per $1,000 in principal amount), the closing market price of the Company’s Common Stock on the date that the asset purchase agreement and Note were executed and/or into shares of the Company’s Series I Convertible Preferred Stock at the rate of 1 share of Series I Preferred Stock for each $100,000 of principal owed on the Mikah Note. The conversion rate was adjustable for customary corporate actions such as stock splits and, subject to certain exclusions, includes weighted average anti-dilution for common stock transactions at prices below the then applicable conversion rate. Pursuant to a security agreement (the “Security Agreement”), repayment of the Mikah Note was secured by the ANDAs acquired in the Acquisition.
	On February 7, 2014, Mikah converted the principal amount of $10,000,000, representing the entire principal balance due under the Mikah Note, into 100 shares of the Company’s Series I Preferred Stock, with the Mikah Note being retired.

LEASES_OF_RENTAL_PROPERTIES

LEASES OF RENTAL PROPERTIES	12 Months Ended
	Mar. 31, 2015
Leases, Operating [Abstract]
Operating Leases of Lessor Disclosure [Text Block]		NOTE 9     -	LEASES OF RENTAL PROPERTIES
	The following leases for rental properties were operative during the year ended March 31, 2015:
			135 Ludlow Ave
			(see notes 10 and 11)
	Effective Date			1-Jul-10	(c)
	Termination Date			31-Dec-16
	Lease term			6 years with 2 tenant renewal options for 5 years each
	Rent expense for the 2015 Fiscal Year		$	153,430
	Rent expense for the 2014 Fiscal Year		$	33,820
	Minimum 5 Year Lease Payments(a)
	Fiscal year ended March 31, 2016(b)			203,850
	Fiscal year ended March 31, 2017(b)			155,169
	Fiscal year ended March 31, 2018(b)			—
	Fiscal year ended March 31, 2019(b)			—
	Fiscal year ended March 31, 2020(b)			—
			$	359,019
		(a)	Minimum lease payments are exclusive of additional expenses related to certain expenses incurred in the operation and maintenance of the premises, including, without limitation, real estate taxes and common area charges which may be due under the terms and conditions of the lease.
		(b)	Minimum lease payments calculated for the initial term of the lease only, with such initial term expiring on December 31, 2016.
		(c)	Inclusive of a modification of lease agreement dated July 29, 2014
	Rent expense related to the operating lease at 135 Ludlow was recorded using the straight line method and summarized as follows:
	Summary of Rent Expense – 135 Ludlow Avenue
			Fiscal Year			Fiscal Year
			Ended			Ended
			31-Mar-15			31-Mar-14
	Rent Expense		$	153,430		$	33,820
	Actual lease payments			114,321			83,259
	Increase in deferred rent liability			39,109			7,079
	Adjustments to deferred rent liability			-15,409			-56,518
	Balance of deferred rent liability			42,524			18,824

LEASE_OF_135_LUDLOW_AVENUE

LEASE OF 135 LUDLOW AVENUE	12 Months Ended
	Mar. 31, 2015
Operating Leases Rental Properties 135 Ludlow Avenue Disclosure [Abstract]
Operating Leases Rental Properties 135 Ludlow Avenue Disclosure [Text Block]		NOTE 10     -	LEASE OF 135 LUDLOW AVENUE
	The Company entered into a lease for a portion of a one-story warehouse, located at 135 Ludlow Avenue, Northvale, New Jersey, consisting of approximately 15,000 square feet of floor space. The lease term began on July 1, 2010 and is classified as an operating lease.
	On July 29, 2014, the Company modified this operating lease, with the material terms of the modification including the Company being permitted to occupy the entire 35,000 square feet in the building, with this expansion being necessary to support the Company’s growing and projected commercial operations.
	The lease, as modified, includes an initial term which expires on December 31, 2016 and two tenant renewal options of five years each, with such options being at the sole discretion of the Company. The property related to this lease will be used for the storage of pharmaceutical finished goods, raw materials, equipment and documents as well as pharmaceutical manufacturing, packaging, distribution activities and related regulatory activities.
	The additional 20,000 square feet for which the Company secured occupancy rights pursuant to the July 2014 modification agreement requires significant leasehold improvements and qualification as a prerequisite for its intended future use. These improvements are currently in progress.
	Please refer to Note 9 of these financial statements for details on minimum lease payments, rent expense and deferred rent liabilities.

LEASE_TERMINATION_COSTS_135_LU

LEASE TERMINATION COSTS - 135 LUDLOW AVENUE	12 Months Ended
	Mar. 31, 2015
Operating Leases Rental Properties Termination Costs Disclosure [Abstract]
Operating Leases Rental Properties Termination Costs Disclosure [Text Block]	NOTE 11   -	LEASE TERMINATION COSTS - 135 LUDLOW AVENUE
	The lease for the property located at 135 Ludlow Avenue, Northvale NJ, includes a requirement that, at termination, the Company return the property to its condition at the inception of the lease, with normal wear and tear excepted. Such requirement accordingly represents an unconditional obligation associated with the retirement of a long-lived asset and subject to ASC 410 of the Codification. The Company estimates such costs would amount to $50,000, at lease termination, and pursuant to ASC 410 has recorded a liability and offsetting asset equal to the present value, at lease inception, of such obligation. This liability is accreted over the term of the lease (including extensions), using the interest method.

DEFERRED_REVENUES

DEFERRED REVENUES	12 Months Ended
	Mar. 31, 2015
Deferred Revenue Disclosure [Abstract]
Deferred Revenue Disclosure [Text Block]		NOTE 12   -	DEFERRED REVENUES
	Deferred revenues in the aggregate amount of $138,889, consisting of a current component of $13,333 and a long term component of $125,556 represents the unamortized amount of a $200,000 advance payment received for a licensing agreement with a fifteen year term beginning in September 2010 and ending in August 2025. The advance payment was recorded as deferred revenue when received and is earned, on a straight line basis over the fifteen year life of the license. The current component is equal to the amount of revenue to be earned during the 12 month period immediately subsequent to the balance date and the long term component is equal to the amount of revenue to be earned thereafter.

DERIVATIVE_LIABILITIES_PREFERR

DERIVATIVE LIABILITIES - PREFERRED SHARES	12 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]		NOTE 13   -	DERIVATIVE LIABILITIES – PREFERRED SHARES
	Accounting Standard Codification “ASC” 815 – Derivatives and Hedging, which provides guidance on determining what types of instruments or embedded features in an instrument issued by a reporting entity can be considered indexed to its own stock for the purpose of evaluating the first criteria of the scope exception in the pronouncement on accounting for derivatives. These requirements can affect the accounting for warrants and convertible preferred instruments issued by the Company. As the conversion features within, and the detachable warrants issued with the Company’s Series E and Series I Preferred Stock, do not have fixed settlement provisions because their conversion and exercise prices may be lowered if the Company issues securities at lower prices in the future, we have concluded that the instruments are not indexed to the Company’s stock and are to be treated as derivative liabilities.
	The Preferred Stock Derivative Liabilities are measured at fair market value, using the market approach and a level 1 fair value hierarchy, on a recurring basis as of March 31, 2015 and March 31, 2014, in accordance with the valuation techniques discussed in ASC 820.
	Preferred Stock Derivative Liabilities – Fiscal 2015
			Series I		Total
	Preferred Shares Authorized			500
	Preferred shares Outstanding as of March 31, 2015			100		100
	Underlying common shares into which Preferred may convert			142,857,143		142,857,143
	Closing price on valuation date		$	0.245	$	0.245
	Preferred stock derivative liability at March 31, 2015		$	35,000,000	$	35,000,000
	Change in preferred stock derivative liability for Fiscal 2015				$	-25,602,370
	The change of ($25,602,370) in value of the preferred stock derivative liability occurring during Fiscal 2015 is included in the amount reported in the “Other Income/(Expense)” section of the statement of operations. Increases in value are reported as other expenses and decreases in value are reported as other income. During Fiscal 2015 there was a net decrease in the value of the preferred stock derivative liability, so therefore the amount shown above represents an other income item on the income statement.
			Preferred Stock Derivative Liabilities – Fiscal 2014
			Series C		Series E		Series I		Total
	Preferred Shares Authorized			3,200		4,000		500
	Preferred shares Outstanding as of March 31, 2014			—		—		104.242		104.242
	Underlying common shares into which Preferred may convert			—		—		148,917,143		148,917,143
	Closing price on valuation date						$	0.41	$	0.41
	Preferred stock derivative liability at March 31, 2014		$	—	$	—	$	60,981,570	$	60,981,570
	Change in Preferred Derivative Liability for Fiscal 2014								$	56,518,425
	The change of $56,518,425 in value of the preferred stock derivative liability occurring during Fiscal 2014 is included in the amount reported in the “Other Income/(Expense)” section of the statement of operations. Increases in value are reported as other expenses and decreases in value are reported as other income. During Fiscal 2014 there was a net increase in the value of the preferred stock derivative liability, so therefore the amount shown above represents another expense item on the income statement.

DERIVATIVE_LIABILITIES_WARRANT

DERIVATIVE LIABILITIES - WARRANTS	12 Months Ended
	Mar. 31, 2015
Derivative Liabilities Warrants Disclosure [Abstract]
Derivative Liabilities Warrants Disclosure [Text Block]		NOTE 14   -	DERIVATIVE LIABILITIES - WARRANTS
	To date, the Company has authorized the issuance of Common Stock Purchase Warrants, with terms of five to seven years, to various corporations and individuals, in connection with the sale of securities, loan agreements and consulting agreements. Exercise prices on those warrants outstanding during Fiscal 2015 and Fiscal 2014 range from $0.0625 to $0.25 per warrant. The warrants expire at various times through April 25, 2018.
	A summary of warrant activity for the fiscal years indicated below is as follows:
			Fiscal Year 2015					Fiscal Year 2014
			Warrant		Weighted			Warrant		Weighted
			Shares		Average			Shares		Average
					Exercise					Exercise
					Price					Price
	Balance at beginning of year			102,143,091	$	0.06			139,344,939	$	0.08
	Warrant exercises, forfeited or expired			12,273,057	$	0.07			37,201,848	$	0.09
	Ending Balance			89,870,034	$	0.06			102,143,091	$	0.06
	Accounting Standard Codification “ASC” 815 – Derivatives and Hedging, which provides guidance on determining what types of instruments or embedded features in an instrument issued by a reporting entity can be considered indexed to its own stock for the purpose of evaluating the first criteria of the scope exception in the pronouncement on accounting for derivatives. These requirements can affect the accounting for warrants and convertible preferred instruments issued by the Company. As the conversion features within, and the detachable warrants, if any, issued with the Company’s Series E and Series I Preferred Stock, do not have fixed settlement provisions because their conversion and exercise prices may be lowered if the Company issues securities at lower prices in the future, we have concluded that the instruments are not indexed to the Company’s stock and are to be treated as derivative liabilities.
	The Warrant Derivative Liabilities are measured at fair market value, using the market approach and a level 3 fair value hierarchy, on a recurring basis as of March 31, 2015 and March 31, 2014, in accordance with the valuation techniques discussed in ASC 820.
	The portion of derivative liabilities related to outstanding warrants was valued using the Black-Scholes option valuation model, a level 3 fair value hierarchy using the following assumptions:
			March 31			March 31
			2015			2014
	Risk-Free interest rate			0.05% - 0.89%			.05% - 1.32%
	Expected volatility			93% - 113%			111% - 207%
	Expected life (in years)			1.2 – 3.1			0.3 – 4.1
	Expected dividend yield			0%			0%
	Number of warrants			89,870,034			102,143,091
	Fair value – Warrant Derivative Liability		$	17,762,573		$	38,103,446
	Change in warrant derivative liability for the twelve months ended		$	-18,447,573		$	32,997,869
	The risk free interest rate was based on rates established by the US Treasury Department. The expected volatility was based on the historical volatility of the Company’s share price for periods equal to the expected life of the outstanding warrants at each valuation date. The expected dividend rate was based on the fact that the Company has not historically paid dividends on common stock and does not expect to pay dividends on common stock in the future.
	The changes of $(18,447,573) and $32,997,869 in value of the warrant derivative liability occurring during the years ended March 31, 2015 and 2014, respectively, are included in the amounts reported in the “Other Income/(Expense)” section of the statement of operations. Increases in value are reported as other expenses and decreases in value are reported as other income.
	The following table summarizes, as of March 31, 2014, the warrant activity subject to Level 3 inputs which are measured on a recurring basis:
	Fair value measurements of warrants using significant unobservable inputs (Level 3)
			Fiscal 2015		Fiscal 2014
	Balance at Beginning of Fiscal Year		$	38,103,446	$	7,862,848
	Warrants Exercised			1,893,300		-2,757,271
	Change in fair value of warrant liability			-18,447,573		32,997,869
	Balance at End of Fiscal Year		$	17,762,573	$	38,103,446

