ELTP - Earnings call transcript Q3 2025 | Elite Pharmaceuticals, Inc.

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Operator

Good morning, ladies and gentlemen, and welcome to the Elite Pharmaceuticals conference call. [Operator Instructions]

Before management begins speaking, the conference has the following statements. Elite would like to remind listeners that remarks made during this call may contain forward-looking statements that involve risks and uncertainties that are subject to change at any time, including but not limited to, statements about Elite's expectations regarding forward operating results.

Forward-looking statements are made pursuant to the safe harbor provisions of the federal securities laws and represent management's current expectations. materially. differ may results Actual Elite disclaims statements, revise forward-looking update obligation as required to except or by its any law. SEC Elite More complete be with Elite's reports can elitepharma.com section. under and risks available the the website files Investor at information regarding found forward-looking in statements, which on is Relations uncertainties the these Elite review documents encourages you carefully. to

the President the floor Elite your host, to that it now is over of covered, yours. Officer my Nasrat is floor and Hakim, With Pharmaceuticals. Executive Sir, pleasure to turn Chief Mr.

Nasrat Hakim

you, And happy Valentine's joining Thank ladies earnings is Elite's everybody. and My our for is am Nasrat call. today. Day, you Chairman morning, Matthew. This And and Hakim. I gentlemen, good and us CEO. name thank

the and after an to the CFO, give you some I'll answer Diane. company's have financials, that will Carter Mr. summary Our Ward, you've update which, floor. the give of questions us you submitted Ward, of a

Carter Ward

Yesterday, our the our Nasrat. XX-Q. you, ending filed for XXXX. year XX, fiscal It's we Thank of quarter third March

our on under section. our Relations XXXX. the Investor quarter website, It's available ended So elitepharma.com December XX, third

it haven't copy. If seen you get please yet, a

presentation financial I well. I And in I'm always provide the to context throughout as give those questions and to As answers can you of to my color my I going and presentation, questions lot into received some weave a some overnight do, statements. I'll best as

among $XX.X quarter. X% other to shipments, million. end Let's start It's compares were or a million with into that December X the you in $X.X week, December middle decrease the due of people those happened the was a shipments the customers, January the at on decrease. and New delay That quarter weeks for remember, since a revenues P&L. to off. of guys took of revenues Many lot million delayed Year's of the most a for Total factors, $XX.X quarter. if There they the for Christmas, in holiday, impacted the Wednesday XXXX

customers, to in shipments don't trucks, process. in they want waiting Our sitting be received

on back just until have in strength we was January. them to a to everyone So full instead, hold few days later at

of say been the which I past which the I'm of the about full January, our X launch early were the lines, have of in instead were And before products been market, excess have share. is in we which as our the nice have is for well included talking later. when Generic But is volumes shipments delayed thing we're of well to would that same they commercial reason. product other important have selling It the days substantial, delays. a all not shipped, years, few December Vyvanse. combined. were Now those were this on were Adderalls, But These also some the gaining of most lisdexamphetamine, XX delayed until delay they're the they shipped that generic especially just

through our that's was I quarter? shipped in a did And to in ship shipped launch, distribution the question December the included on not center when this quarter, -- were in December, that we we the Vyvanse revenue Just company. -- was revenues so get we Ohio.

deliver Our earned to products revenue customer. it's regards most when when to it's of when with and is is is recorded our we earned the

on So I questions have recognition. other revenue

first the were week financials, were those of December but So included they January. in not in volumes delivered

inventory balance $X look that sheet, more you'll our quarter. increased during million you if our at see So than this

were received, were and to a should warehouse, $XX give in in December from of were. ship quarter ready you XX. sitting that pallet September few a $XX our after That there. in million to the went orders the They visual they good shipments million days They So stage, end.

February with a just reported. is regards XXXX of we the January our similar that The fact, January quarter said, tracking was And margin fashion. ever I fashion. a as as and best tracking entire almost shipments, in much contribution as In was January similar to in month also revenues, is

did the $XX.X you So year-to-date revenue what it get about without like. a will On this have year. of delay? million. questions idea Well, like last compared $XX That's would some some revenues X-month would been be asking give the basis, what a I to are million

year, compared a So did million. months, we year this quarter last as to we're for million go. the have that's million, increase, Last above already to on year, $XX year-to-date a This whole XX% year, all year. $XX still $XX.X XX

the thing, contribution that do far. include and they so another the levels February highest January our not year, which So to has -- X-month taken numbers a this note Lisdex from revenues

it's number to year's say last record So been revenue already eclipsed. has safe that

