ELTP - Earnings call transcript Q2 2018 | Elite Pharmaceuticals, Inc.

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Operator

Good morning, ladies and gentlemen. And welcome to the Elite Pharmaceuticals’ Conference Call. At this time, all lines have been placed on listen-only mode.

Before the management begins speaking, the company asked the following statement. This conference call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those related to the effect, if any, on future results, performance or other expectations that may have some correlation to the subject matter of this conference call. or such that Elite’s involve approval of or under inability ability different transfers the that including, and of to cautioned such be of result of limitation, Elite may of and without to ANDAs be which obtain are necessary materially forward-looking delays, -- risks statements uncertainties other performance the which forward-looking approval other ingredients Listeners process, timing factors uncertainties, the obtain Elite, results, achievements not may the or performance results, from expectations the control these by may cause actual implied to FDA statements. take regarding at CRL, the a the forward-looking of may by to result action the SequestOx and These require FDA approval of the order timing the may of FDA, in the NDA. all, include of as of obtain approval, Elite if statements of the statements the Elite expected steps approval, forward-looking obtain statements all, require of include the SequestOx statements in of the regarding These timing NDAs. may approval the to and order of the if Elite the FDA actions at the by FDA of expected forward-looking performance. action are not or These guarantees future statements of ability Securities filings and Forms or the regulatory X-K. and LPC including, factors, intellectual on risks protections property, and and are limitation, Exchange obtain its trials, and in and regulatory the without clinical authorities the the Food Drug by future Elite’s other XX-Q Administration and and defenses, Commission, XX-K, These funding sufficient results discussed approvals reports under and including Agreement Elite’s sources, other other pending or to timing of and reviews statements, otherwise. result new to obligation information, under future forward-looking is no or a or update of alter events as Elite whether its to now to covered, my floor Mr. turn that over With is the it host, your pleasure Pharmaceuticals. Hakim, President Officer Chief of Elite and Executive Nasrat is the Sir, yours. floor

Nasrat Hakim

am Myles, President Elite’s Hakim. call. you, My CEO. earnings is and morning, This and gentlemen. ladies good I name Elite’s and Thank is Nasrat

facility, of summary already marketing us on Dianne. will abandoning R&D Carter, which to an Financial and and go sales Elite’s Ward, an us ANDAs, ahead I Officer our you give technology, high Mr. questions will come Chief Carter and back our if submitted financials. pipeline So update give update. few with After please answer SequestOX, and

Carter Ward

everyone Nasrat, you, XX, today. the XX-Q, in thanks and and months September filed for the Yesterday, calling Thank for we six XXXX. quarter ended our

on We’re year. fiscal a March

else second your So available quarter is is half of which year the SEC of get March fiscal section wherever website, Investors the on ending quarter September may XX, through filings. our is our the you year. the way XXXX, or elitepharma.com, Q

shareholders comments as this we from many will some receive even financially always, came and haven’t briefly get and those follow elitepharma.com do If that okay. you analysis that is are and morning, Q context our I as and best related to of please others Elite. the am you seen yet, your take going I Also, numbers. the on of sites. give the of to key my and parts some overnight comments those questions from or of financials address and through Questions copy questions in and some other one

sold were ordering their Earlier same additional most centers, Decrease product the it’s year for million that and while quarter, stop product revenues. our levels We let September increased last XXXX the product were Naltrexone. and significantly and stock this the XX%. helped for year’s increase contract would compared of P&L, So volumes, manufacturing reduce. from first off which Last in with $X.X us our for comes they informed not to of ordering million two the million, customers start until manufacture their contract XXXX they were in revenues situation customer so existing stocks. customer. year that’s an order They $X.X that this drive overstocked XX, around that’s be decrease one September quarter year for $X.X profit

their are this orders now for the contributing to revenues, to be orders manufacturing on our caused but them corrected product came receiving to have now we they The future error product overstock these it Now that too them. much quarterly we have situation, inventories to manufacture and they late this have be financials. effect aware will want resumed and

the guy, especially that I a pursuing, we in we manufacturing have profits, line mentioned that But especially finance from I’m not of case, focus as happy doesn’t segment since business that’s capacity as pipeline to still and development. can this generate and it and operations. being do our we are capacity a is goals take it with contract Now other actively to is our anytime past a on utilize resources the service and revenues have away

naturally I or line. manufacturing on coming back So am revenues happy seeing these see contract to revenues the

by other to The with a marketing very agreement month that’s isn’t an product a TAGI. this situation last and demand rather revenues under Naltrexone, but market sold and related owned manufactured Elite and strong product just and down ones to due which year compared overstocked decreased is competition, year. is to our few This a being