COMMON_STOCK

COMMON STOCK	12 Months Ended
	Mar. 31, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]		NOTE 15   -	COMMON STOCK
	Lincoln Park Capital
	Pursuant to an April 19, 2013 purchase agreement with Lincoln Park Capital Fund, LLC (“Lincoln Park”) we had the right to sell to and Lincoln Park was obligated to purchase up to $10 million in shares of the Company’s Common Stock, subject to certain limitations, from time to time, over the 36 month period commencing on May 9, 2013. We raised the entire $10 million from the sale of shares to Lincoln Park pursuant to that agreement. That agreement terminated in March 2014 with the sale of all shares covered by that agreement.
	On April 10, 2014, we entered into another Purchase Agreement and a Registration Rights Agreement with Lincoln Park. Pursuant to the terms of the Purchase Agreement, Lincoln Park has agreed to purchase from us up to $40 million of our common stock (subject to certain limitations) from time to time over a 36-month period. Pursuant to the terms of the Registration Rights Agreement, we have filed with the SEC a registration statement to register for resale under the Securities Act the shares that have been or may be issued to Lincoln Park under the Purchase Agreement. That registration statement was declared effective by the SEC on May 1, 2014 A post-effective amendment to that Registration Statement was subsequently filed with the SEC and declared effective on July 1, 2014.
	Upon execution of the Purchase Agreement, we have issued 1,928,641 shares of our common stock to Lincoln Park pursuant to the Purchase Agreement as consideration for its commitment to purchase additional shares of our common stock under that agreement and we are obligated to issue up to an additional 1,928,641 commitment shares to Lincoln Park pro rata as up to $40 million of our common stock is purchased by Lincoln Park. Through June 8, 2015, we have sold to Lincoln Park an aggregate of 55,153,207 shares under the Purchase Agreement for aggregate gross proceeds of approximately $15.0 million. In addition, we have issued an additional 2,649,494 Commitment Shares.
	We may, from time to time and at our sole discretion but no more frequently than every other business day, direct Lincoln Park to purchase (a “Regular Purchase”) up to 500,000 shares of our common stock on any such business day, increasing up to 800,000 shares, depending upon the closing sale price of the common stock, provided that in no event shall Lincoln Park purchase more than $760,000 worth of our common stock on any single business day. The purchase price of shares of Common Stock related to the future Regular Purchase funding will be based on the prevailing market prices of such shares at the time of sales (or over a period of up to 10 business days leading up to such time), but in no event will shares be sold to Lincoln Park on a day the Common Stock closing price is less than the floor price of $0.10 per share, subject to adjustment.
	In addition to Regular Purchases, on any business day on which we have properly submitted a Regular Purchase notice and the closing sale price is not below $0.15, we may purchase (an “Accelerated Purchase”) an additional “accelerated amount” under certain circumstances. The amount of any Accelerated Purchase cannot exceed the lesser of three times the number of purchase shares purchased pursuant to the corresponding Regular Purchase; and 30% of the aggregate shares of our common stock traded during normal trading hours on the purchase date. The purchase price per share for each such Accelerated Purchase will be equal to the lower of (i) 97% of the volume weighted average price during the purchase date; or (ii) the closing sale price of our common stock on the purchase date.
	In the case of both Regular Purchases and Accelerated Purchases, the purchase price per share will be equitably adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction occurring during the business days used to compute the purchase price.
	Other than as set forth above, there are no trading volume requirements or restrictions under the Purchase Agreement, and we will control the timing and amount of any sales of our common stock to Lincoln Park.
	Our sales of shares of Common Stock to Lincoln Park under the Lincoln Park Purchase Agreement are limited to no more than the number of shares that would result in the beneficial ownership by Lincoln Park and its affiliates, at any single point in time, of more than 9.99% of the then outstanding shares of Common Stock.
	The Lincoln Park Purchase Agreement and the Lincoln Park Registration Rights Agreement contain customary representations, warranties, agreements and conditions to completing future sale transactions, indemnification rights and obligations of the parties. The Company has the right to terminate the Lincoln Park Purchase Agreement at any time, at no cost or penalty. Actual sales of shares of Common Stock to Lincoln Park under the Lincoln Park Purchase Agreement will depend on a variety of factors to be determined by the Company from time to time, including, without limitation, market conditions, the trading price of the Common Stock and determinations by the Company as to appropriate sources of funding for the Company and its operations. There are no trading volume requirements or restrictions under the Lincoln Park Purchase Agreement. Lincoln Park has no right to require any sales by the Company, but is obligated to make purchases from the Company as it directs in accordance with the Lincoln Park Purchase Agreement. Lincoln Park has covenanted not to cause or engage in any manner whatsoever, any direct or indirect short selling or hedging of our shares.
	The net proceeds under the Purchase Agreement to the Company will depend on the frequency and prices at which the Company sells shares of its stock to Lincoln Park. The Company expects that any proceeds received by the Company from such sales to Lincoln Park under the Lincoln Park Purchase Agreement will be used for general corporate purposes and working capital requirements.
	Summary of Common Stock Activity
	During Fiscal Years 2015 and 2014, the Company issued a total of 70,918,271 shares and 185,748,471 shares of Common Stock, respectively, with such issuances of Common Stock being summarized as follows:
	Description		Fiscal Year		Fiscal Year
			2015		2014
	Common shares sold pursuant to the Lincoln Park Capital Purchase Agreements, with net proceeds of such shares totaling $13,236,624 and $10,000,000 in Fiscal 2015 and Fiscal 2014, respectively.			47,172,240		65,143,216
	Common shares issued as commitment shares pursuant to the Lincoln Park Capital Purchase Agreements			2,566,861		5,858,230
	Common Shares issued in lieu of cash payment in payment of preferred share derivative interest expenses totaling zero and $68,089 for Fiscal 2015 and Fiscal 2014, respectively			—		878,543
	Common Shares issued pursuant to the conversion of Series B, Series C, Series E and Series I Convertible Preferred Share derivatives, with such derivative liabilities totaling $2,272,500 and $9,825,066, for Fiscal 2015 and Fiscal 2014, respectively, at the time of their conversion.			6,060,000		91,796,043
	Common Shares issued in payment of Director’s fees totaling $110,000 and $110,000 for Fiscal 2015 and Fiscal 2014, respectively			321,611		1,210,583
	Common shares issued in payment of employee salaries totaling $849,737 and $368,233 for Fiscal 2015 and Fiscal 2014, respectively.			2,518,668		3,439,467
	Common shares issued in payment of consulting expenses totaling $23,999 and $18,836 for Fiscal 2015 and Fiscal 2014, respectively			70,169		210,018
	Common shares issued pursuant to warrants exercised			11,985,388		16,904,038
	Common shares issued pursuant to options exercised			223,334		308,333
	Total Common Shares issued during Fiscal 2015 and 2014			70,918,271		185,748,471
	Common Shares issued at March 31,			631,160,701		560,242,430

PER_SHARE_INFORMATION

PER SHARE INFORMATION	12 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]		NOTE 16   -	PER SHARE INFORMATION
	Basic earnings per share of common stock (“Basic EPS”) is computed by dividing the net income(loss) by the weighted-average number of shares of common stock outstanding. Diluted earnings per share of common stock (“Diluted EPS”) is computed by dividing the net income(loss) by the weighted-average number of shares of common stock and dilutive common stock equivalents and convertible securities then outstanding. GAAP requires the presentation of both Basic EPS and Diluted EPS, if such Diluted EPS is not anti-dilutive, on the face of the Company’s Consolidated Statements of Operations. As the Company had a net loss for Fiscal Year 2014, Diluted EPS is not presented as the effect of the Company’s common stock equivalents and convertible securities is anti-dilutive.
	Basic EPS is calculated as follows:
			Fiscal Year		Fiscal Year
			2015		2014
	Numerator
	Net Income (Loss) attributable to common shareholders		$	28,932,671	$	-96,575,271
	Denominator
	Weighted average shares of common stock outstanding			591,214,959		463,021,991
	Net Earnings (Loss) per Share – Basic		$	0.05	$	-0.21
	Potentially dilutive securities excluded from the calculation of diluted loss per share for Fiscal 2014
	Stock Options		174,359
	Convertible Preferred Stock		148,917,143
	Warrants		15,782,718
	Diluted Earnings (Loss) per share (for Fiscal 2015) is calculated as follows:
			Fiscal Year
			2015
	Numerator
	Net Income attributable to common shareholders		$	28,932,671
	Adjustments to Net Income
	Reversal of Change in Value of Warrant Derivatives			-18,447,573
	Reversal of Change in Value of Preferred Share Derivatives			-25,602,370
	Net loss attributable to common shareholders on a diluted basis		$	-15,117,272
	Denominator
	Weighted average shares of common stock outstanding			591,214,959
	Dilutive effects of convertible preferred stock, warrants and options
	Convertible preferred Stock			142,857,143
	Warrants			22,926,029
	Stock Options			581,020
	Weighted average shares outstanding – diluted			757,579,152
	Fully Diluted Earnings (Loss) per Share		$	-0.02

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Shareholders' Equity and Share-based Payments [Text Block]		NOTE 17   -	STOCK-BASED COMPENSATION
	Part or all of the compensation paid by the Company to its Directors and employees consists of the issuance of Common Stock or via the granting of options to purchase Common Stock
	Stock-based Director Compensation
	The Company’s Director compensation policy instituted in October 2009 includes provisions that Director’s fees are to be paid via the issuance of shares of the Company’s Common Stock, in lieu of cash, with the valuation of such shares being calculated on a quarterly basis and equal to the average closing price of the Company’s common stock for the quarter just ended.
	During Fiscal 2015, the Company issued 321,611 shares of Common Stock to its Directors in payment of Director’s fees in the aggregate amount of $110,000 and related to the calendar year ending on December 31, 2014. Please note that the shares issued during Fiscal 2015, include those shares owed and not yet issued at the end of Fiscal Year 2014.
	During Fiscal 2014, the Company issued 1,210,583 shares of Common Stock to its Directors in payment of Director’s fees in the aggregate amount of $110,000 and related to the calendar year ending on December 31, 2013. Please note that the shares issued during Fiscal 2014, include those shares owed and not yet issued at the end of Fiscal Year 2013.
	As of March 31, 2015, the Company owes its Directors a total of 115,038 shares of Common Stock in payment of Directors Fees totaling $27,500 for the three months ended March 31, 2015. The Company anticipates that these shares of Common Stock will be issued during the fiscal year ended March 31, 2016.
	Stock-based Employee Compensation
	Employment contracts with the Company’s President and Chief Executive Officer, Chief Financial Officer and certain other employees includes provisions for a portion of each employees salaries to be paid via the issuance of shares of the Company’s Common, in lieu of cash, with the valuation of such shares being calculated on a quarterly basis and equal to the average closing price of the Company’s common stock for the quarter just ended.
	During Fiscal Year 2015, the Company issued a total of 2,518,668 shares of Common Stock to its President and Chief Executive Officer, Chief Financial Officer and certain other employees in payment of salaries in the aggregate amount of $849,737 and related to the calendar year ended December 31, 2014. Please note that the shares issued during Fiscal 2015, include those shares owed and not yet issued at the end of Fiscal 2014.
	During Fiscal Year 2014, the Company issued a total of 3,439,467 shares of Common Stock to its President and Chief Executive Officer, Chief Financial Officer and certain other employees in payment of salaries in the aggregate amount of $368,233 and related to the period calendar year ended December 31, 2013. Please note that the shares issued during Fiscal 2014, include those shares owed and not yet issued at the end of Fiscal 2013.
	As of March 31, 2015, the Company owes its President and Chief Executive Officer, Chief Financial Officer and certain other employees a total of 1,089,991 shares of Common Stock in payment of salaries totaling $259,750 for the three months ended March 31, 2015, with such amount being recorded in accrued expenses. The Company anticipates that these shares of Common Stock will be issued during the fiscal year ended March 31, 2016.
	Stock option based Employee Compensation
	During Fiscal 2015, the Company issued, to various employees, options to purchase a total of 2,590,000 shares Common Stock, in aggregate (the “2015 Options”). The 2015 Options have exercise prices equal to the closing price of the Company’s common stock on the grant date of each such option, such prices ranging from $0.26 per share to $0.46 per share. The 2015 Options vest in equal increments over a three year period which commences one year from the date of grant. The 2015 Options expire ten years from the date of grant. The fair value of the 2015 Options was $769,400, computed using the Black-Scholes options pricing model on the grant date. Such fair value is being amortized by the Company, on a straight line basis, over the vesting period and recorded on the Company’s Statement of Income as “Non-cash compensation through the issuance of stock options”.
	During Fiscal 2014, the Company issued, to various employees, options to purchase a total of 3,000,000 shares Common Stock, in aggregate (the “2014 Options”). The 2014 Options have exercise prices equal to the closing price of the Company’s common stock on the grant date of each such option, such prices being $0.07 per share. The 2014 Options vest in equal increments over a three year period which commences one year from the date of grant. The 2014 Options expire ten years from the date of grant. The fair value of the 2015 Options was $202,497, computed using the Black-Scholes options pricing model on the grant date. Such fair value is being amortized by the Company, on a straight line basis, over the vesting period and recorded on the Company’s Statement of Income as “Non-cash compensation through the issuance of stock options”.
	Stock option based employee compensation is summarized as follows:
			Fiscal Year	Fiscal Year
			2015	2014
	Non-cash compensation through issuance of stock options		260,045	82,947

STOCK_OPTION_PLANS

STOCK OPTION PLANS	12 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]		NOTE 18   -	STOCK OPTION PLANS
	Under its 2014 Stock Option Plan and prior options plans, the Company may grant stock options to officers, selected employees, as well as members of the Board of Directors and advisory board members. All options have generally been granted at a price equal to or greater than the fair market value of the Company’s Common Stock at the date of the grant. Generally, options are granted with a vesting period of up to three years and expire ten years from the date of grant.
	Transactions under the plans for the years indicated were as follows:
			Fiscal Year 2015				Fiscal Year 2014
			Options	Weighted			Options	Weighted
				Average				Average
				Exercise				Exercise
				Price				Price
	Outstanding at beginning of year		5,435,667	$	0.54		3,939,000	$	1.18
	Options Granted		2,590,000	$	0.31		3,000,000	$	0.07
	Options Exercised		223,334	$	0.12		308,333	$	0.08
	Options Expired/Forfeited		160,166	$	0.18		1,195,000	$	1.6
	Outstanding at end of year		7,642,167	$	0.48		5,435,667	$	0.54
	The following table summarizes information about stock options outstanding at March 31, 2015:
	Range		Options	Weighted		Weighted		Options		Weighted
			Outstanding	Average		Average		Exercisable		Average
				Remaining		Exercise				Exercise
				Contractual		Price				Price
				Life
				(Years)
	$ 0.01 – 1.00		6,419,167	8.5		$	0.17	1,674,167		$	0.09
	1.01 – 2.00		96,000	2.8		$	1.08	96,000		$	1.08
	2.01 – 3.00		1,127,000	1.7		$	2.18	1,127,000		$	2.18
	$ 0.01 – 3.00		7,642,167	7.4		$	0.48	2,897,167		$	0.93
	As of March 31, 2015, there were 6,029,227 options available for future grant under our Stock Option Plans.

INCOME_TAXES

INCOME TAXES	12 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE 19   -	INCOME TAXES
	The components of the credit for income taxes are as follows:
			Year Ended March 31,
			2015		2014
	Federal:
	Current		$	—	$	—
	Deferred			—		—
	State
	Current			-3,248	$	-3,099
	Deferred			—		—
	Sale of New Jersey Net Operating Losses			—		295,710
	Net Credit for Income Taxes		$	3,248	$	292,611
	The Major components of deferred tax assets and liabilities at March 31, 2015 and 2014 are as follows (amounts in thousands of dollars):
			March 31,
			2015		2014
	Federal
	Net Operating Loss Carry forward		$	24,547	$	19,813
	Valuation Allowance			-24,547		-19,813
			$	—	$	—
	State
	Net Operating Loss Carryforwards		$	2,602	$	1,318
	Valuation Allowance			-2,602		-1,318
			$	—	$	—
	At March 31, 2015 and 2014, a 100% valuation allowance is provided, as it is uncertain if the deferred tax assets will provide any future benefits because of the uncertainty about the Company’s ability to generate the future taxable income necessary to use the net operating loss carryforwards.