R&D up the is quarter. R&D I'll $X.X address I've December $X.X down was of There is R&D concerned, expense P&L of Lisdex presentation for Moving company. the December XXXX of Both and million launch, in is statement. and years two XX% are the up XX%, generic I the made, is said, any quarter. expense of every far probably We each as is as G&A million up compared the lifeblood pharmaceutical G&A had just which one, XXXX making. to R&D successful as ever them a

a submitting, product It's takes formulating, for now testing, overnight, launch X getting You It what that's just it overnight. the doesn't years of we're happen quite while, future approval. developing, doing products. don't just

continuous several of to ensure money future, there's flow we deck, in we're with years, So X next the which ago. the X just to began now as years we did products the that in follow-on Lisdex spending a

But requires be are Well, now GAAP we but them future detail. revenues future more these future expense from incur products, Nasrat rule we accounting profits. obviously in the future, perspective, costs and result products, more a will we're what the expectations when successful finance doing product in in just that discuss developments will

factors play. regards increase a at So to couple the with G&A there's costs, in of

we up, for a do that FDA, more few more hire alphabet agencies, compliance more. And are the costs consultants compliance. expensive, fees The had to for need comply. increasing. and to more is with one been have headcounts of DEA, we have to costs regulatory costs also Compliance First, SEC, we everything everything the

factor in And second temporary the factor XXXX in increase, days it ago only is temporary and ended. that one And week, was second -- last has a couple just and the that's at that actually. a XXX the validated The facility one. that's constructed G&A of a was Ludlow but approved

approved, the that asset, it's as operational deal thanks Now a part is is it our from of approval. an perspective. this both and manufacturing in big overhead facility not This packaging becomes assets, the XXX financial well as to

extra is until some what what is of was on it new lot than fast. warehouse is this that We business need plus questions in the especially tremendous adding this increasing a going we and new space packaging facility bottleneck clarifying needed now up space of more capacity. It's use. our facility, can to so going packaging our we're now, which increase this got before we double capacity, were do? We running space I to out in

a longer that's of our them standpoint, overheads. deal. with operational, match our product part costs, part it's can our It's I it's COGS, now part these So finance no revenues. and a our cost, of of big G&A From

few portion least of got it G&A days in the was when approval. that overheads go we away and temporary of ago will that at increase the a So as

X-week in as sitting the doesn't P&L balance the strengthen. Looking much We're does to balance inventories at the since as sheet. delay shipments to working affect capital. the The they're in They're there, continuing ready it sheet are go.

the minus beginning current -- current It is assets working and continues of now liabilities, which fiscal $XX the Our of million as capital, year increase. to working million capital XXXX. $XX the XX, at year, our December it's was

period. also September increase up as almost million that's the over or So well. $X since It's a X-month $X.X XX% million

and Now in long-term to strong to debt continues low, is capital, working and our it addition decrease. growing

$X.X is in were long-term the from liabilities year here they at takeaway our million at capital were that increase year. $X.X cash than efficient working long-term the debt. is fiscal million. nonderivative and operations -- of The from and XX, not profits the beginning December And less resulting Our

a The our $X in capital for I it's actually own working cash of a excess million, in We is did the money question the fund our And funded that Lisdex flow, did launch? borrow we million. to investment new launches, over little Lisdex alone $X the working no. capital. is own asking get have to answer from

working some capital paying capital we time. So capital. increasing working Elite, the at from debt, not. do companies get long-term we At same working debt, refund we're down and long-term own do We're our

So those see. are to want things you two

that solid our What couple answer. capital clean and capital structure had to I'll other clean. Our I up a plans of our is actually very questions structure? very are

in everything almost have common We stock.

preferreds. We have do have no warrants. some We

no We covenants. have onerous

almost as is be. structure as capital So this possibly can anything clean

So concerned. good far as as that's we're looking really

we first of come on question in the fiscal next amounts, year. which be promissory they are They're the of year. due, pay fiscal the due year, those XXXX will notes are and that the million be our I XX. XX, the Hakim will will paid actually the end March and Caskey $X plans quarter the when those of a the March totaled fiscal fiscal which ends on got in year QX due Remember, at

really. future lease things perspective? this up from So signed? sum new in Florida was the Elite one tax in question other Will to Not -- benefit a

taxes Florida we are all, where really corporate income of a the income based upon tax, our income and ship but our state First taxes. operations has