Naltrexone to expensive In therefore, a less costs revenues, our greater topline addition, some on product expensive compared products. ingredient of due as other Naltrexone decreases is being would high. an increases in effect The volumes, or to have

trend we since Naltrexone more in But, again, this have September pickup we upswing, and contributing quarter was upswing this orders financials, too expect and the now affect for Naltrexone Naltrexone recently, are making to to seen the but a continue. we more late September. selling Now is

against in product important an opioid addiction. is Naltrexone the fight remember Now

We overall are are cost to we product addiction. to the opioid as and this committed

P&L, R&D minus let’s profit to gross cost does is gross look sales the not line. Remember which the equal at it revenues or down profit expenses. Moving and of operating include

XXXX profit last $X for a it year. year was comparable this So the for million $XXX,XXX September the and was gross the quarter, quarter

large plays So are role we here. higher its when and Naltrexone Like products. naturally from earned compared to expensive prices a an its lower sales ingredients is a Naltrexone again higher I our other revenues. gross said, expensive product, profit Once

costs. a means also So in Naltrexone decline in decline sales Naltrexone

just are after hit, fact Naltrexone sold mix expensive of was taken to money other profitable sold becomes materials. goods as revenue, taking revenues also it less products Less take with cost In are that but less also into it regards profitable performing Add by that addition not saving and are consideration. costs to well more product that are products hit. topline optimal more are the topline that actually buying to overall manufacturing and we means less Naltrexone bigger that our means these clear revenue while

P&L, which quarter, this expenses, to as September were $X.X for we XXXX the Now $X.X moving to R&D down million compared the million come quarter.

it’s few it well. what more done Now this questions usually on rather important just focusing than When I to is to R&D, on at numbers. look the being stressed as the that comes

an like a result the less dive this in limiting I is as with particular the different have the quarter expensive conducted quarter R&D activities have activities of the expense, timing are composition clinical briefly deeper such could in example, done Better of different levels cost would into past, and case both may my have here these trial, on center. to I little comments being valuable financials. costly products, as the but many while For just

used are costs Internal our fees, clinical our factor. paid various raw of and R&D for are internal. trials, resources R&D, own all, own costs other External costs external costs to third-parties. or lab our First either regulatory materials own employees, consist of

we This XXXX. we have technicians quarter more more to chemist, as compared on formulators, working have more product development

takeaway. product development resources also to dedicating factory quarter. lab should People XXXX to September the then an attention and important more this. are is pay We in were we This

progress. record We ANDA and development this is of staff, more to products agreement and This added great activities. development, product other don’t decreased lot quickly SunGen shift studies Being and of have formal release a have certain we Oxycodone level badges the and for have with same generic volumes We commercial commercial had we in out made and and increased Last into the record we ability lab with and product more additional filed product quarter. products needed. were more development time year larger product to when extended like nimble that strength focused strength. and resources turning development volumes co-development of internal this -- more year R&D hired analysis a as companies near we

product that more since still I case. level have Just activity and development stepped and through our up way the years development ago R&D than call the pipeline. greater is mass I most of as now On our Elite our important, activities I’m seeing joined we this a working its eight last mentioned

million $X.X XXst million XX, XXXX, the as onto million on balance warrants $X.X get fiscal XXXX, at year where I Now sheet, at March was our inventory, and the questions which some September of $X.X XX, compares inventory, that beginning June of mezzanine with equity, first, year. and this the

includes, a is quite bit inventory. which used not materials Our inventory of product in future commercial current and just development, decreasing being

of are no shelf expensive also it Some expiration all R&D There issue to most life consume year. our before the expect our adequate end we of and inventory activities in materials of --in is these dates. fiscal have with

as J mezzanine Series sheet. warrant recorded our which preferred Next and is equity liabilities the on stock, the balance

neither by note a of the Series Elite. J payment will that warrants please the require cash First ever all, or

cash under even Elite warrants In receiving could the fact that result in certain circumstances.

