Exhibit 99.1

ELITE PHARMACEUTICALS RECEIVES APPROVAL FROM INDEPENDENT REVIEW BOARD TO
INITIATE PHASE II CLINICAL TRIAL FOR ABUSE RESISTANT DRUG PRODUCT

NORTHVALE, N.J.--(BUSINESS WIRE)--Sept. 6, 2006--Elite Pharmaceuticals Inc.
("Elite" or the "Company") (Amex: ELI), has received approval from an
Independent Review Board (IRB) to initiate a Phase II clinical trial of its
abuse resistant drug product, ELI-216. An IRB approval is necessary before a
clinical trial can commence.

This product uses the Company's patent-pending abuse resistant technology, based
on a pharmacological intervention approach. The product utilizes an
agonist-antagonist combination approach to deter opioid abuse. ELI-216 is a
combination of a narcotic agonist, oxycodone hydrochloride, in a sustained
release formulation intended for use in patients with moderate to severe chronic
pain, and an antagonist, naltrexone hydrochloride, formulated to deter abuse of
the drug. Both of these compounds, oxycodone hydrochloride and naltrexone
hydrochloride, have been on the market for a number of years and are widely
accepted by the medical community.

The study is designed to evaluate the euphoria blocking effects of ELI-216 and
to determine the appropriate levels of naltrexone hydrochloride required to
reduce or eliminate the euphoria experienced by abusers of oxycodone
hydrochloride.

The Company's Phase I trial showed that there were no quantifiable levels of
naltrexone hydrochloride in the bloodstream when ELI-216 was administered intact
to healthy subjects, but was released into the bloodstream as intended when
ELI-216 was crushed.

"The IRB approval is an important milestone in the development of Elite's abuse
resistant drug product program," said Bernard Berk, chairman and chief executive
officer of Elite Pharmaceuticals. "This achievement is another step forward for
Elite in establishing itself as a leader and innovator in pain management. Our
goal is to address this large unmet medical need by providing better, safer,
more abuse-resistant pain products that positively affect people who are
suffering from chronic pain."

A consulting group, commissioned by the Company to do market research, prepared
a report that described the market size for ELI-216 as potentially in excess of
$800 million.

About Elite Pharmaceuticals

Elite Pharmaceuticals is a specialty pharmaceutical company principally engaged
in the development and manufacturing of oral controlled-release products. The
Company's strategy includes developing generic versions of controlled release
drug products with high barriers to entry and assisting partner companies in the
life cycle management of products to improve off-patent drug products. Elite's
technology is applicable to develop delayed, sustained or targeted release
capsules or tablets. Elite has one product currently being sold commercially and
a pipeline of eight drug products under development in the therapeutic areas
that include pain management, allergy, cardiovascular and infection. The
addressable market for Elite's current pipeline of products exceeds $6 billion.
Elite also has a GMP and DEA registered facility for research, development, and
manufacturing located in Northvale, NJ.

This news release contains forward-looking statements, including those related
to the preliminary nature of the clinical program results and the potential for
further product development, that involve known and unknown risks, delays,
uncertainties and other factors not under the control of the Company, which may
cause actual results, performance or achievements of the companies to be
materially different from the results, performance or other expectations implied
by these forward-looking statements. In particular, because substantial future
testing will be required prior to approval, the results described above may not
be supported by additional data or by the results of subsequent trials. These
risks and other factors, including the timing or results of pending and future
clinical trials, regulatory reviews and approvals by the Food and Drug
Administration and other regulatory authorities, and intellectual property
protections and



defenses, are discussed in Elite's filings with the Securities and Exchange
Commission such as the 10K, 10Q and 8K reports. The Company undertakes no
obligation to update any forward-looking statements.

FOR FURTHER INFORMATION, CONTACT:

Investor Relations
The Investor Relations Group
Dian Griesel/ Antima "Taz" Sadhukhan
Phone: 212-825-3210

For Elite Pharmaceuticals, Inc.
Dianne Will, Investor Relations
Phone: 518-398-6222
E-Mail: dwill@willstar.net
Website: www.elitepharma.com