that We in. to have multiple file have we states

Florida of where on our of apply having upon So of situation, complex. state that upon it's an nexus But concepts quite based taxable much ship and really our an shipments. is have office there's impact all it depending really these we doesn't in

one phase So will things little stronger, Nasrat positioned the which into they our in extremely the have our and more I'm that of are never detail. well been sure is for to next Elite financials reasons go up, strategic sum plan, of a

him, like Mr. I'd and President, introduce So our Hakim. CEO now Nasrat to

Nasrat Hakim

as In Carter. or third important? true. And a lower this mean the the quarter, January, profits entire a reverse third continue. single about as Why to not more Elite's profits the The January $XX.X made Thank entire is in stated, revenues, trend almost It's is That's were made as the the quarter. because that were the than going that's it of in much you, unaudited that, in million. were month important quarter. Carter is revenues does

and in one that down. out will are that will, set Just January sales point on the not, revenues space saying context event mean everybody not going saying jumping because in quarter a was a just trend in one very high. not I'm That and I'm are will continue. the of does it trend time it doesn't

industry not well the sales and in Amphetamine leader IR be Our will in in and as is are still ER, going Lisdex. down. Elite we

don't I'm that happened going that best has X trend, third quarters at about ever. pull your is make space look The put "Oh, the calculators That not that a what totality -- is caution your happening advantageous to when fourth then take I financial the out and second time. in still, a X hearts thing is what said grow, and Elite. to not QX and flavor to in just we by is Elite the $XX.X you or to in at ease we're its point million". a multiplied said, is Elite position the that. continues it's and about giving of want We're you saying January to what say, quarter of January,

last certain fiscal of $XX.X includes year. Revenues Let's million, rising quarters compare grew is to period effects last look physical XX% revenue our the year a entered for another was X for XX% The year. last March and time and which quarter-over-quarter the growth Operating last is uncertainties. the same year last period at year. is our is year-to-date $X.X period. for over on when comparison which over record X the same that. million, from to Elite the the income is It quarters quarters target fiscal better growth X

They 'XX. fiscal million trend to go fiscal in 'XX million year. million, for before, don't even -- million a that went started and a in 'XX our up As want starting $XX went annual reminder, to were $XX I years $X.X couple up $XX million of to $XX past in revenue last

XXXX, from But comfortably be year. the record and Elite remaining of XXs we're year $XX what at this happens. going last is the be there over new and another X stop continue fiscal launch of our for to I'm revenues. we not quarter the year bold to Lisdexamphetamine trend going million. and heading already we this certain and still to throughout that range too say going through. Now no going will to way am a for $XX year hit million is to quarters, We're and have skip XXs booked. with other come I projection sales do are is over to and we'll we see here products. expect I not hit

that Enough about big the and making financials our stockholders said reiterating fateful understand and sure what Carter picture. true

You want. is and stocks, just can can we do where you. sell the buy rest up to stock, you to can of outline you you stand you is job it My whatever for

In sales as system January center. in The deficit to customers. launched recent because was when distribution, December revenue annual XX. $X a product report went Elite's we the It's to everything central That's disorder. being of launches you and distribution The movement The Vyvanse. to nervous that's IQVIA started moved when Lisdexamphetamine. in stimulus name, know, generic sales The booked the most is goods actual treat the included over used product. brand of attention this for billion

seen level in interest have from We consumers higher Vyvanse. of a

Now other a matter the of it's we're primary sales. in And is but good of shape a there. product focus in quota this now complicated launching things, very our and

contributor do Lisdex well and going growth be to expect a forward. Elite's key We to

The launched Q&A million. during opioids. of is say with we few status brand data IQVIA and the is opioids $XXX and Next, And words the a will in APAP. more of sale generic December. opioids I We that for Norco. launched product the about it hydrocodone name

Tylenol October. available sales. to with launched IQVIA APAP, is shortage, used no longer annual Methotrexate $XX This the and on Codeine is Generic in Generic brand now. product The readily report on $XX of name over IQVIA Codeine launched million sales annual The million. with August. -- report of about it's it's be

the will that generic Oxy/APAP, Percocet the coming be and few in products months, Methadone. Additional for next

price, getting schedule and For product Vyvanse that to everyone is to we when that's of of market the had which every till a our got a to the weeks understand, X we to X all consuming is time.