CONCENTRATIONS

CONCENTRATIONS	12 Months Ended
	Mar. 31, 2015
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure [Text Block]		NOTE 20   -	CONCENTRATIONS
	Revenue Concentrations
	Seven customers accounted for substantially all of the Company’s revenues for Fiscal 2015. Included in these customers are three customers that accounted for approximately 96 percent of revenues for Fiscal 2015.
	Ten customers accounted for substantially all of the Company’s revenues for Fiscal 2014. Included in these customers are three customers that accounted for approximately 88 percent of revenues for Fiscal 2014.
	Accounts Receivable Concentrations
	Five customers accounted for substantially all of the Company’s accounts receivable as of March 31, 2015. Included in these customers are three customers that accounted for approximately 89% of accounts receivable as of March 31, 2015.
	Five customers accounted for substantially all of the Company’s accounts receivable as of March 31, 2014. Included in these customers are three customers that accounted for approximately 83% of accounts receivable as of March 31, 2014.
	Purchasing Concentrations
	Five suppliers accounted for more than 80% of the Company’s purchases of raw materials for Fiscal 2015. Included in these seven suppliers are three suppliers that accounted for approximately 68% of raw material purchases for Fiscal 2015.
	Seven suppliers accounted for more than 80% of the Company’s purchases of raw materials for Fiscal 2014. Included in these seven suppliers are two suppliers that accounted for approximately 52% of raw material purchases for Fiscal 2014.

RELATED_PARTY_TRANSACTION_STRA

RELATED PARTY TRANSACTION - STRATEGIC ALLIANCE WITH EPIC PHARMA LLC and EPIC INVESTMENTS LLC	12 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transaction Strategic Alliance Disclosure [Text Block]	NOTE 21   -	RELATED PARTY TRANSACTION–STRATEGIC ALLIANCE WITH EPIC PHARMA LLC and EPIC INVESTMENTS LLC
	On March 18, 2009, the Company entered into the Epic Strategic Alliance Agreement with Epic Pharma, LLC and Epic Investments, LLC, a subsidiary controlled by Epic Pharma LLC, as disclosed in this Annual Report Form 10-K under Item 7 of Part II of this Annual Report on Form 10-K, under the heading “Epic Strategic Alliance Agreement,” Item 9B and Item 10, under the heading “Directors and Executive Officers,” and in our Current Reports on Form 8-K, filed with the SEC on March 23, 2009, May 6, 2009 and June 5, 2009, which disclosures are incorporated herein by reference. Ashok G. Nigalaye, Jeenarine Narine and Ram Potti, each were elected as members of our Board of Directors, effective June 24, 2009, as the three directors that Epic is entitled to designate for appointment to the Board pursuant to the terms of the Epic Strategic Alliance Agreement. Mr. Potti resigned from his position as Director of the Company on December 31, 2012. Messrs. Nigalaye, Narine and Potti are also officers of Epic Pharma, LLC, in the following capacities:
		·	Mr. Nigalaye, Chairman and Chief Executive Officer of Epic Pharma, LLC;
		·	Mr. Narine, President and Chief Operating Officer of Epic Pharma, LLC;
		·	Mr. Potti, Vice President of Epic Pharma, LLC.
	As part of the operation of the strategic alliance, the Company and Epic identified areas of synergy, including, without limitation, raw materials used by both entities, equipment purchases, contract manufacturing/packaging and various regulatory and operational resources existing at Epic that could be utilized by the Company.
	With regards to synergies related to raw materials usage, the strategic alliance allowed the Company to purchase such raw materials from Epic, at the Epic acquisition cost, without markup. In all cases, the acquisition cost of Epic was lower than those costs available to the Company, mainly as a result of efficiencies of scale generated by significantly larger volumes purchased by Epic during the course of their normal operations. During Fiscal 2015 and Fiscal 2014, an aggregate amount of zero and $9,009, respectively, in such materials was purchased from Epic Pharma LLC. All purchases were at Epic Pharma’s acquisition cost, without markup and evidenced by supporting documents of Epic Pharma LLC’s acquisition cost.
	With regards to synergies related to regulatory and operational resources, the strategic alliance allowed the Company to utilize Epic’s substantial resources and technical competencies on an “as needed” basis at a cost equal to Epic’s actual cost for only the resources utilized by the Company. Without such access to Epic’s resources, the Company would have to invest significant amounts in human resources and fixed assets as well as incur substantial costs with third party providers to provide the same resources provided by Epic and necessary for the operations of the Company.
	During Fiscal 2015, an aggregate amount of $7,937 was paid to Epic as reimbursement for costs associated with facility maintenance, engineering and regulatory resources utilized by the Company. During Fiscal 2014, an aggregate amount of $30,835 was paid to Epic as reimbursement for costs associated with facility maintenance, engineering and regulatory resources utilized by the Company.
	During Fiscal 2014, the Company did not incur contract manufacturing and/or packaging costs from Epic Pharma. During Fiscal 2014, the Company incurred a total of $29,668 in contract manufacturing and/or packaging costs to Epic Pharma for the Company’s Phentermine, Hydromorphone, Methadone and Immediate Release Lodrane products.
	Total purchases from Epic by the Company during the fiscal years ended March 31, 2015 and 2014 were $7,937 and $69,512, respectively.
	The Epic Strategic Alliance Agreement expired on June 4, 2012.

RELATED_PARTY_TRANSACTION_MANU

RELATED PARTY TRANSACTION - MANUFACTURING and LICENSE AGREEMENT WITH EPIC PHARMA LLC	12 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transaction, Manufacturing And License Agreement Disclosure [Text Block]		NOTE 22   -	RELATED PARTY TRANSACTION–MANUFACTURING and LICENSE AGREEMENT WITH EPIC PHARMA LLC
	On October 2, 2013, Elite executed the Epic Pharma Manufacturing and License Agreement. This agreement granted Epic Pharma certain rights to manufacture, market and sell in the United States and Puerto Rico the 12 approved ANDAs acquired by Elite pursuant to the Mikah Purchase Agreement. Of the 12 approved ANDAs, Epic Pharma will have the exclusive right to market six products as listed in Schedule A of the Epic Pharma Manufacturing and License Agreement, and a non-exclusive right to market six products as listed in Schedule D of the Epic Pharma Manufacturing and License Agreement. Epic Pharma is responsible for all regulatory and pharmacovigilance matters related to the products and for all costs related to the site transfer for all products. Pursuant to the Epic Pharma Manufacturing and License Agreement, Elite will receive a license fee and milestone payments. The license fee will be computed as a percentage of the gross profit, as defined in the Epic Pharma Manufacturing and License Agreement, earned by Epic Pharma a result of sales of the products. The manufacturing cost used for the calculation of the license fee is a predetermined amount per unit plus the cost of the drug substance (API) and the sales cost for the calculation is predetermined based on net sales. If Elite manufactures any product for sale by Epic Pharma, then Epic Pharma shall pay to Elite that same predetermined manufacturing cost per unit plus the cost of the API. The license fee is payable monthly for the term of the Epic Pharma Manufacturing and License Agreement. Epic Pharma shall pay to Elite certain milestone payments as defined by the Epic Pharma Manufacturing and License Agreement. To date, milestones totaling $1,000,000 have been earned and received in relation to the signing of the Epic Pharma Manufacturing and License Agreement and the filing and approval by the FDA of supplements relating to the transfer of manufacturing site for Isradipine 2.5mg and Isradipine 5mg. The term of the Epic Pharma Manufacturing and License Agreement is five years and may be extended for an additional five years upon mutual agreement of the parties. Twelve months following the launch of a product covered by the Epic Pharma Manufacturing and License Agreement, Elite may terminate the marketing rights for any product if the license fee paid by Epic Pharma falls below a designated amount for a six month period of that product. Elite may also terminate the exclusive marketing rights if Epic Pharma is unable to meet the annual unit volume forecast for a designated product group for any year, subject to the ability of Epic Pharma, during the succeeding six month period, to achieve at least one-half of the prior year’s minimum annual unit forecast. The Epic Pharma Manufacturing and License Agreement may be terminated by mutual agreement of Elite and Epic Pharma, as a result of a breach by either party that is not cured within 60 days notice of the breach, or by Elite as a result of Epic Pharma becoming a party to a bankruptcy, reorganization or other insolvency proceeding that continues for a period of 30 days or more.

TRANSACTIONS_WITH_RELATED_PART

TRANSACTIONS WITH RELATED PARTIES - NASRAT HAKIM AND MIKAH PHARMA LLC	12 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]		NOTE 23   -	TRANSACTIONS WITH RELATED PARTIES – NASRAT HAKIM AND MIKAH PHARMA LLC
	On August 1, 2013, Elite Laboratories Inc. (“Elite Labs”), our wholly owned subsidiary, executed an asset purchase agreement (the “Mikah Purchase Agreement”) with Mikah Pharma LLC (“Mikah”), an entity that is wholly owned by Mr. Nasrat Hakim, who, in conjunction with this transaction, was appointed as our Chief Executive Officer, President and a Director on August 2, 2012, and acquired from Mikah a total of 13 Abbreviated New Drug Applications (“ANDAs”) consisting of 12 ANDAs approved by the FDA and one ANDA under active review with the FDA, and all amendments thereto (the “Acquisition”) for aggregate consideration of $10,000,000, inclusive of imputed interest payable pursuant to a non-interest bearing, secured convertible note due in August 2016 (the “Mikah Note”). The Mikah Note was amended on February 7, 2014 to make it convertible into shares of the Company’s Series I Convertible Preferred Stock.
	The Mikah Note, as amended, was interest free and due and payable on the third anniversary of its issuance. Subject to certain limitations, the principal amount of the Mikah Note was convertible at the option of Mikah into shares of Common Stock at a rate of $0.07 (approximately 14,286 shares per $1,000 in principal amount), the closing market price of the Company’s Common Stock on the date that the asset purchase agreement and Note were executed and/or into shares of the Company’s Series I Convertible Preferred Stock at the rate of 1 share of Series I Preferred Stock for each $100,000 of principal owed on the Mikah Note. The conversion rate was adjustable for customary corporate actions such as stock splits and, subject to certain exclusions, includes weighted average anti-dilution for common stock transactions at prices below the then applicable conversion rate. Pursuant to a security agreement (the “Security Agreement”), repayment of the Mikah Note was secured by the ANDAs acquired in the Acquisition.
	On February 7, 2014, Mikah converted the principal amount of $10,000,000, representing the entire principal balance due under the Mikah Note, into 100 shares of the Company’s Series I Preferred Stock.
	On August 27, 2010, Elite executed an asset purchase with Mikah (the “Naltrexone Agreement”). Pursuant to the Naltrexone Agreement, Elite acquired from Mikah the Abbreviated New Drug Application number 75-274 (Naltrexone Hydrochloride Tablets USP, 50 mg), and all amendments thereto (the “ANDA”), that have to date been filed with the FDA seeking authorization and approval to manufacture, package, ship and sell the products described in the ANDA within the United States and its territories (including Puerto Rico) for aggregate consideration of $200,000. In lieu of cash, Mikah agreed to accept from Elite product development services to be performed by Elite, and entered into a Development and License Agreement dated August 27, 2010 between the Company and Mikah (the “Mikah Development Agreement”).
	The manufacturing of Naltrexone 50mg was successfully transferred to the Company’s Northvale facility, and the first commercial shipment of this product was made in September 2013.
	On January 28, 2015, the Mikah Development Agreement was terminated by mutual agreement of the parties thereto. Pursuant to the Mikah Development Agreement, Mikah made advance consideration payments to the Company totaling $200,000 in exchange for product development services to be provided at a future date. Subsequent to the execution of the Mikah Development Agreement, and before any development milestones were achieved, the sole owner of Mikah, Mr. Nasrat Hakim, became the President and Chief Executive Officer of the Company. Mikah has accordingly ceased operating and is in the process of winding down and liquidating its assets.
	Any further development of the product related to the Mikah Development Agreement will belong to the Company, although there can be no assurances that such development will occur or be successful.
	The Mikah Development Agreement requires that the consideration paid in advance to the Company be refunded in the event of no milestones being achieved. Mr. Hakim, as owner of Mikah, has directed that the $200,000 refund due to Mikah not be paid currently, but rather be added to the amounts due under the Hakim Credit Line.
	During Fiscal 2014, the Company purchased from Mikah Pharma, active pharmaceutical ingredients used by the Company in its current commercial manufacturing operations, at Mikah’s cost, without markup. Such purchases totaled $75,600, with the funds being provided by Nasrat Hakim and included as draws against the Hakim Credit Line.
	During Fiscal 2014, the Company purchased from Mikah Pharma, manufacturing equipment used by the Company in its current commercial manufacturing operations and product development activities at Mikah’s cost, without markup. Such equipment purchases totaled $110,00, with the funds being provided by Nasrat Hakim and included as draws against the Hakim Credit Line.