in will are years whether share J and cash cause redeem per as related for Park and that convertible or our financials the and -- not many said, not do decreases they at converted. sell cannot J I sold convert drop The ELTP at per ratchet, they Lincoln XX number regardless or a price shares and a Series shares recent exempt full preferred affected Lincoln Lincoln warrants. to which Elite shares increases which XX any sells also the payment Park any and price also, have Series Please in in for get and the to want price by ratchet. in and not and does is are three to and warrants Park, minimum that transactions, to just are to Series Notes of the of another defined price. a be warrants not retire transactions change share make J a the Secondly, or share from can no by per meaning ratchet ratchet these of affected of the or caused and of cause but is ratchet shares note I in Lincoln are Park. technical and or our by price there are to The in warrants exempt shares details, factors risks to never see not Lincoln Park there shares our the no not

to and improvements in operating test disclosed, remediate happy that to last had the am the Finally, demonstrate over XXX previously we our the to material In control we which really controls complex effectiveness, reporting internal current must time, laws answer. questions effectively on It’s that first ensure were Once Sarbanes-Oxley I were company’s continually to relate existed enabled existing this for as environment financial got able reporting. us in are weaknesses achieving year financial and effectiveness was our intended. Sarbanes-Oxley and controls made and over but controls, actually and the controls significant we these subject to the effective. internal brief I maintain systems our control which successfully of Section compliance. a of to internal demonstrate

order monitor and included for financial We internal which it’s test XX-Q our that So effective. project. management filed our in yesterday, to this assertion, controls is reporting make over controls continually our in a the never-ending

and happen. future hard this that worked of our component environment control internal Sarbanes this and an listing. compliance is for are listing. on NASDAQ important must will keeps and remained in compliance, compliance absolutely ensuring that we improving We have achieving We vigilant initial our So that

noticed all well to compliance Sarbanes, with and regards it’s then is do Sarbanes Elite appreciate to that and I important and So someone question. asked

Chairman update would comments. Nasrat and to give and Hakim, like an his Chief our Mr. Executive Officer, Now

Nasrat Hakim

Thank you you, And and thank gentlemen. Carter. ladies

calls, projects many are categories phone R&D I SequestOx and letter, of answer inquiries, sent the them, status the you of and the via warning the and pending the have same marketing. questions facility group we the sales and because and pending email You ANDAs,

due with of a expected financials, revenues. tax lower before our contract me first we our that Let basically we say word situation about manufacturers, one are to

in Now February and believe quarter which better improving results. the reported will current that I of contain see be signs financials will

repeat top Let’s technology. SequestOx let though is several IMS talk priority SequestOx, of we have ANDAs today and for Elite, me for that products, remains market priority SequestOx a Even pending and Elite’s SequestOx Elite. have pending a potential R and data larger top

results. vitro countless positive spent have in We hours with on experimentation,

expensive. we confidence we on SequestOx will high a We and forward results of are have BE in when money spend degree have positive BE Fed vitro. will path discuss that These

Once reconsider highest preference of may the right is, issue the back issue ranking appeal June. technology ask We some and are track. If in move we labeling to we into to at our scientifically the another into BE we would I rushing will step. experimentation we we to labeling the we decision them in get vitro resolve see Elite the if My to next waiver. we are other person is the even this not of go resolve this and can, have time. can and FDA we could SequestOx before FDA like options on to kind conclude solid. order

at in presented was technology in conferences most management Texas Vegas. and recently pain Our

are It simply labeling reason to we on products our will it never labeling and then If to candidates. other another sticking are Hydromorphone allow The Fed anti-abuse us SequestOx. resolve properties FDA with is we technology. will philosophy. the Our IR door been get why Hydrocodone, for issue overcome is we work to undeniable. our has technology, with are issue open with R FDA Oxymorphone SequestOx us that This with the

lucrative anti-abuse have OxyCoton OxyCoton There not and a for generic ER. most product we Regarding fight the launched. tablet We release capsule because Oxy formulations, is been extended the can. Pfizer’s that is

exclusivity because are addition one exclusivity, yet, product through cannot launch, the product street. We freeze it and of year after have in that. they the they while we Pfizer’s for not As can file have they cannot we have market they

and without they you they of it’s it, you send assessment, an we review bosses FDA write report, have to their center, the process. We of they not to order cannot launch back warning letter goes We our However, we Pfizer we study XXXX. first XXXX. since the It filing response the steps warning Elite an and August had us to just one. ours another send we This compare have launched. they on time. BE for not just profile in see all launch took file Facility as FDA next times, meeting pharmacovigilance create in we are till the our have the cannot inspector conduct hope letter, to They to they cannot submit and to application, their less. within of we to to issue need several and an the their compliance application. and need XXXX, and we stockholders XX and days conducted the updated compliant XX received a we that for necessary closeout to have get in of or actions. April through letter. concerns adequacy process. thing process of for corrective them three then one their sent of it corrective cannot also all inspectors is more issue an their verify that go FDA. The I check Once left the this adequately, observations have FDA they onsite do Elite inspection their going inspector confirm regarding actions through to ago, to only the expedite force that issued that submitted don’t, Seven-month go no months pharmacovigilance. FDA I the letter, therefore, investigator, and to issues are they is have unseasonable and to our they address days appropriate in is to FDA FDA anything. conclude to is and Again, warning to of evaluate their that The office, before concluded