important, Amphetamine backseat. products what my worked Oxy will comments is products and being the So ER on dates the be focused the not Amphetamine now at least are took and rescheduled X priority will for a Vyvanse They we These later. address in IR, launches and top are X other on. I just for and

Adderall which sales important of IR, million; to has date and for annual $XXX IQVIA most has Elite The XR, up Adderall product annual been has over generic which reported of the IQVIA sales $XXX million.

a strong We in for we these market continue to demand for see products, and these good shape very products. are

-- commenced the in is Elite And one and the sales sales big top market XX% Elite IQVIA are, our IR. them of of out ER. you leaders bigger market at lists X Elite and ER, yet how understand how for than past share for we of the for through Amphetamine the players through XX%, Amphetamine are XX% XXX IR year for they some are there many of times that the Prasco

little unbelievable is and achievement, space a in an For not single it company and that is event time. a small

proven again for We time X past it and have the time years.

and smaller Elite Trimipramine also has maintained strong them. X Phendimetrazine that but a all are market Isradipine, we share of in products,

they price have the also IR yet will partner, except not product, later launch us Israel, technicalities. labeling are their labeling. last have overseas, Elite this Minister of they selling it profit will is by and package them provide product in sharing. guess to pay probably They product of are distribution sell We be through They going Arabic, toward end year, They because They for that own they Israel. Hebrew, in that. as the they go still will have will under will them from and it. launched to under have English this -- and of exclusively launch we'll through will through approval name. that and on soon label October with QX. complicated Amphetamine continue marketing our Dexcel we working In manufacture and sell okay? we'll the the sales, transfer got okay? products all Health. contracted our They going a we're our with we finish Israeli My the Dexcel to the And as

XX. licensees, do ends who Amphetamine ER that has Currently, and Burel have ER Prasco a after we has at nonexclusive X though, XX, Prasco, Amphetamine for XXXX. label Prasco okay? selling license March the March under Pharmaceutical been and

label. expire their They exclusively Elite will their sell and TAGI Naltrexone and precision our name will However, our label license under dose Elite has well. precision labels, under products these exclusively and who sell under as in Phentermine. ER a Amphetamine for dose sell will and our license A September generic

now. have course, This ER Paragraph is Under we right of IV filing. a name, brand ANDAs Generic OxyContin. development, X is Oxycodone whose

And and patents the on and need to and Purdue's we -- the prior of last approval on and move The conference and for call last the or on discussed commercialization. patent remaining product so the as phone paragraph in we depends remain both the lawsuits next stay call the court's settlement Purdue it decision. is product

work in dirty and the start too with So if ask cycle handle we're the March. minimize going the X And is another cost will hopefully, wait by to everybody in highly lawsuit, they again. It money. the Purdue it. to else But Supreme all let will we over results we something is We the is do, don't do all that the be most somebody share reject the on. will and later know come weeks to on they'll likely of Court the the likely writ to involved and Court of They take claim infringing that. trying the about Supreme up Purdue If and called to will patent not regardless, certiorari. they for appear end see to

We under keeps answering. have still of active FDA. generic dopamine by a It review treatment is FDA. under for by questions, and asking a agonist FDA ANDA keep we Parkinson's review

update of X we these once you products. let get either and we know you So approval for will

Goose, Elite on of company we and priority. going lot of all and is Between Amphetamine money a that sales make now the IR of departments continue reality Golden lab and a of something the clean has to R&D on a we're also R&D which that on. spending over, products lots make But by delays small process ER to lot and make other Vyvanse. small pressure R&D. and of the a there, stop the Isradipine and have We're the equipment, bariatrics and launching The the us other is the the equipment, flip weeks.

has R&D for like fast So is lightning as lightning moving to. at not us. moving fast been not at would as speed but It's enough Elite's I speed,

the So contracting I we with have work been R&D looking if to companies can outside. do of see some and

it of to the and conference us we call. there, and that accelerate from work see is hopefully get to I to going fashion fact, us In I But do will but just time that very next we by don't options help India materialize how you, that the important best companies in returned explored the could of a we is because some have our in could really several commercialization If at this doing of where R&D program. one we meaningful something our update out. Elite, balance financially we

nearly and our nearly a saying ready XX,XXX reason. infrastructure, the expansion packaging I'm foot state-of-the-art for and square is Regarding inventory