CONVERSIONS_OF_PREFERRED_STOCK

CONVERSIONS OF PREFERRED STOCK DERIVATIVES TO COMMON STOCK	12 Months Ended
	Mar. 31, 2015
Conversions Of Preferred Stock Derivatives To Common Stock Abstract [Abstract]
Conversions Of Preferred Stock Derivatives To Common Stock Disclosure [Text Block]	NOTE 24   -	CONVERSIONS OF PREFERRED STOCK DERIVATIVES TO COMMON STOCK
	The Certificate of Designations of the Series C 8% Convertible Preferred Stock of Elite Pharmaceuticals (the “Series C Preferred Derivatives”), the Series E Convertible Preferred Stock Derivatives (the “Series E Preferred Derivatives”), the Series G 8% Convertible Preferred Stock of Elite Pharmaceuticals (the “Series G Preferred Derivatives”), and the Series I Convertible Preferred Stock Derivatives (the “Series I Preferred Derivatives”, include provisions entitling the holders of these Preferred Derivatives to convert shares of the Preferred Derivatives into shares of Common Stock. The Preferred Derivatives are classified as a liability to the Company, and the liability represented by those shares of Preferred Derivatives being converted must be valued at the time of such conversion, with increases/(decreases) in the value of preferred share derivative liabilities being appropriately recorded and reflected in the Other Income section of the Company’s Statement of Operations. The amount of equity recorded as a result of the conversion of Preferred Derivatives is equal to the value of such Preferred Derivatives being converted, at the time of the conversion, with such amount also representing the decrease in the Preferred Share Derivative Liability on the Company’s Balance Sheet.
	Conversions of Preferred Derivatives during Fiscal 2015 and Fiscal 2014, are summarized as follows:
			Fiscal 2015	Fiscal 2014
	Series C Preferred Derivatives
	Number of Derivative Shares Converted		—	24
	Number of Common Shares issued pursuant to conversion		—	167,106
	Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)		—	47,452
	Change in value of preferred share derivative liability recorded at time of conversion		—	27,489
	Par value of Common Shares issued		—	167
	Additional paid in capital recorded as a result of the conversions		—	47,375
	*	Please also note that during Fiscal 2014, a total of 1,351 shares of Series C Preferred Derivatives were exchanged for 1,351 shares of Series G Preferred Derivatives, with such Series G shares having the same value as the Series C shares being exchanged.
	Series E Preferred Derivatives
	Number of Derivative Shares Converted		—	1,800
	Number of Common Shares issued pursuant to conversion		—	74,074,074
	Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)		—	7,888,066
	Change in value of preferred share derivative liability recorded at time of conversion		—	2,652,675
	Par value of Common Shares issued		—	74,074
	Additional paid in capital recorded as a result of the conversions		—	7,813,991
	Series G Preferred Derivatives
	Number of Derivative Shares Converted		—	1,351
	Number of Common Shares issued pursuant to conversion		—	17,554,863
	Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)		—	1,889,458
	Change in value of preferred share derivative liability recorded at time of conversion		—	557,773
	Par value of Common Shares issued		—	17,555
	Additional paid in capital recorded as a result of the conversions		—	1,871,903
	Series I Preferred Derivatives
	Number of Derivative Shares Converted		4.242	—
	Number of Common Shares issued pursuant to conversion		6,060,000	—
	Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)		2,272,500	—
	Change in value of preferred share derivative liability recorded at time of conversion		-303,000	—
	Par value of Common Shares issued		6,060	—
	Additional paid in capital recorded as a result of the conversions		2,266,440	—
	Total Preferred Derivatives
	Number of Derivative Shares Converted		4.242	3,175
	Number of Common Shares issued pursuant to conversion		6,060,000	91,796,043
	Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)		2,272,500	9,825,066
	Change in value of preferred share derivative liability recorded at time of conversion		-303,000	3,237,937
	Par value of Common Shares issued		6,060	91,796
	Additional paid in capital recorded as a result of the conversions		2,266,440	9,733,270

CONTINGENCIES

CONTINGENCIES	12 Months Ended
	Mar. 31, 2015
Loss Contingency [Abstract]
Contingencies Disclosure [Text Block]		NOTE 25	CONTINGENCIES
	As part of the Company’s efforts to ensure the retention and continuity of key employees, officers and directors in the event of a change of control of the ownership of the Company, the Board of Directors passed a resolution whereby, in the event of a change in control of the ownership of the Company, key executives would receive an amount equal to twelve months of such executive’s salary, and certain Directors and managers would receive an amount equal to six months of such Director’s or managers fees or salaries, as applicable. In addition, the resolution passed provided for the immediate vesting of outstanding options, in the event of a change of control.

RIGHTS_PLAN

RIGHTS PLAN	12 Months Ended
	Mar. 31, 2015
Distribution Of Rights Issue [Abstract]
Rights Plan Disclosure [Text Block]		NOTE 26   -	RIGHTS PLAN
	On November 15, 2013, our board of directors declared a dividend distribution of one right for each outstanding share of our common stock and one right for each share of Common Stock into which any of our outstanding Preferred Stock is convertible, to stockholders of record at the close of business on that date. Each Right entitles the registered holder to purchase from us one “Unit” consisting of one one-millionth (1/1,000,000) of a share of Series H Junior Participating preferred stock, par value $0.01 per share (the “H Preferred Stock”), at a purchase price of $2.10 per Unit, subject to adjustment, and may be redeemed prior to November 15, 2023, the expiration date, at $0.000001 per Right, unless earlier redeemed by the Company. The Rights generally are not transferable apart from the common stock and will not be exercisable unless and until a person or group acquires or commences a tender or exchange offer to acquire, beneficial ownership of 15% or more of our common stock. However, for Mr. Hakim, our Chief Executive Officer, the Rights Plan's the 15% threshold excludes shares beneficially owned by him as of November 15, 2013 and all shares issuable to him pursuant to his employment agreement and the Mikah Note. The description and terms of the Rights are set forth in a Rights Agreement (“Rights Agreement”) between the Company and American Stock Transfer & Trust Company, LLC, as Rights Agent.

LEGAL_PROCEEDINGS

LEGAL PROCEEDINGS	12 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Legal Matters and Contingencies [Text Block]		NOTE 27   -	LEGAL PROCEEDINGS
	In the ordinary course of business, we may be subject to litigation from time to time. Except as discussed below, there is no current, pending or, to our knowledge, threatened litigation or administrative action to which we are a party or of which our property is the subject (including litigation or actions involving our officers, directors, affiliates, or other key personnel, or holders of record or beneficially of more than 5% of any class of our voting securities, or any associate of such party) which in our opinion has, or is expected to have, a material adverse effect upon our business, prospects, financial condition or operations.
	Arbitration with Precision Dose Inc.
	On May 9, 2014, Precision Dose Inc., the parent company of TAGI Pharmaceuticals Inc., commenced an arbitration proceeding against the Company alleging that the Company failed to properly supply, price and satisfy gross profit minimums regarding Phentermine 37.5mg tablets, as required by the parties’ agreements. Elite denies Precision Dose’s allegations and has counterclaimed that Precision Dose is no longer entitled to exclusivity rights with respect to Phentermine 37.5mg tablets, and is responsible for certain costs, expenses, price increases and lost profits relating to Phentermine 37.5mg tablets and the parties’ agreements. This arbitration proceeding is currently ongoing.
	Generally Accepted Accounting Principles require that a contingency loss may only be recognized if the event is (i) probable and (ii) the amount of the loss can be reasonably estimated. There were no liabilities meeting this criteria at March 31, 2015.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]		NOTE 28   -	SUBSEQUENT EVENTS
	The Company has evaluated subsequent events from the balance sheet date through June 30, 2015, the date the accompanying financial statements were issued. The following are material subsequent events:
	Sales and Distribution Licensing Agreement for Abuse-Deterrent ELI-200
	On June 4, 2015, Elite Pharmaceuticals Inc. and its wholly-owned subsidiary Elite Laboratories, Inc. (collectively, “Elite”) executed an exclusive License Agreement (the “Agreement”) with Epic Pharma LLC. (“Epic”), to market and sell in the United States, ELI-200, an undisclosed opioid with sequestered naltrexone capsules, owned by Elite. Epic will have the exclusive right to market ELI-200 and its various dosage forms as listed in Schedule A of the Agreement (the “Products”). Epic is responsible for all regulatory and pharmacovigilance matters related to the products. Pursuant to the Agreement, Elite will receive a license fee and milestone payments. The license fee will be computed as a percentage of net sales of the Products as defined in the Agreement by Epic. Elite will manufacture the product for sale by Epic on a cost plus basis and both parties agree to execute a separate Manufacturing and Supply Agreement. The license fee is payable quarterly for the term of the Agreement. Epic shall pay to Elite certain milestone payments as defined by the Agreement. The first milestone payment was due and was received upon signing the agreement. Subsequent milestone payments are due upon the filing of a New Drug Application (“NDA”) with the U.S. Food and Drug Administration (“FDA”) for the Products and upon receipt of the approval letter for the NDA from the FDA. The term of the License Agreement is five years and may be extended for an additional five years upon mutual agreement of the parties. Elite can terminate the Agreement on 90 days’ written notice in the Event that Epic does not pay to Elite certain minimum annual license fees over the initial five year term of the Agreement. Either party may terminate this Agreement upon a material breach and failure to cure that breach by the other party within a specified period.
	Launch of generic Hydroxyzine Tablets
	On April 21, 2015, the first shipment of generic Hydroxyzine 10mg, 25mg and 50mg tablets was made through Epic Pharma LLC, pursuant to the Epic Pharma Manufacturing and License Agreement. Hydroxyzine is indicated for symptomatic relief of anxiety and tension associated with certain disease states and management of pruritus due to certain allergic conditions. Manufacturing, packaging and distribution are being performed by Epic, under the Epic Pharma Manufacturing and License Agreement, with the Company earning royalties which are based on net sales achieved.
	Common Stock sold pursuant to the LPC-40 Purchase Agreement
	Subsequent to March 31, 2015 and up to June 8, 2015 (the latest practicable date), a total of 7,662,233 shares of Common Stock were sold and 79,020 additional commitment shares were issued, pursuant to the LPC-40 Purchase Agreement. Proceeds received from such transactions totaled $1,638,914.
	Common Stock issued pursuant to the exercise of cash warrants
	Subsequent to March 31, 2015 and up to June 8, 2015 (the latest practicable date), a total of 19,194,756 shares of Common Stock were issued pursuant to the exercise of cash warrants. Proceeds received from such warrant exercises totaled $1,199,672.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting, Policy [Policy Text Block]	BASIS OF PRESENTATION
	The accompanying audited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”)
Consolidation, Policy [Policy Text Block]	PRINCIPLES OF CONSOLIDATION
	The consolidated financial statements include the accounts of Elite Pharmaceuticals, Inc. and its wholly-owned subsidiary, Elite Laboratories, Inc. (“Elite Labs”, and collectively, the “Company”) for the years ended March 31, 2015 (“Fiscal 2015”) and 2014 (“Fiscal 2014”). As of March 31, 2015, the financial statements of its wholly-owned entity are consolidated and all significant intercompany accounts are eliminated upon consolidation.
Nature of Operations [Text Block]	NATURE OF BUSINESS
	Elite Pharmaceuticals, Inc. was incorporated on October 1, 1997 under the laws of the State of Delaware, and its wholly-owned subsidiary Elite Laboratories, Inc. was incorporated on August 23, 1990 under the laws of the State of Delaware. On January 5, 2012, Elite Pharmaceuticals was reincorporated under the laws of the State of Nevada. Elite Labs engages primarily in researching, developing and licensing proprietary controlled-release drug delivery systems and products. The Company is also equipped to manufacture controlled-release products on a contract basis for third parties and itself if and when the products are approved; however the Company has concentrated on developing orally administered controlled-release products. These products include drugs that cover therapeutic areas for pain, allergy and infection. The Company also engages in research and development activities for the purpose of obtaining Food and Drug Administration approval, and, thereafter, commercially exploiting generic and new controlled-release pharmaceutical products. The Company also engages in contract research and development on behalf of other pharmaceutical companies.
Cash and Cash Equivalents, Policy [Policy Text Block]	CASH
	The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents consist of cash on deposit with banks and money market instruments. The Company places its cash and cash equivalents with high-quality, U.S. financial institutions and, to date has not experienced losses on any of its balances.
Inventory, Policy [Policy Text Block]	INVENTORIES
	Inventories are stated at the lower of cost (first-in, first-out basis) or market (net realizable value).
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	LONG-LIVED ASSETS
	The Company periodically evaluates the fair value of long-lived assets, which include property and equipment and intangibles, whenever events or changes in circumstances indicate that its carrying amounts may not be recoverable. Such conditions may include an economic downturn or a change in the assessment of future operations. A charge for impairment is recognized whenever the carrying amount of a long-lived asset exceeds its fair value. Management has determined that no impairment of long-lived assets has occurred.
	Property and equipment are stated at cost. Depreciation is provided on the straight-line method based on the estimated useful lives of the respective assets which range from five to forty years. Major repairs or improvements are capitalized. Minor replacements and maintenance and repairs which do not improve or extend asset lives are expensed currently.
	Upon retirement or other disposition of assets, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is recognized in income.
	Costs incurred to acquire intangible assets such as for the application of patents and trademarks are capitalized and amortized on the straight-line method, based on their estimated useful lives ranging from five to twenty years, commencing upon approval of the patent and trademarks. Such costs are charged to expense if the patent or trademark is unsuccessful.
Research and Development Expense, Policy [Policy Text Block]	RESEARCH AND DEVELOPMENT
	Research and development expenditures are charged to expense as incurred.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	CONCENTRATION OF CREDIT RISK
	The Company maintains cash balances, which, at times, may exceed the amounts insured by the Federal Deposit Insurance Corp. Uninsured balances at March 31, 2015 are $7,464,180. Management does not believe that there is any significant risk of losses.
	The Company in the normal course of business extends credit to its customers based on contract terms and performs ongoing credit evaluations. An allowance for doubtful accounts due to uncertainty of collection is established based on historical collection experience. Amounts are written off when payment is not received after exhaustive collection efforts. During Fiscal 2015 and Fiscal 2014 the Company generated all its revenues from seven and ten companies, respectively. The termination of the contracts with either of such companies will result in the loss of a significant amount of revenues currently being earned.
Use of Estimates, Policy [Policy Text Block]	USE OF ESTIMATES
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made by management include, but are not limited to, the recognition of revenue, the amount of the allowance for doubtful accounts receivable and the fair value of intangible assets, stock-based awards and derivatives.
Income Tax, Policy [Policy Text Block]	INCOME TAXES
	The Company uses the liability method for reporting income taxes, under which current and deferred tax liabilities and assets are recorded in accordance with enacted tax laws and rates. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Under the liability method, the amounts of deferred tax liabilities and assets at the end of each period are determined using the tax rate expected to be in effect when taxes are actually paid or recovered. Further tax benefits are recognized when it is more likely than not, that such benefits will be realized. Valuation allowances are provided to reduce deferred tax assets to the amount considered likely to be realized.
	GAAP prescribes a recognition threshold and measurement attribute for how a company should recognize, measure, present, and disclose in its financial statements uncertain tax positions that the company has taken or expects to take on a tax return. GAAP requires that the financial statements reflect expected future tax consequences of such positions presuming the taxing authorities’ full knowledge of the position and all relevant facts, but without considering time values. No adjustments related to uncertain tax positions were recognized during Fiscal 2015 and Fiscal 2014.
	The Company recognizes interest and penalties related to uncertain tax positions as a reduction of the income tax benefit. No interest and penalties related to uncertain tax positions were accrued as of March 31, 2015 and March 31, 2014.
	The Company operates in multiple tax jurisdictions within the United States of America. Although we do not believe that we are currently under examination in any of our major tax jurisdictions, we remain subject to examination in all of our tax jurisdiction until the applicable statutes of limitation expire. As of March 31, 2015, a summary of the tax years that remain subject to examination in our major tax jurisdictions are: United States – Federal, 2010 and forward, and State, 2006 and forward. The Company did not record unrecognized tax positions for the years ended March 31, 2015 and 2015.
Earnings Per Share, Policy [Policy Text Block]	EARNINGS PER COMMON SHARE
	Basic earnings per common share is calculated by dividing net earnings by the weighted average number of shares outstanding during each period presented. Diluted earnings per share are calculated by dividing earnings by the weighted average number of shares and common stock equivalents. The Company’s common stock equivalents consist of options, warrants and convertible securities.
Revenue Recognition, Policy [Policy Text Block]	REVENUE RECOGNITION
	Revenues earned under manufacturing agreements with other pharmaceutical companies are recognized on the date of shipment of the product, when title for the goods is transferred, and for which the price is agreed to and it has been determined that collectability is reasonably assured.
	Revenues derived from royalties and profit splits are recognized when such are reasonably estimable and collectible. Revenues from royalties and profit splits which cannot be reasonably estimated are recognized when the payment is received.
	Revenues derived from providing research and development services under contracts with other pharmaceutical companies are recognized when earned. These contracts provide for non-refundable upfront and milestone payments. Because no discrete earnings event has occurred when the upfront payment is received, that amount is deferred until the achievement of a defined milestone. Each nonrefundable milestone payment is recognized as revenue when the performance criteria for that milestone have been met. Under each contract, the milestones are defined, substantive effort is required to achieve the milestone, the amount of the non-refundable milestone payment is reasonable, commensurate with the effort expended, and achievement of the milestone is reasonably assured.
	Revenues earned in relation to the licensing of certain pharmaceutical products developed by or ANDA’s owned by the Company are recognized pursuant to the terms and conditions of the applicable licensing agreements. Such licensing revenues include, without limitation, milestone fees, for which revenues are recognized when a milestone, as defined in a licensing agreement, is achieved, for which licensing revenues which are determined by in-market product sales, and for which revenues are recognized when earned as per the terms and conditions of the applicable licensing agreement.
Treasury Stock Policy [Policy Text Block]	TREASURY STOCK
	The Company records common shares purchased and held in treasury at cost.
Fair Value of Financial Instruments, Policy [Policy Text Block]	FAIR VALUE OF FINANCIAL INSTRUMENTS
	The carrying amounts of current assets and liabilities approximate fair value due to the short-term nature of these instruments. The carrying amounts of noncurrent assets are reasonable estimates of their fair values based on management’s evaluation of future cash flows. The long-term liabilities are carried at amounts that approximate fair value based on borrowing rates available to the Company for obligations with similar terms, degrees of risk and remaining maturities.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	STOCK-BASED COMPENSATION
	The Company accounts for all stock-based payments and awards under the fair value based method. Stock-based payments to non-employees are measured at the fair value of the consideration received, or the fair value of the equity instruments issued, or liabilities incurred, whichever is more reliably measurable. The fair value of stock-based payments to non-employees is periodically re-measured until the counterparty performance is complete, and any change therein is recognized over the vesting period of the award and in the same manner as if the Company had paid cash instead of paying with or using equity based instruments on an accelerated basis. The cost of the stock-based payments to nonemployees that are fully vested and non-forfeitable as at the grant date is measured and recognized at that date, unless there is a contractual term for services in which case such compensation would be amortized over the contractual term.
	The Company accounts for the granting of share purchase options to employees using the fair value method whereby all awards to employees will be recorded at fair value on the date of the grant. Share based awards granted to employees with a performance condition are measured based on the probable outcome of that performance condition during the requisite service period. Such an award with a performance condition is accrued if it is probable that a performance condition will be achieved. Compensation costs for stock-based payments to employees that do not include performance conditions are recognized on a straight-line basis. The fair value of all share purchase options is expensed over their vesting period with a corresponding increase to additional capital surplus. Upon exercise of share purchase options, the consideration paid by the option holder, together with the amount previously recognized in additional capital surplus, is recorded as an increase to share capital
	The Company uses the Black-Scholes option valuation model to calculate the fair value of share purchase options at the date of the grant. Option pricing models require the input of highly subjective assumptions, including the expected price volatility. Changes in these assumptions can materially affect the fair value estimate.
	The compensation expense recognized for the years ended March 31, 2015 and 2014 was $260,045 and $82,947, respectively.
Fair Value Measurement, Policy [Policy Text Block]	FAIR VALUE MEASUREMENTS
	The Company adopted Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures, for financial and non-financial assets and liabilities.
	ASC 820 discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The Company utilizes the market approach. The statement utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:
	Level 1:    Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.
	Level 2:    Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.
	Level 3:    Unobservable inputs that reflect the reporting entity’s own assumptions.
New Accounting Pronouncements, Policy [Policy Text Block]	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
	In May 2014, the Financial Accounting Standards Board issued amended accounting guidance on revenue recognition that will be applied to all contracts with customers. The objective of the new guidance is to improve comparability of revenue recognition practices across entities and to provide more useful information to users of financial statements through improved disclosure requirements. This guidance is effective for annual and interim periods beginning in 2017. Early adoption is not permitted. The Company is currently assessing the impact of adoption on its consolidated financial statements.