We with regularly. have them communicated

them can Followed there thing to follow-up by when exploit no conducted have else they more in is this, ask and write us is order in a answer anything and We contacted and GMP inspection. do the regarding full we awhile. to the this inspection They FDA to have inspected APAP letter the and it, APAP. of always FDA, the a April, a One also conducted issued inspection is preapproval that for two items preapproval they the observations. here for a for the last for follow-up two and At warning conclusion free, Hydro were they Oxy inspection, and a inspection weight.

is June received site months or in to We filed no this that on approval applications has indicated we year the action CBE-XX three We for received couple facility this late letters voluntary facility CBE-XXs September. are several in CBE-XXs holds Isradipine XXXX Compare were approvals these Our okay. in with and recently we approval. letter in filed got of in anything September. got file. VAI, any filed and been approval we and in for filed just We FDA. But and September too, we transfer we got within June

The of no warning not with inspection the their if status affect FDA. there and with issue you being we database. So of is facility website, did FDA that are in letter the look the at site, is the progress pharmacovigilance in VAI the GMP resolve

this to-date. Let me try pending into our applications

host filed four a a range A, requirements sent and to non-disclosed they We analysis which answer things. single Provide a micro us commitment XXXX. us have of Late questions letter testing defined that for APAP that Hydro FDA last filed OXY FDA’s more the APAP, specific the response undisclosed for a of We letter couple to question inquiry on next We about response the hardly received the additional OXY yesterday we file make you our the things. comply them. APAP, Hydro the hopefully the the ANDAs, did. APAP will ANDA months. within complete will has to The with gave days ER. does We FDA law from, and We a in exactly asking and asked become We the just night. of response complete p.m. response want. what did. can the XX elemental did. Oxy certain application Do

We not Oxy have yet received on ER. any inquiries

things put perspective you. in to Just for

During and in December of in QX file we prepare of this application to file having to this will to the SunGen addition year. year,

addition the for have In we FDA Oxy to to that, to response APAP.

couple especially or we specific XX responding a all respond undisclosed, okay. days responding for APAP this to of are give line, the of our back in are get and on that’s FDA the Hydro staff you within months, huge for when time you the burden We in are the

doing this is in bit So lot been why work a to FDA. here a takes response excellent. our put the it time it of pipeline, and and we SunGen to R&D little has partnership with of are sent together

products have them. We of with a active lot

We fast our filing and our as go ANDA ANDAs really and several alone, development. are and look year. under about very three first next to forward and are marketing, and forward either vision There this common for can it for month Sales is strategy year, excited filing together next more marketing. We marketing okay. sales sales

you that an that going capital you them alone with paid don’t profit. these pay the problem making the or working the is you becomes all cost all are Amicus issue. For to as all sending products of When (XX:XX) Cardinell But and but keep the quantities get immediately. you [ph] it of large

working marketing of of At own the that’s you the sent takes seeing to and tell you have you millions a and product. it lot year XX-month called then you So that and end later don’t several money to of and after the and it about that is money spend the months cost start to team. and of disadvantage takes products capital. somebody more having you the the during months manufacturing finished, that make you and That sales your they and dollars employees of your before appeals, making nine-month

of for it’s cash not that Now a companies have then a problem. lot

we need that us to For about think stuff.

advantages So but has things going really it are that I to as think about. alone there need

it we XX Epic a them with TAGI. now. as one Dr. soon with capital, partner, TAGI get launch or pay products could good or we Reddy’s several so. or as have working is products with current the we us a and since is days Second, partner we helps approval having transfer product a right TAGI whether of price they within That because our