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tablets have capsules. and We

or or CBE-X doing Now a we file reportable amendment gratuitous and everything. annual just blanket stop

ready done. the for now eyes make Over the X But just we comes of proceed file FDA your FDA if your how to teeth Beautiful full forward. matter dot It's what in approval next set valid. It's it a inspection. will a and weeks, and and strategy cross facility. the X, you're the into is with sure

packaging, it future we have these fact but to not of the a only we are suites the from and which long the years our least stockholders. took the days will now, usually meeting will put have we capacity from the the One there we manufacturing as will the of of next well. in off and our This all facility us manufacturing packaging show have that moved standpoint instead manufacturing and to also allow expansion of products care packaging in at X lines, for help

steady to debt. wrap go growth to to future positioned recently consistent including an stream upcoming the expected Oxy/APAP up continue is and for company generic before is including profit, pharmaceutical and products, low as and methadone. launched launches, with product we Elite Going attractive Lisdex in Q&A,

strong. are fundamentals Our

in are we the best We ever been. financial position have that

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that on we should about sometime expect quietly are soon. this have very We hard that issue. And you been working

Nasrat Hakim

to of going go had to ton of not lot what's Q&A. We A germane were questions. a them on. me Let

next not. I So people's them a things I them about base But took them or generalities. I the some love address Dan's took maybe in and asking on out, are we'll quarter way curiosity off of will about them have well. going still conversation addressing questions that's us, reduce and as and bit also is consolidated that, a that I'm them, okay-ish to not problem but okay? no quite impact

The recent new on asks the the other is is, medications. you It's And to about and pain the on approval first pain thing, X, will called there plans X the nonopioidal what a question, product of about pain effect person nonopioidal that question medication. Journavx pain questions working including medication. Oxy have their Elite nonopioidal medication launch are was same Journavx

this sensing an The okay. And will pain the inhibitor I V effect selectively why that's have okay, to don't by a We're it product, not, on peripheral explain effect channel my seen. neurons. be that But opinion. remains Journavx, of blocks think us. is new I'll way, sodium

will to got some take pain work new. at is doesn't It side brain receptors. to for which on become tested, has it take And once going the we mainstream. it tested the and a among large population, years. it's It's effects to it look you time So because new, be to

expensive. Second, brand, it's extremely it's a and

time companies I companies do easily. wisdom an the to think you anytime for this them Norco, teeth, a opinion. going very that, to out approve you a for take versus that's not take allow if insurance happening your Again, with a it's So Codeine. to to you And and Percocet or go will APAP Drugs them soon. my take personal a like tested. be that see very not insurance long doctor

fine. future, is we're foreseeable the opinion my for So

don't about Next of they was but were provide mentioned quota question, color in Nasrat to of at amount allowed their that sold sell one this of they the Can which, conference at additional their medications. concept that I call, some last total next to he you general. meeting? speaking the the allotment the all remember

allowed sell what we is My sell and we to quota general not given on we're how as can for to question as sell is any who much much drug. want setting

for and yes nonopioids. question The is yes no, its

nonopioid want now, want The -- FDA, sell long to determines no absolutely the that you answer For for therefore, right how anybody as by going much sell. you will -- how as can you're whatever But much that much and And suffering opioids. you quota approved can we it. frankly. you is you buy through get, as can we are DEA as

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launches A -- bunch or believe. products, April, of pending before it we approved on not Update launch generic okay? I'm by say Update before questions Oxy of about April of that Acetaminophen. pending sure the what is. to the that on approved procedures, Percocet launch would I with It's safe

as and provide the to Can affects chain. the more how please regulations you it supply opioid whole color

to selling Each ourselves. is for because Oxy/APAP license us Hydro/APAP Codeine you with things is to or fee, all and $XX,XXX states quota have and they to of pay you that the regulations said that year a The do that, prove the differently. And you through you we insane. Other year are and a get with number bill certain then and penalize opioid with. one And capsules, or drugs one quota deal we of going state true, the state among in have after have it before DEA you under acts same the nation that. the you and if we've and a states us not get process lets drug. $XXX,XXX. treats is sell it us it. nation APAP with are the every but god. a It it's tablets It the Starting filing UN you One reach

going before the work to some details of you loss at from that the that state's of launching out charge So you of fees of you. all because you're the all launch end a up could