INVENTORIES_Tables

INVENTORIES (Tables)	12 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories are recorded at the lower of cost or market.  Inventories at March 31, 2015 and 2014 consist of the following:
		2015		2014
	Finished Goods	$	122,772	$	—
	Work-in-Process		58,770		409,146
	Raw Materials		2,850,459		1,523,341
		$	3,032,001	$	1,932,487

PROPERTY_AND_EQUIPMENT_Tables

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Mar. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property and equipment at March 31, 2015 and 2014 consists of the following:
		2015		2014
	Laboratory manufacturing, and warehouse equipment	$	7,593,017	$	5,952,084
	Office equipment and Software		209,551		95,309
	Furniture and fixtures		49,804		49,804
	Transportation equipment		66,855		66,855
	Land, building and improvements		4,556,692		3,543,927
			12,475,919		9,707,979
	Less: Accumulated depreciation		-6,074,117		-5,508,377
		$	6,401,802	$	4,199,602

INTANGIBLE_ASSETS_Tables

INTANGIBLE ASSETS (Tables)	12 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	As of March 31, 2015 and 2014, the following costs were recorded as intangible assets on the Company’s balance sheet:
		2015		2014
	Intangible assets at beginning of fiscal year
	Patent application costs	$	302,602	$	244,424
	ANDA acquisitions		6,047,317		450,000
	Less: Accumulated Amortization		—		—
	Net Intangible Assets at beginning of fiscal year	$	6,349,922	$	694,424
	Intangible asset costs capitalized during the fiscal year
	Patent application costs	$	31,855	$	58,178
	ANDA acquisition costs		—		5,597,317
	Total cost of intangible assets capitalized	$	31,853	$	5,655,495
	Intangible assets at end of fiscal year
	Patent application costs	$	334,457	$	302,602
	ANDA acquisition costs		6,047,317		6,047,317
	Less: Accumulated Amortization
	Net Intangible Assets	$	6,381,774	$	6,349,922

NJEDA_BONDS_Tables

NJEDA BONDS (Tables)	12 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Schedule Of Bond Issuance [Table Text Block]	On August 31, 2005, the Company successfully completed a refinancing of a prior 1999 bond issue through the issuance of new tax-exempt bonds (the “Bonds”) via the issuance of the following:
	Description	Principal		Interest			Maturity
		Amount		Rate
		On
		Issue Date
	Series A Note	$	3,660,000		6.5	%	1-Sep-30
	Series B Note		495,000		9	%	1-Sep-12
Bond Issue Costs And Amortization [Table Text Block]	Bond issue costs were paid from the bond proceeds and are being amortized over the life of the bonds. These costs and amortization activity are summarized as follows:
	Description	Balances		Amortization			Balances
		As of		Expense			As of
		31-Mar-14		Current YTD			31-Mar-15
	Bond Issue Costs	$	354,453				$	354,453
	Accumulated Amortization		-121,697		-14,177			-135,874
	Unamortized Balance	$	232,756				$	218,579
Schedule of Securities Financing Transactions [Table Text Block]	Bond financing consisting of the following, as of March 31,
		2015		2014
	Refinanced NJEDA Bonds	$	2,275,000	$	3,385,000
	Current portion		-210,000		(3,385,000
	Long term portion, net of current maturities	$	2,065,000	$	—
Schedule of Maturities of NJEDA Bonds [Table Text Block]	Maturities of Bonds for the next five years are as follows:
	YEAR ENDING MARCH 31,	AMOUNT
	2016	$	210,000
	2017		220,000
	2018		85,000
	2019		90,000
	2020		95,000
	Thereafter		1,575,000
		$	2,275,000

LOANS_PAYABLE_AND_LONG_TERM_DE1

LOANS PAYABLE AND LONG TERM DEBT (Tables)	12 Months Ended
	Mar. 31, 2015
Schedule Of Loans Payable And Long Term Debt [Table Text Block]	Loans payable and long term debt consisted of the following:
		March 31, 2015				March 31, 2014
		Current		Long-		Current		Long-
				Term				Term
	Equipment and Insurance financing loans payable	$	265,165	$	560,338	$	18,870	$	87,574
	Deferred Rent-135 Ludlow Ave Lease (see note 9)				42,524				18,821
	Lease termination costs – 135 Ludlow Ave lease (see note 9)		—		26,275		—		24,749
	TOTAL	$	265,165	$	629,137	$	18,870	$	131,144
Secured Debt [Member]
Schedule of Maturities of Long-term Debt [Table Text Block]	Loan principal payments for the next five years are as follows:
	YEAR ENDING MARCH 31,	AMOUNT
	2016	$	265,165
	2017		250,856
	2018		137,711
	2019		104,676
	2020		67,095
	Thereafter		—
		$	825,503

LEASES_OF_RENTAL_PROPERTIES_Ta

LEASES OF RENTAL PROPERTIES (Tables)	12 Months Ended
	Mar. 31, 2015
Leases, Operating [Abstract]
Operating Leases of Lessee Disclosure [Table Text Block]	The following leases for rental properties were operative during the year ended March 31, 2015:
			135 Ludlow Ave
			(see notes 10 and 11)
	Effective Date			1-Jul-10	(c)
	Termination Date			31-Dec-16
	Lease term			6 years with 2 tenant renewal options for 5 years each
	Rent expense for the 2015 Fiscal Year		$	153,430
	Rent expense for the 2014 Fiscal Year		$	33,820
	Minimum 5 Year Lease Payments(a)
	Fiscal year ended March 31, 2016(b)			203,850
	Fiscal year ended March 31, 2017(b)			155,169
	Fiscal year ended March 31, 2018(b)			—
	Fiscal year ended March 31, 2019(b)			—
	Fiscal year ended March 31, 2020(b)			—
			$	359,019
		(a)	Minimum lease payments are exclusive of additional expenses related to certain expenses incurred in the operation and maintenance of the premises, including, without limitation, real estate taxes and common area charges which may be due under the terms and conditions of the lease.
		(b)	Minimum lease payments calculated for the initial term of the lease only, with such initial term expiring on December 31, 2016.
		(c)	Inclusive of a modification of lease agreement dated July 29, 2014
Schedule of Rent Expense [Table Text Block]	Rent expense related to the operating lease at 135 Ludlow was recorded using the straight line method and summarized as follows:
	Summary of Rent Expense – 135 Ludlow Avenue
			Fiscal Year			Fiscal Year
			Ended			Ended
			31-Mar-15			31-Mar-14
	Rent Expense		$	153,430		$	33,820
	Actual lease payments			114,321			83,259
	Increase in deferred rent liability			39,109			7,079
	Adjustments to deferred rent liability			-15,409			-56,518
	Balance of deferred rent liability			42,524			18,824

DERIVATIVE_LIABILITIES_PREFERR1

DERIVATIVE LIABILITIES - PREFERRED SHARES (Tables)	12 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Liabilities at Fair Value [Table Text Block]	The Preferred Stock Derivative Liabilities are measured at fair market value, using the market approach and a level 1 fair value hierarchy, on a recurring basis as of March 31, 2015 and March 31, 2014, in accordance with the valuation techniques discussed in ASC 820.
	Preferred Stock Derivative Liabilities – Fiscal 2015
		Series I		Total
	Preferred Shares Authorized		500
	Preferred shares Outstanding as of March 31, 2015		100		100
	Underlying common shares into which Preferred may convert		142,857,143		142,857,143
	Closing price on valuation date	$	0.245	$	0.245
	Preferred stock derivative liability at March 31, 2015	$	35,000,000	$	35,000,000
	Change in preferred stock derivative liability for Fiscal 2015			$	-25,602,370
		Preferred Stock Derivative Liabilities – Fiscal 2014
		Series C		Series E		Series I		Total
	Preferred Shares Authorized		3,200		4,000		500
	Preferred shares Outstanding as of March 31, 2014		—		—		104.242		104.242
	Underlying common shares into which Preferred may convert		—		—		148,917,143		148,917,143
	Closing price on valuation date					$	0.41	$	0.41
	Preferred stock derivative liability at March 31, 2014	$	—	$	—	$	60,981,570	$	60,981,570
	Change in Preferred Derivative Liability for Fiscal 2014							$	56,518,425