So to burden. to disadvantage we don’t share is you the a of have get to this some TAGI. profit The with carry that

have makes their our you sense joint venture products because they a away have And own and So plus we of have a it for lot both with together, get us own. discuss out. finally, to SunGen we

can So working that is All could be also it capital There possible. still the both. over issue work. are ideas with and divided maybe

have It vision little for decision made the the sales be yet. a preliminary you the that’s study We But definitely needs further. and not about. several asked marketing final to

allegations the sent for you product in you I belonging, I that an impressed. am Mr. caught some received eye else XX do and much me have questions been am unofficial we say have, that’s said We some before that. or from to Thank analyst I has to okay. as cover sent (XX:XX) five be on to and so email and going to Doug like making them. several will about regarding Elite -- is I have email something as Elite’s But $X.XX, Hugh stock very who it that, that I that. I people nothing of it Dianne Dianne, my very read And [ph] Elite’s actually

with versus land, make get for that company if wanted for have be will to raise someone to a financial, stagnant, can company R&D, on depend company our solid because us but us We revenues be lay doesn’t mediocrity. reason are going money settling revenue, everything and the we expand to and actually going viable we pleased only out to NASDAQ, be that’s only we excited there a is anybody dollar not to doesn’t to

so through morning is right, a what be All in years. time me. I dollar will of questions, the and said, we gave will this with NASDAQ couple the of go get them that some will and I small, Dianne extremely doing around as to patience get few print of couple land years and are within continue we the going We we do are

this series $X.XXX with one initial is the and Go has start I about ahead, adjusted me think that, subsequent answer it still actually price exercise Series has convertible Carter. been Let activity. the or to are is J first price of

Carter Ward

Right. I of There shares. so another something comment of was I ratchet playing am Okay. anything this similar million that. got kind a to XXX

is and Nasrat that of think, none correct. I

on number I presentation was by is in have J my the which the in same. any shares There That touched million think the will has well. are change. conversion exact as number, for still over this not same change. exchange I Park $XX.XX just the a are of same Series way converted that It is from Nasrat the exempt these not returns company XXX shares, price Lincoln to the shares. That transactions ratchets. into preferred

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by possible, not the same. all not the says documents, it’s so So permitted of that

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Nasrat Hakim

this Carter Thank and saying now am, Carter. Okay. okay. into I you, start buying shares

Okay, launch. to if approval, to from approval Next and one having and material so question to to the from approved, revenues the company? get the raw to most the time a to don’t done to to we materials, manufacturing the manufacturing, what you is get we for to packaging, broker have maybe timeline shipping, is, actually thing said the material The control much three three really quota, if one pretty submit whole months, of have need the enough months within of be can okay. substances, packaging, for successfully we product

about go which be back be established product follow. that’s you as it’s earlier, current approve I -- we it. the are to to first? a the company of we same what about, revenues partner with selection one If we model capital. issue with pursue of can product thing, that it it of see we of to TAGI priorities the which take working faster. intent regard method that on how have going ways you talking If go for was what your exactly, approve. the and first the one And why will promoted than go will to alone, What to I Now the longer the depends get will talked really these distribution, be They then which three the pursue will it I distributed? such

vitro never rating FDA. revisiting What is your give our Oxy definitely plan for APAP, as time approval it on resolve and a we Exactly they last us working the as it, we have be submitted it’s to saw -- talked they the about, for people issue path we So so forward going for SequestOx? to am things no what and product we vivo I stuff with line the but improvement enough, us wasn’t to I whatever with there approve move FDA the is soon first. green not thinking with reason okay.

paying focus product? The very move of public. the published joint time demanding next in are like the is we expenses more to looks SunGen already. this close. We the and the step data incur a am development it for currently So and we substantial it I agreement before Is

So development that of the really pay which okay. formulation and a our the totally a methods hold for our product stuff. of is is good there there that there part that stake of two a is is they on because part for is and and facility pay And together, that their all which the we of

Carter Ward

Christopher?

Nasrat Hakim

okay. yeah, Christopher, Yes,

It still it its issue? need It this address The anybody. one been is What this has done be over effect. letter the in answer but no is, is year no. see, effect? don’t outside to first We from to despite consult warning XXXX needs year. has you Let warning letter, still need in do

and up vision. this not, matter am cannot earlier, it. a of that be come her website? was I will people I issuing the it As that other the ask picture my has this we the are complaint there the than come with on said, sure joined approval. what instead back got A much. just warehouse. will we hey, in a were and since And and of me telling give And pretty also I to the had that opinion, involve simple I August to time. to suite new of the and will step ‘XX, company filing but the and an a through us confident late have FDA a other get I the go It’s lot you nothing I be issues that am to being back the the okay. do get we so done. day add other have least you warning as time, address would in need Dianne new we letter some in between go are also not, anything we they no that, FDA few warning letter not the facility and to pharmacovigilance inspection FDA surprised. on had peak it getting the here next still only will they else our of was complaint, -- never distance, mentioned have personal the warning of that’s and working ask is and Can deal, of else at we auditors. order and to very us renovated I an and I the than us addressed. XXXX FDA since to go I for, and are If asked divisions okay. XXXX, think FDA are some center conforming The If to -- show felt post posted inspection big issues and notice sign and in is was to lab I sensational have what decency, that through manufacturing have the letter okay. I XXX their coming