DERIVATIVE_LIABILITIES_WARRANT1

DERIVATIVE LIABILITIES - WARRANTS (Tables)	12 Months Ended
	Mar. 31, 2015
Derivative Liabilities Warrants Disclosure [Abstract]
Schedule Of Warrants Activity [Table Text Block]	A summary of warrant activity for the fiscal years indicated below is as follows:
		Fiscal Year 2015					Fiscal Year 2014
		Warrant		Weighted			Warrant		Weighted
		Shares		Average			Shares		Average
				Exercise					Exercise
				Price					Price
	Balance at beginning of year		102,143,091	$	0.06			139,344,939	$	0.08
	Warrant exercises, forfeited or expired		12,273,057	$	0.07			37,201,848	$	0.09
	Ending Balance		89,870,034	$	0.06			102,143,091	$	0.06
Schedule Of Warrants Valuation Assumptions [Table Text Block]	The portion of derivative liabilities related to outstanding warrants was valued using the Black-Scholes option valuation model, a level 3 fair value hierarchy using the following assumptions:
		March 31			March 31
		2015			2014
	Risk-Free interest rate		0.05% - 0.89%			.05% - 1.32%
	Expected volatility		93% - 113%			111% - 207%
	Expected life (in years)		1.2 – 3.1			0.3 – 4.1
	Expected dividend yield		0%			0%
	Number of warrants		89,870,034			102,143,091
	Fair value – Warrant Derivative Liability	$	17,762,573		$	38,103,446
	Change in warrant derivative liability for the twelve months ended	$	-18,447,573		$	32,997,869
Schedule Of Warrants Measurement With Unobservable Inputs Reconciliation Recurring Basis [Table Text Block]	The following table summarizes, as of March 31, 2014, the warrant activity subject to Level 3 inputs which are measured on a recurring basis:
	Fair value measurements of warrants using significant unobservable inputs (Level 3)
		Fiscal 2015		Fiscal 2014
	Balance at Beginning of Fiscal Year	$	38,103,446	$	7,862,848
	Warrants Exercised		1,893,300		-2,757,271
	Change in fair value of warrant liability		-18,447,573		32,997,869
	Balance at End of Fiscal Year	$	17,762,573	$	38,103,446

COMMON_STOCK_Tables

COMMON STOCK (Tables)	12 Months Ended
	Mar. 31, 2015
Stockholders' Equity Note [Abstract]
Schedule of Common Stock Outstanding Roll Forward [Table Text Block]	During Fiscal Years 2015 and 2014, the Company issued a total of 70,918,271 shares and 185,748,471 shares of Common Stock, respectively, with such issuances of Common Stock being summarized as follows:
	Description	Fiscal Year		Fiscal Year
		2015		2014
	Common shares sold pursuant to the Lincoln Park Capital Purchase Agreements, with net proceeds of such shares totaling $13,236,624 and $10,000,000 in Fiscal 2015 and Fiscal 2014, respectively.		47,172,240		65,143,216
	Common shares issued as commitment shares pursuant to the Lincoln Park Capital Purchase Agreements		2,566,861		5,858,230
	Common Shares issued in lieu of cash payment in payment of preferred share derivative interest expenses totaling zero and $68,089 for Fiscal 2015 and Fiscal 2014, respectively		—		878,543
	Common Shares issued pursuant to the conversion of Series B, Series C, Series E and Series I Convertible Preferred Share derivatives, with such derivative liabilities totaling $2,272,500 and $9,825,066, for Fiscal 2015 and Fiscal 2014, respectively, at the time of their conversion.		6,060,000		91,796,043
	Common Shares issued in payment of Director’s fees totaling $110,000 and $110,000 for Fiscal 2015 and Fiscal 2014, respectively		321,611		1,210,583
	Common shares issued in payment of employee salaries totaling $849,737 and $368,233 for Fiscal 2015 and Fiscal 2014, respectively.		2,518,668		3,439,467
	Common shares issued in payment of consulting expenses totaling $23,999 and $18,836 for Fiscal 2015 and Fiscal 2014, respectively		70,169		210,018
	Common shares issued pursuant to warrants exercised		11,985,388		16,904,038
	Common shares issued pursuant to options exercised		223,334		308,333
	Total Common Shares issued during Fiscal 2015 and 2014		70,918,271		185,748,471
	Common Shares issued at March 31,		631,160,701		560,242,430

PER_SHARE_INFORMATION_Tables

PER SHARE INFORMATION (Tables)	12 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Basic EPS is calculated as follows:
		Fiscal Year		Fiscal Year
		2015		2014
	Numerator
	Net Income (Loss) attributable to common shareholders	$	28,932,671	$	-96,575,271
	Denominator
	Weighted average shares of common stock outstanding		591,214,959		463,021,991
	Net Earnings (Loss) per Share – Basic	$	0.05	$	-0.21
	Potentially dilutive securities excluded from the calculation of diluted loss per share for Fiscal 2014
	Stock Options	174,359
	Convertible Preferred Stock	148,917,143
	Warrants	15,782,718
	Diluted Earnings (Loss) per share (for Fiscal 2015) is calculated as follows:
		Fiscal Year
		2015
	Numerator
	Net Income attributable to common shareholders	$	28,932,671
	Adjustments to Net Income
	Reversal of Change in Value of Warrant Derivatives		-18,447,573
	Reversal of Change in Value of Preferred Share Derivatives		-25,602,370
	Net loss attributable to common shareholders on a diluted basis	$	-15,117,272
	Denominator
	Weighted average shares of common stock outstanding		591,214,959
	Dilutive effects of convertible preferred stock, warrants and options
	Convertible preferred Stock		142,857,143
	Warrants		22,926,029
	Stock Options		581,020
	Weighted average shares outstanding – diluted		757,579,152
	Fully Diluted Earnings (Loss) per Share	$	-0.02

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	Stock option based employee compensation is summarized as follows:
		Fiscal Year	Fiscal Year
		2015	2014
	Non-cash compensation through issuance of stock options	260,045	82,947

STOCK_OPTION_PLANS_Tables

STOCK OPTION PLANS (Tables)	12 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Transactions under the plans for the years indicated were as follows:
		Fiscal Year 2015				Fiscal Year 2014
		Options	Weighted			Options	Weighted
			Average				Average
			Exercise				Exercise
			Price				Price
	Outstanding at beginning of year	5,435,667	$	0.54		3,939,000	$	1.18
	Options Granted	2,590,000	$	0.31		3,000,000	$	0.07
	Options Exercised	223,334	$	0.12		308,333	$	0.08
	Options Expired/Forfeited	160,166	$	0.18		1,195,000	$	1.6
	Outstanding at end of year	7,642,167	$	0.48		5,435,667	$	0.54
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	The following table summarizes information about stock options outstanding at March 31, 2015:
	Range	Options	Weighted		Weighted		Options		Weighted
		Outstanding	Average		Average		Exercisable		Average
			Remaining		Exercise				Exercise
			Contractual		Price				Price
			Life
			(Years)
	$ 0.01 – 1.00	6,419,167	8.5		$	0.17	1,674,167		$	0.09
	1.01 – 2.00	96,000	2.8		$	1.08	96,000		$	1.08
	2.01 – 3.00	1,127,000	1.7		$	2.18	1,127,000		$	2.18
	$ 0.01 – 3.00	7,642,167	7.4		$	0.48	2,897,167		$	0.93

INCOME_TAXES_Tables

INCOME TAXES (Tables)	12 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The components of the credit for income taxes are as follows:
		Year Ended March 31,
		2015		2014
	Federal:
	Current	$	—	$	—
	Deferred		—		—
	State
	Current		-3,248	$	-3,099
	Deferred		—		—
	Sale of New Jersey Net Operating Losses		—		295,710
	Net Credit for Income Taxes	$	3,248	$	292,611
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	The Major components of deferred tax assets and liabilities at March 31, 2015 and 2014 are as follows (amounts in thousands of dollars):
		March 31,
		2015		2014
	Federal
	Net Operating Loss Carry forward	$	24,547	$	19,813
	Valuation Allowance		-24,547		-19,813
		$	—	$	—
	State
	Net Operating Loss Carryforwards	$	2,602	$	1,318
	Valuation Allowance		-2,602		-1,318
		$	—	$	—

CONVERSIONS_OF_PREFERRED_STOCK1

CONVERSIONS OF PREFERRED STOCK DERIVATIVES TO COMMON STOCK (Tables)	12 Months Ended
	Mar. 31, 2015
Conversions Of Preferred Stock Derivatives To Common Stock Abstract [Abstract]
Schedule of Conversions of Stock [Table Text Block]	Conversions of Preferred Derivatives during Fiscal 2015 and Fiscal 2014, are summarized as follows:
			Fiscal 2015	Fiscal 2014
	Series C Preferred Derivatives
	Number of Derivative Shares Converted		—	24
	Number of Common Shares issued pursuant to conversion		—	167,106
	Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)		—	47,452
	Change in value of preferred share derivative liability recorded at time of conversion		—	27,489
	Par value of Common Shares issued		—	167
	Additional paid in capital recorded as a result of the conversions		—	47,375
	*	Please also note that during Fiscal 2014, a total of 1,351 shares of Series C Preferred Derivatives were exchanged for 1,351 shares of Series G Preferred Derivatives, with such Series G shares having the same value as the Series C shares being exchanged.
	Series E Preferred Derivatives
	Number of Derivative Shares Converted		—	1,800
	Number of Common Shares issued pursuant to conversion		—	74,074,074
	Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)		—	7,888,066
	Change in value of preferred share derivative liability recorded at time of conversion		—	2,652,675
	Par value of Common Shares issued		—	74,074
	Additional paid in capital recorded as a result of the conversions		—	7,813,991
	Series G Preferred Derivatives
	Number of Derivative Shares Converted		—	1,351
	Number of Common Shares issued pursuant to conversion		—	17,554,863
	Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)		—	1,889,458
	Change in value of preferred share derivative liability recorded at time of conversion		—	557,773
	Par value of Common Shares issued		—	17,555
	Additional paid in capital recorded as a result of the conversions		—	1,871,903
	Series I Preferred Derivatives
	Number of Derivative Shares Converted		4.242	—
	Number of Common Shares issued pursuant to conversion		6,060,000	—
	Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)		2,272,500	—
	Change in value of preferred share derivative liability recorded at time of conversion		-303,000	—
	Par value of Common Shares issued		6,060	—
	Additional paid in capital recorded as a result of the conversions		2,266,440	—
	Total Preferred Derivatives
	Number of Derivative Shares Converted		4.242	3,175
	Number of Common Shares issued pursuant to conversion		6,060,000	91,796,043
	Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)		2,272,500	9,825,066
	Change in value of preferred share derivative liability recorded at time of conversion		-303,000	3,237,937
	Par value of Common Shares issued		6,060	91,796
	Additional paid in capital recorded as a result of the conversions		2,266,440	9,733,270

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash, Uninsured Amount	$7,464,180
Allocated Share-based Compensation Expense	$260,045	$82,947
Property, Plant and Equipment, Depreciation Methods	straight-line method
Finite-Lived Intangible Assets, Amortization Method	straight-line method
Maximum [Member]
Property, Plant and Equipment, Useful Life	40 years
Finite-Lived Intangible Asset, Useful Life	20 years
Minimum [Member]
Property, Plant and Equipment, Useful Life	5 years
Finite-Lived Intangible Asset, Useful Life	5 years

INVENTORIES_Details

INVENTORIES (Details) (USD $)	Mar. 31, 2015	Mar. 31, 2014
Inventory [Line Items]
Finished Goods	$122,772	$0
Work-in-Process	58,770	409,146
Raw Materials	2,850,459	1,523,341
Total Inventory	$3,032,001	$1,932,486

PROPERTY_AND_EQUIPMENT_Details

PROPERTY AND EQUIPMENT (Details) (USD $)	Mar. 31, 2015	Mar. 31, 2014
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$12,475,919	$9,707,979
Less: Accumulated depreciation	-6,074,117	-5,508,377
Property, Plant and Equipment, Net	6,401,802	4,199,602
Laboratory Manufacturing and Warehouse Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	7,593,017	5,952,084
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	209,551	95,309
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	49,804	49,804
Transportation Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	66,855	66,855
Land, Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$4,556,692	$3,543,927

PROPERTY_AND_EQUIPMENT_Details1

PROPERTY AND EQUIPMENT (Details Textual) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Depreciation	$567,679	$486,726

INTANGIBLE_ASSETS_Details

INTANGIBLE ASSETS (Details) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Intangible assets at beginning of fiscal year	$6,349,922	$694,424
Intangible asset costs capitalized during the fiscal year	31,853	5,655,495
Less: Accumulated Amortization	0	0
Intangible assets at end of fiscal year	6,381,774	6,349,922
Patent Application Cost [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets at beginning of fiscal year	302,602	244,424
Intangible asset costs capitalized during the fiscal year	31,855	58,178
Intangible assets at end of fiscal year	334,457	302,602
Anda Acquisition Cost [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets at beginning of fiscal year	6,047,317	450,000
Intangible asset costs capitalized during the fiscal year	0	5,597,317
Intangible assets at end of fiscal year	$6,047,317	$6,047,317

INTANGIBLE_ASSETS_Details_Text

INTANGIBLE ASSETS (Details Textual) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Amortization Method	straight-line method
Finite-lived Intangible Assets Acquired	$31,853	$5,655,495
Patent Applications [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	31,855	58,178
ANDA Acquisition Cost [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$0	$5,597,317
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years
Maximum [Member] | ANDA Acquisition Cost [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	15 years
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years
Minimum [Member] | ANDA Acquisition Cost [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years

INVESTMENT_IN_NOVEL_LABORATORI1

INVESTMENT IN NOVEL LABORATORIES INC.(Details Textual) (USD $)	0 Months Ended	12 Months Ended
	Jun. 10, 2014	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2006
Investment In Novel Laboratories Inc [Line Items]
Proceeds from Divestiture of Interest in Joint Venture	$5,000,000
Cost Method Investments	3,329,322	0	3,329,322
Gain on Sale of Investments	$1,670,685	$1,670,685	$0
Novel Laboratories Inc [Member]
Investment In Novel Laboratories Inc [Line Items]
Noncontrolling Interest, Ownership Shares Held by Parent	9,800			9,800

NJEDA_BONDS_Details

NJEDA BONDS (Details) (USD $)	1 Months Ended
	Aug. 31, 2005
Series A Note [Member]
Debt Instrument [Line Items]
Principal Amount On Issue Date	$3,660,000
Interest Rate	6.50%
Maturity	1-Sep-30
Series B Note [Member]
Debt Instrument [Line Items]
Principal Amount On Issue Date	$495,000
Interest Rate	9.00%
Maturity	1-Sep-12

NJEDA_BONDS_Details_1

NJEDA BONDS (Details 1) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Njeda Bonds [Line Items]
Bond Issue Costs	$354,453	$354,453
Accumulated Amortization	-135,874	-121,697
Unamortized Balance	218,579	232,756
Bond [Member]
Njeda Bonds [Line Items]
Amortization Expense Current Quarter	($14,177)

NJEDA_BONDS_Details_2

NJEDA BONDS (Details 2) (USD $)	Mar. 31, 2015	Mar. 31, 2014
Debt Instrument [Line Items]
Current portion	($210,000)	($3,385,000)
Long term portion, net of current maturities	2,065,000	0
Njeda Bonds [Member]
Debt Instrument [Line Items]
Refinanced NJEDA Bonds	2,275,000	3,385,000
Current portion	-210,000	-3,385,000
Long term portion, net of current maturities	$2,065,000	$0

NJEDA_BONDS_Details_3

NJEDA BONDS (Details 3) (Njeda Bonds [Member], USD $)	Mar. 31, 2015
Njeda Bonds [Member]
Debt Instrument [Line Items]
2016	$210,000
2017	220,000
2018	85,000
2019	90,000
2020	95,000
Thereafter	1,575,000
Long term portion, net of current maturities	$2,275,000

NJEDA_BONDS_Details_Textual

NJEDA BONDS (Details Textual) (Series A Note [Member], USD $)	Mar. 31, 2015
Series A Note [Member]
Debt Service Reserve Fund	$366,000

LOANS_PAYABLE_AND_LONG_TERM_DE2

LOANS PAYABLE AND LONG TERM DEBT (Details) (USD $)	Mar. 31, 2015	Mar. 31, 2014
Debt Instrument [Line Items]
Equipment and Insurance financing loans payable, Current	$265,165	$18,870
Lease termination costs - 135 Ludlow Ave lease (see note 9), Current	0	0
TOTAL, Current	265,165	18,870
Equipment and Insurance financing loans payable, Long -Term	560,338	87,574
Deferred Rent-135 Ludlow Ave Lease (see note 9), Long - Term	42,524	18,821
Lease termination costs - 135 Ludlow Ave lease (see note 9), Long- Term	26,275	24,749
TOTAL, Long-Term	$629,138	$131,144

LOANS_PAYABLE_AND_LONG_TERM_DE3

LOANS PAYABLE AND LONG TERM DEBT (Details 1) (Secured Debt [Member], USD $)	Mar. 31, 2015
Secured Debt [Member]
2016	$265,165
2017	250,856
2018	137,711
2019	104,676
2020	67,095
Thereafter	0
Total Principal Payments	$825,503

LOANS_PAYABLE_AND_LONG_TERM_DE4

LOANS PAYABLE AND LONG TERM DEBT (Details Textual) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$909,477	$107,960
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	5.70%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	13.10%
Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Term	60 months
Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Term	9 months

RELATED_PARTY_LINES_OF_CREDIT_1

RELATED PARTY LINES OF CREDIT AND NOTES PAYABLE (Details Textual) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Related Party Transaction [Line Items]
Debt Instrument, Convertible, Conversion Price	$0.07
Debt Instrument, Convertible, Number of Equity Instruments	14,286
Debt Conversion, Original Debt, Amount	$1,000
Debt Instrument, Face Amount	909,477	107,960
Mikah Note Payable [Member]
Related Party Transaction [Line Items]
Debt Instrument, Convertible, Conversion Price	$0.07
Debt Instrument, Convertible, Number of Equity Instruments	1
Debt Instrument, Face Amount	10,000,000
Debt Instrument Convertible Original Debt Amount	1,000
Mikah Note Payable [Member] | Common Stock [Member]
Related Party Transaction [Line Items]
Debt Instrument, Convertible, Number of Equity Instruments	14,286
Mikah Note Payable [Member] | Preferred Stock [Member]
Related Party Transaction [Line Items]
Debt Conversion, Original Debt, Amount	10,000,000
Debt Instrument Convertible Original Debt Amount	100,000
Debt Conversion, Converted Instrument, Shares Issued	100
Hakim Credit Line [Member]
Related Party Transaction [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	1,000,000
Line of Credit Facility, Interest Rate at Period End	10.00%
Debt Instrument, Face Amount	583,071	528,750
Interest Payable, Current	$18,105	$9,810

LEASES_OF_RENTAL_PROPERTIES_De

LEASES OF RENTAL PROPERTIES (Details) (USD $)	1 Months Ended	12 Months Ended
	Jul. 31, 2014	Mar. 31, 2015		Mar. 31, 2014
Leases Of Rental Properties [Line Items]
Effective Date		1-Jul-10	[1]
Termination Date	31-Dec-16	31-Dec-16
Lease term		6 years with 2 tenant renewal options for 5 years each
Rent Expense		$153,430		$33,820
Minimum 5 Year Lease Payments
Fiscal year ended March 31, 2016		203,850	[2],[3]
Fiscal year ended March 31, 2017		155,169	[2],[3]
Fiscal year ended March 31, 2018		0	[2],[3]
Fiscal year ended March 31, 2019		0	[2],[3]
Fiscal year ended March 31, 2020		0	[2],[3]
Operating Leases, Future Minimum Payments Due		$359,019	[2],[3]
[1]	Inclusive of a modification of lease agreement dated July 29, 2014
[2]	Minimum lease payments are exclusive of additional expenses related to certain expenses incurred in the operation and maintenance of the premises, including, without limitation, real estate taxes and common area charges which may be due under the terms and conditions of the lease.
[3]	Minimum lease payments calculated for the initial term of the lease only, with such initial term expiring on December 31, 2016.

LEASES_OF_RENTAL_PROPERTIES_De1

LEASES OF RENTAL PROPERTIES (Details 1) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Leases Of Rental Properties [Line Items]
Rent Expense	$153,430	$33,820
Actual lease payments	114,321	83,259
Increase in deferred rent liability	23,703	-49,439
Adjustments to deferred rent liability	-15,409	-56,518
Balance of deferred rent liability	$42,524	$18,824

LEASE_OF_135_LUDLOW_AVENUE_Det

LEASE OF 135 LUDLOW AVENUE (Details Textual)	1 Months Ended	12 Months Ended
	Jul. 31, 2014	Mar. 31, 2015		Jul. 01, 2010	Jul. 29, 2014
				sqft	sqft
Operating Leases Rental Properties [Line Items]
Lease Initiation Date		1-Jul-10	[1]
Lease Expiration Date	31-Dec-16	31-Dec-16
Lease Renewal Term		5 years
Property Subject to Operating Lease [Member] | Warehouse [Member]
Operating Leases Rental Properties [Line Items]
Area of Land				15,000
July 2014 Modification Agreement [Member] | Leasehold Improvements [Member] | Warehouse [Member]
Operating Leases Rental Properties [Line Items]
Area of Land		20,000
July 2014 Modification Agreement [Member] | Property Subject to Operating Lease [Member] | Warehouse [Member]
Operating Leases Rental Properties [Line Items]
Area of Land					35,000
[1]	Inclusive of a modification of lease agreement dated July 29, 2014

LEASE_TERMINATION_COSTS_135_LU1

LEASE TERMINATION COSTS - 135 LUDLOW AVENUE (Details Textual) (USD $)	Mar. 31, 2015
Lease Termination Costs [Line Items]
Lease Termination Cost Payable	$50,000

DEFERRED_REVENUES_Details_Text

DEFERRED REVENUES (Details Textual) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Deferred Revenue Arrangement [Line Items]
Finite-Lived Intangible Assets, Amortization Method	straight-line method
Deferred Revenue	$138,889
Deferred Revenue, Current	13,333	13,333
Deferred Revenue, Noncurrent	125,557	138,890
Advance Rent	$200,000
Licensing Agreements [Member]
Deferred Revenue Arrangement [Line Items]
Finite-Lived Intangible Assets, Amortization Method	straight line basis
Finite-Lived Intangible Asset, Useful Life	15 years

DERIVATIVE_LIABILITIES_PREFERR2

DERIVATIVE LIABILITIES - PREFERRED SHARES (Details) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Class of Stock [Line Items]
Preferred shares Outstanding	100	104.242
Underlying common shares into which Preferred may convert	142,857,143	148,917,143
Closing price on valuation date	$0.25	$0.41
Preferred stock derivative liability	$35,000,000	$60,981,570
Change in Preferred Derivative Liability	25,602,370	-56,518,425
Series C Preferred Stock Derivative Liability [Member]
Class of Stock [Line Items]
Preferred Shares Authorized		3,200
Preferred shares Outstanding		0
Underlying common shares into which Preferred may convert		0
Preferred stock derivative liability		0
Series E Preferred Stock Derivative Liability [Member]
Class of Stock [Line Items]
Preferred Shares Authorized		4,000
Preferred shares Outstanding		0
Underlying common shares into which Preferred may convert		0
Preferred stock derivative liability		0
Series I Preferred Stock Derivative Liability [Member]
Class of Stock [Line Items]
Preferred Shares Authorized	500	500
Preferred shares Outstanding	100	104.242
Underlying common shares into which Preferred may convert	142,857,143	148,917,143
Closing price on valuation date	$0.25	$0.41
Preferred stock derivative liability	$35,000,000	$60,981,570

DERIVATIVE_LIABILITIES_PREFERR3

DERIVATIVE LIABILITIES - PREFERRED SHARES (Details Textual) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Derivative [Line Items]
Change in Preferred Stock Derivative Liability	$25,602,370	($56,518,425)

DERIVATIVE_LIABILITIES_WARRANT2

DERIVATIVE LIABILITIES - WARRANTS (Details) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Class of Warrant or Right [Line Items]
Balance at beginning of year	102,143,091	139,344,939
Warrant exercises, forfeited or expired	12,273,057	37,201,848
Ending Balance	89,870,034	102,143,091
Balance at beginning of year	$0.06	$0.08
Warrant exercises, forfeited or expired	$0.07	$0.09
Ending Balance	$0.06	$0.06

DERIVATIVE_LIABILITIES_WARRANT3

DERIVATIVE LIABILITIES - WARRANTS (Details 1) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Class of Warrant or Right [Line Items]
Number of warrants	89,870,034	102,143,091	139,344,939
Fair value - Warrant Derivative Liability	$17,762,573	$38,103,446	$7,862,848
Change in warrant derivative liability for the twelve months ended	$18,447,573	($32,997,869)
Warrant [Member]
Class of Warrant or Right [Line Items]
Expected dividend yield	0.00%	0.00%
Warrant [Member] | Maximum [Member]
Class of Warrant or Right [Line Items]
Risk-Free interest rate	0.89%	1.32%
Expected volatility	113.00%	207.00%
Expected life (in years)	3 years 1 month 6 days	4 years 1 month 6 days
Warrant [Member] | Minimum [Member]
Class of Warrant or Right [Line Items]
Risk-Free interest rate	0.05%	0.05%
Expected volatility	93.00%	111.00%
Expected life (in years)	1 year 2 months 12 days	3 months 18 days

DERIVATIVE_LIABILITIES_WARRANT4

DERIVATIVE LIABILITIES - WARRANTS (Details 2) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Class of Warrant or Right [Line Items]
Balance at Beginning of Fiscal Year	$38,103,446	$7,862,848
Warrants Exercised	1,893,300	-2,757,271
Change in fair value of warrant liability	-18,447,573	32,997,869
Balance at End of Fiscal Year	$17,762,573	$38,103,446

DERIVATIVE_LIABILITIES_WARRANT5

DERIVATIVE LIABILITIES - WARRANTS (Details Textual) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Class of Warrant or Right [Line Items]
Change In Fair Value Of Warrant Derivatives	$18,447,573	($32,997,869)
Maximum [Member]
Class of Warrant or Right [Line Items]
Derivative Liability, Warrants Maturity Period	7 years
Derivative Liability, Warrants Exercise Price	$0.25
Minimum [Member]
Class of Warrant or Right [Line Items]
Derivative Liability, Warrants Maturity Period	5 years
Derivative Liability, Warrants Exercise Price	$0.06

COMMON_STOCK_Details

COMMON STOCK (Details)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Class of Stock [Line Items]
Common shares issued pursuant to options exercised	223,334	308,333
Common Stock [Member]
Class of Stock [Line Items]
Common shares sold pursuant to the Lincoln Park Capital Purchase Agreements, with net proceeds of such shares totaling $13,236,624 and $10,000,000 in Fiscal 2015 and Fiscal 2014, respectively.	47,172,240	65,143,216
Common shares issued as commitment shares pursuant to the Lincoln Park Capital Purchase Agreements	2,566,861	5,858,230
Common Shares issued in lieu of cash payment in payment of preferred share derivative interest expenses totaling zero and $68,089 for Fiscal 2015 and Fiscal 2014, respectively	0	878,543
Common Shares issued pursuant to the conversion of Series B, Series C, Series E and Series I Convertible Preferred Share derivatives, with such derivative liabilities totaling $2,272,500 and $9,825,066, for Fiscal 2015 and Fiscal 2014, respectively, at the time of their conversion.	6,060,000	91,796,043
Common Shares issued in payment of Directorbs fees totaling $110,000 and $110,000 for Fiscal 2015 and Fiscal 2014, respectively	321,611	1,210,583
Common shares issued in payment of employee salaries totaling $849,737 and $368,233 for Fiscal 2015 and Fiscal 2014, respectively.	2,518,668	3,439,467
Common shares issued in payment of consulting expenses totaling $23,999 and $18,836 for Fiscal 2015 and Fiscal 2014, respectively	70,169	210,018
Common shares issued pursuant to warrants exercised	11,985,388	16,904,038
Common shares issued pursuant to options exercised	223,334	308,333
Total Common Shares issued during Fiscal 2015 and 2014	70,918,271	185,748,471
Common Shares issued at March 31,	631,160,701	560,242,430	374,493,959