We line packaging the packaging have nice well, also line very state-of-the-art. second as

them. to pictures post definitely need that. to take we do some We and need So

Carter Ward

fact. Yes. They pictures taking are matter a today as

Nasrat Hakim

Excellent.

Carter Ward

We been up have imagine. today, shortly would here be our should so that I cameraman

Nasrat Hakim

you. Thank Excellent.

couple will we see, more Let take questions.

was testing. me meal this were juice. first one quite prior Tmax and the we cheese, confident yogurt Actually, not on -- knew fastest What on we a little if sprinkled First, We the fed and to ran second a let and did ate extremely on orange better thought not everything. a than second applesauce study the BE did goes cream transfer our few was it I and we (XX:XX) why And a given bagel was happened? [inaudible] formulation issues so your it spread bread. study accurate, we and We studies, elaborate. SequestOX where actual Cmax the away. to you run where the study formulated prior that people and applesauce work that’s it

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So on we the working and issue FDA like would fix to it. the Fed us are

to a there. Congress, FDA, President, from is need petitioned okay. hopefully happening are we anti-abuse, our in is about product this and they is viable is due what where we the right product the before. happened This coming to have them, now. So go months our Considering we FDA will for from scientifically we the this what’s and how country issue see doing to will talking solve what if And few nation, everybody within not we

science, instead through, FDA without Again take to something not certain else my and you the take months the problem hopefully going You work have us. take we can with but meal, meal over do ibuprofen if with next it this certain or okay. label of okay. get few or are you And it will preference is solve to solve this

in for SequestOx IR us company for me Oxy use believe we use not I have is market. need they a go for need go launched and that’s got to them lunch to it to post did help other SequestOx trial that. time respect me We after our formulations, need what I R okay, us the plan, and approval, deterrent said. we think you Carter R platform All Oxy ER. you as formulations me What abuse do them standpoint, go proceed company where did goes, activities Absolutely, this fits did okay. well, subjecting is to aside Oxy I the still focused about the Pfizer other through traditional these from the solve deterrent will and same the us to your SequestOx the -- IRs when for IRs, we will help IR. business been platform? approach resolve yet, that have as (XX:XX), it then to clinical this issue -- patented go abuse not did And to present as ahead technology biggest that recent have bunch, for formulation with does the into for IR to Elite make With to ER, the from still are products. and Can an on even I they not -- and it issue, other of understand year insane issue can has have not what and to SequestOx. not of [inaudible] make way to

not Elite, is are core we So okay. still or of that abandon the

putting am alone. I eggs are just our one all about We talked and is this smart. basket all in being I what not

are to we release, issue SunGen making is us. R we order in described on before, continue filed where in okay. money, Pfizer so the OxyCoton they everybody we the and they producing, want we have are making to fund after them more can share One, And with with and didn’t And stay but later But to get we for launching. products we of hopefully have third the have, are not baskets. can have at extended that, and bucket technology. had we R the we play. alive, three our us this that have the we with that technology markets because and FDA second, partnering least We all somebody why, have formulation and patents, running to though patents even have want else also

helping baskets product and These also with succeed, Finally, on okay. to is and -- and forward viable traditional end need what to only behind thrive for on diversify. they these Thank for you, I call. of and and is talking only go you and succeed but to and all okay, your but smart land three us support, NASDAQ described, Thank the are Well, The to be following dollar is am hoping this good the into will the all and to really the get this updates us product, up current survived filing not interest of to try get of in up basket Myles. you the strategy strategy us above, we file again will this we ANDA. to and really concludes them look February. to these I one continuing NASDAQ,

End of Q&A

call. Thank you, ladies and gentlemen. This does conclude today’s conference

your Thank and at participation. your for you a this time disconnect wonderful may have lines phone You day.

Elite Pharmaceuticals (ELTP) 11 Nov 172018 Q2 Earnings call transcript