COMMON_STOCK_Details_Textual

COMMON STOCK (Details Textual) (USD $)	12 Months Ended		0 Months Ended	1 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Apr. 10, 2014	Apr. 19, 2013	Jun. 08, 2015
Class of Stock [Line Items]
Stock Issued During Period Value Payment For Preferred Share Derivative Interest	$0	$68,089
Conversion Of Series B Series C and Series E Preferred Shares Into Common Shares Value	2,272,500	9,825,066
Stock Issued During Period Value Payment Of Directors Fees	110,000	110,000
Stock Issued During Period Value Payment Of Employee Salaries	849,737	368,233
Stock Issued During Period, Value, Issued for Services	23,999	18,836
Stock Issued During Period, Value, New Issues	13,236,624	10,000,000
Proceeds from Issuance of Common Stock	13,236,624	10,000,000
Common Stock Traded Percent	30.00%
Common Stock Weighted Average Price Percent	97.00%
Lincoln Park Capital Fund, LLC [Member]
Class of Stock [Line Items]
Obligation to Purchase Common Stock Value on Issue				10,000,000
Common Stock Shares Issued During Period	1,928,641		40,000,000
Common Stock Additional Shares To Be Issued During Period	1,928,641
Lincoln Park Capital Fund, LLC [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Common Stock Shares Issued During Period					55,153,207
Common Stock Additional Shares To Be Issued During Period					2,649,494
Proceeds from Issuance of Common Stock					15,000,000
Maximum Common Stock Shares Directed to Purchase	500,000
Purchase of Common Stock Increasing Shares Per Purchase	800,000
Maximum Common Stock Value Directed to Purchase	760,000
Common Stock Floor Price Per Share	$0.10
Maximum Percentage to Purchase Common Stock Shares	9.99%
Common Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period Value Payment For Preferred Share Derivative Interest		879
Stock Issued During Period Value Payment Of Directors Fees	322	1,211
Stock Issued During Period Value Payment Of Employee Salaries	2,519	3,439
Stock Issued During Period, Value, Issued for Services	70	210
Stock Issued During Period, Value, New Issues	$47,172	$65,143
Stock Issued During Period, Shares, Period Increase (Decrease)	70,918,271	185,748,471

PER_SHARE_INFORMATION_Details

PER SHARE INFORMATION (Details) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Numerator
Net Income (Loss) attributable to common shareholders	$28,929,674	($96,575,271)
Denominator
Weighted average shares of common stock outstanding	591,214,959	463,021,991
Net Earnings (Loss) per Share - Basic	$0.05	($0.21)
Potentially dilutive securities excluded from the calculation of diluted loss per share for Fiscal 2014
Stock Options (in shares)	581,020	174,359
Convertible Preferred Stock (in shares)	142,857,143	148,917,143
Warrants (in shares)	22,926,029	15,782,718

PER_SHARE_INFORMATION_Details_

PER SHARE INFORMATION (Details 1) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Numerator
Net Income attributable to common shareholders	$28,929,674	($96,575,271)
Adjustments to Net Income
Reversal of Change in Value of Warrant Derivatives	-18,447,573
Reversal of Change in Value of Preferred Share Derivatives	-25,602,370
Net loss attributable to common shareholders on a diluted basis	($15,117,272)
Denominator
Weighted average shares of common stock outstanding	591,214,959	463,021,991
Dilutive effects of convertible preferred stock, warrants and options
Convertible preferred Stock	142,857,143	148,917,143
Warrants	22,926,029	15,782,718
Stock Options	581,020	174,359
Weighted average shares outstanding - diluted	757,579,152	463,021,991
Fully Diluted Earnings (Loss) per Share	($0.02)	($0.21)

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Details) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash compensation through issuance of stock options	$260,045	$82,947

STOCKBASED_COMPENSATION_Detail1

STOCK-BASED COMPENSATION (Details Textual) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Noninterest Expense Directors Fees			$110,000		$110,000
Officers' Compensation	259,750		849,737		368,233
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		2,590,000		3,000,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$0.31		$0.07
Share based Compensation Arrangements By Share based Payment Award Options Grants In Period Grant Date Fair Value		769,400		202,497
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$0.26
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$0.46
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period Shares Payment Of Directors Fees		321,611		1,210,583
Noninterest Expense Directors Fees	$27,500
Shares For Payment Of Directors Fees Outstanding	115,038	115,038
Stock Issued During Period Shares Payment Of Employee Salaries		2,518,668		3,439,467
Stock Outstanding For Payment Of Employee Salaries	1,089,991	1,089,991

STOCK_OPTION_PLANS_Details

STOCK OPTION PLANS (Details) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option, Outstanding at beginning of year	5,435,667	3,939,000
Options, Granted	2,590,000	3,000,000
Issuance of Common Shares pursuant to the exercise of options (in shares)	223,334	308,333
Options, Expired/Forfeited	160,166	1,195,000
Option, Outstanding at end of year	7,642,167	5,435,667
Weighted Average Exercise Price, Outstanding at beginning of year	$0.54	$1.18
Weighted Average Exercise Price, Options Granted	$0.31	$0.07
Weighted Average Exercise Price, Options Exercised	$0.12	$0.08
Weighted Average Exercise Price, Options Expired/Forfeited	$0.18	$1.60
Weighted Average Exercise Price, Outstanding at end of year	$0.48	$0.54

STOCK_OPTION_PLANS_Details_1

STOCK OPTION PLANS (Details 1) (USD $)	12 Months Ended
	Mar. 31, 2015
Stock Option Exercise Price Range One [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	6,419,167
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	8 years 6 months
Options Outstanding, Weighted Average Exercise Price	$0.17
Options Exercisable	1,674,167
Options Exercisable, Weighted Average Exercise Price	$0.09
Exercise Lower Range Limit	$0.01
Exercise Upper Range Limit	$1
Stock Option Exercise Price Range Two [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	96,000
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	2 years 9 months 18 days
Options Outstanding, Weighted Average Exercise Price	$1.08
Options Exercisable	96,000
Options Exercisable, Weighted Average Exercise Price	$1.08
Exercise Lower Range Limit	$1.01
Exercise Upper Range Limit	$2
Stock Option Exercise Price Range Three [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	1,127,000
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	1 year 8 months 12 days
Options Outstanding, Weighted Average Exercise Price	$2.18
Options Exercisable	1,127,000
Options Exercisable, Weighted Average Exercise Price	$2.18
Exercise Lower Range Limit	$2.01
Exercise Upper Range Limit	$3
Stock Option Exercise Price Range Four [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	7,642,167
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	7 years 4 months 24 days
Options Outstanding, Weighted Average Exercise Price	$0.48
Options Exercisable	2,897,167
Options Exercisable, Weighted Average Exercise Price	$0.93
Exercise Lower Range Limit	$0.01
Exercise Upper Range Limit	$3

STOCK_OPTION_PLANS_Details_Tex

STOCK OPTION PLANS (Details Textual)	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	6,029,227

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Federal:
Current	$0	$0
Deferred	0	0
State
Current	-3,248	-3,099
Deferred		0
Sale of New Jersey Net Operating Losses	0	295,710
Net Credit for Income Taxes	$3,248	$292,611

INCOME_TAXES_Details_1

INCOME TAXES (Details 1) (USD $)	Mar. 31, 2015	Mar. 31, 2014
In Thousands, unless otherwise specified
Federal:
Net Operating Loss Carry forward	$24,547	$19,813
Valuation Allowance	-24,547	-19,813
Deferred Tax Assets, Net	0	0
State and Local Jurisdiction [Member]
Federal:
Net Operating Loss Carry forward	2,602	1,318
Valuation Allowance	-2,602	-1,318
Deferred Tax Assets, Net	$0	$0

INCOME_TAXES_Details_Textual

INCOME TAXES (Details Textual)	12 Months Ended
	Mar. 31, 2015
Valuation Allowance, Commentary	At March 31, 2015 and 2014, a 100% valuation allowance is provided

CONCENTRATIONS_Details_Textual

CONCENTRATIONS (Details Textual)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Three Customers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	96.00%	88.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Three Customers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	89.00%	83.00%
Cost of Goods, Total [Member] | Supplier Concentration Risk [Member] | Seven Suppliers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		80.00%
Cost of Goods, Total [Member] | Supplier Concentration Risk [Member] | Two Out of Seven Suppliers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		52.00%
Cost of Goods, Total [Member] | Supplier Concentration Risk [Member] | Five Suppliers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	80.00%
Cost of Goods, Total [Member] | Supplier Concentration Risk [Member] | Three Out Of Seven Suppliers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	68.00%

RELATED_PARTY_TRANSACTION_STRA1

RELATED PARTY TRANSACTION - STRATEGIC ALLIANCE WITH EPIC PHARMA LLC and EPIC INVESTMENTS LLC (Details Textual) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party	$7,937	$69,512
Related Party Transaction, Expenses from Transactions with Related Party	7,937	30,835
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party		29,668
Inventories [Member] | Epic Pharma Llc [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party	$0	$9,009

RELATED_PARTY_TRANSACTION_MANU1

RELATED PARTY TRANSACTION - MANUFACTURING and LICENSE AGREEMENT WITH EPIC PHARMA LLC (Details Textual) (Epic Pharma Llc [Member], USD $)	12 Months Ended
	Mar. 31, 2015
Epic Pharma Llc [Member]
Related Party Transaction [Line Items]
Income From Milestone Payments under Manufacturing and License Agreement	$1,000,000

TRANSACTIONS_WITH_RELATED_PART1

TRANSACTIONS WITH RELATED PARTIES - NASRAT HAKIM AND MIKAH PHARMA LLC (Details Textual) (USD $)	12 Months Ended		1 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Aug. 27, 2010	Feb. 07, 2014
Related Party Transaction [Line Items]
Business Combination, Consideration Transferred	$10,000,000
Debt Instrument, Convertible, Conversion Price	$0.07
Debt Instrument, Convertible, Number of Equity Instruments	14,286
Debt Conversion, Original Debt, Amount	1,000
Related Party Transaction, Purchases from Related Party	7,937	69,512
Payments To Acquire Intangible Assets	31,853	58,178
Naltrexone Agreement [Member]
Related Party Transaction [Line Items]
Payments To Acquire Intangible Assets			200,000
Mikah Pharma Llc [Member]
Related Party Transaction [Line Items]
Due to Related Parties	200,000
Mikah Pharma Llc [Member] | Property, Plant and Equipment [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party		11,000
Mikah Pharma Llc [Member] | Inventories [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party		75,600
Series I Preferred Stock [Member] | Mikah Pharma Llc [Member]
Related Party Transaction [Line Items]
Debt Conversion, Original Debt, Amount				$10,000,000
Debt Conversion, Description	1 share of Series I Preferred Stock for each $100,000 of principal owed on the Mikah Note
Debt Conversion, Converted Instrument, Shares Issued				100

CONVERSIONS_OF_PREFERRED_STOCK2

CONVERSIONS OF PREFERRED STOCK DERIVATIVES TO COMMON STOCK (Details) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Conversion of Stock [Line Items]
Number of Derivative Shares Converted	4.242	3,175
Number of Common Shares issued pursuant to conversion	6,060,000	91,796,043
Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)	$2,272,500	$9,825,066
Change in value of preferred share derivative liability recorded at time of conversion	-303,000	3,237,937
Par value of Common Shares issued	2,272,500	9,825,066
Additional paid in capital recorded as a result of the conversions	2,266,440	9,733,270
Series C Preferred Stock [Member]
Conversion of Stock [Line Items]
Number of Derivative Shares Converted	0	24
Number of Common Shares issued pursuant to conversion	0	167,106
Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)	0	47,452
Change in value of preferred share derivative liability recorded at time of conversion	0	27,489
Par value of Common Shares issued	0	167
Additional paid in capital recorded as a result of the conversions	0	47,375
Series E Preferred Stock [Member]
Conversion of Stock [Line Items]
Number of Derivative Shares Converted	0	1,800
Number of Common Shares issued pursuant to conversion	0	74,074,074
Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)	0	7,888,066
Change in value of preferred share derivative liability recorded at time of conversion	0	2,652,675
Par value of Common Shares issued	0	74,074
Additional paid in capital recorded as a result of the conversions	0	7,813,991
Series G Preferred Stock [Member]
Conversion of Stock [Line Items]
Number of Derivative Shares Converted	0	1,351
Number of Common Shares issued pursuant to conversion	0	17,554,863
Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)	0	1,889,458
Change in value of preferred share derivative liability recorded at time of conversion	0	557,773
Par value of Common Shares issued	0	17,555
Additional paid in capital recorded as a result of the conversions	0	1,871,903
Series I Preferred Derivatives [Member]
Conversion of Stock [Line Items]
Number of Derivative Shares Converted	4.242	0
Number of Common Shares issued pursuant to conversion	6,060,000	0
Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)	2,272,500	0
Change in value of preferred share derivative liability recorded at time of conversion	-303,000	0
Par value of Common Shares issued	6,060	0
Additional paid in capital recorded as a result of the conversions	$2,266,440	$0

CONVERSIONS_OF_PREFERRED_STOCK3

CONVERSIONS OF PREFERRED STOCK DERIVATIVES TO COMMON STOCK (Details Textual)	12 Months Ended
	Mar. 31, 2015
Conversion of Stock [Line Items]
Preferred Units, Description	a total of 1,351 shares of Series C Preferred Derivatives were exchanged for 1,351 shares of Series G Preferred Derivatives, with such Series G shares having the same value as the Series C shares being exchanged
Series C Convertible Preferred Stock Derivatives [Member]
Conversion of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage	8.00%
Series E Convertible Preferred Stock Derivatives [Member]
Conversion of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage	8.00%

RIGHTS_PLAN_Details_Textual

RIGHTS PLAN (Details Textual) (Series H Junior Participating Preferred Stock [Member])	0 Months Ended
	Nov. 15, 2013
Series H Junior Participating Preferred Stock [Member]
Rights Plan [Line Items]
Dividend Distribution Common Stock Rights Description	dividend distribution of one right for each outstanding share of our common stock and one right for each share of Common Stock into which any of our outstanding Preferred Stock is convertible, to stockholders of record at the close of business on that date.
Dividend Distribution Rights Issue Description	Each Right entitles the registered holder to purchase from us one Unit consisting of one one-millionth (1/1,000,000) of a share of Series H Junior Participating preferred stock, par value $0.01 per share (the H Preferred Stock), at a purchase price of $2.10 per Unit
Dividend Distribution Rights Issue Redemption Price Per Right	0.000001
Dividend Distribution Minimum Percentage For Transfer Of Rights	15.00%
Dividend Distribution Rights Issue Expiration Date	15-Nov-13

SUBSEQUENT_EVENTS_Details_Text

SUBSEQUENT EVENTS (Details Textual) (USD $)	12 Months Ended		2 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Jun. 08, 2015
Subsequent Event [Line Items]
Proceeds from Issuance of Common Stock	$13,236,624	$10,000,000
Common Stock [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, Issued for Capital Purchase Agreement	2,566,861	5,858,230
Subsequent Event [Member] | LPC-40 Purchase Agreement [Member]
Subsequent Event [Line Items]
Sale of Stock, Number of Shares Issued in Transaction			7,662,233
Proceeds from Issuance of Common Stock			1,638,914
Stock Issued During Period, Shares, Issued for Capital Purchase Agreement			79,020
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Sale of Stock, Number of Shares Issued in Transaction			19,194,756
Proceeds from Issuance of Warrants			$1,199,672