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come take probably I something, with of of get think will there. I lot and court a up it could thinking proceedings lot to but a

it's good, it now, As very and but test achieve. is arduous, definitely of everything we're managing is hard to

quota whole about about around is questions Did to some Can more or more color launch. the gave or we move to you please question to for approval in this with companies? Vyvanse. to upon Vyvanse? The the our are Or most of Does a Elite of Vyvanse. September run Elite and reliable quota similar quote of API? shortage access -- enough provide bunch quota expecting experiencing XX% they Vyvanse, of A Vyvanse we Takeda generic satisfied DEA out have are Vyvanse to

quota maybe Vyvanse business. of make don't a their make no and of Then and contracts The us, dollar. to we and a comment yes, that, charge of business, shortage. enough and But with out want do, we we sure solicit supply. on that we in some I allocate lower they have to that. is call. deal to the happy DEA with The the this heck solicit DEA we and lot everybody will than nevertheless, they gave responses and decide -- the find gave Takeda the how price I'm went they failed us they is to the that. quota quota gave I and us sell That's at massive a amount about wanted with XX%

before just coming. a is So started the we of get sense for more that process, security quota asked we to

little Well, didn't eventually, they but they gave the us to a give quota, more it manufacturer. API

even couldn't So quota, buy had if I it. I

the failure bottle when plan into So get down that December didn't manage, quota, to a of you plan very XX we what little need this to X is gives we vendors our the to the supply. you we that's XX. in bottles, DEA a over It's you and month, We with not on reasons we tough you and distribute. one to why do trouble per thing sell and slow and it have of clients -- a just how sure distribute that's to to dump make market make sure things

for X it and don't and sell you, lose. get ask they you and failure If you hit quota months in give with again all to supply

forth it So Amphetamine it has we're IR, and to we managed what be with extremely so and managed, have and that's well. ER Vyvanse, doing

as Vyvanse X that. launched Percocet all said, of weeks, be to Will within X changed I no.

April will probably later -- We launch that no April. than by

Dexcel, to of lot going our a Are partner, sales go to X years? are we going they are get going to Vyvanse? more they in global? questions Partnerships, they about have Are

that summarize years all for them accommodating X me can Israel, of way with our so this. and is We've with Dexcel in them approval in any did. working they let can So they partner. been and get we the

can. bottle sold invested as the and they've on benefit, I step now, mentioned time, in Along that. we working to labeling haven't there, ER they're them one again But have the then they We can Now see process We're then things. with interested other way, with successfully, Amphetamine talk. single We want and is But market we'll through get we them. and and them is again. Vyvanse X them working at make repeat a there. we're can is and best we they're the any accommodating opportunity to But through repeat. dealing and that it one the go let's this. of get and thing a some years way their set, marketing and and

approval will a New for was operational? the that. it already already XXX that facility, expansion, bottles happen? approved Totally in the facility equipment the was. new the of that. about Is of lots final approved? when questions operational. it Was Upon Is it I Yes, it producing addressed functional? is. facility, net new Yes

come generality Could have from capacity you this packaging do good the about some in we we very, are it to also of because follow years set think what of already you heartbeat, we're change relieved it's that will we very, the planned we in for install to a one can buildings so one line this that facility. the moving the manufacturing for have up packaging, and give to on line from should the not current we And I time, it for the and that we for packaging third okay? we long sweep. facility, us can and a space very other expect a

In old of and the vault warehouse. addition, have we in the the new XXX, vault facility had in a huge old role. Building We're another course, keeping

controlled for for covered nicely also space we're vault very substances. So

What All my administration, The Trump right. oh god. else?

us that. an see to of he give If if be Junior I volume. form bottle come to or price. we I'm don't the to opioid board is the I any Okay. discuss not injectables helps is on RFK on a in overseas does, going lot sure have sales honestly. health is with on sell. our wellness a seems person him we'll than that think to make asking health it the approach? out issue potential bottle for not asking thing it's more support drugs. anti-vax. his effect of There We public, and you of volume? do policy. mentioned of he do why anything effect that. see mental But and is a don't generic not coming Is to I have every for one we What else him Everything think do he Less to the make issue this, will on question going is be

concerned not about So that. I'm

and Do to would the Elite? hurt to intelligent, API? going hurt going The they Are X about they setting the same we Elite? to supply are affect eat that we talk is important they affect questions second X, the Do chain? pass cost the Trump the thing. consumers? Or How are Or the on all tariffs would it?

So that to U.S. in let in be API a opioids for made me have address the The minute.

there no tariffs So there. are

date, here. protect and about and a is I'm opioids making who could that us, make people when to that, opioids are raw the them it a this, I have may cannot makes opioids there that overseas and Having way thought You the said trying bring they material not could affect because don't this okay? all [ come coming European you is suppliers material because countries my have said China. impact India ] to and from yet an from overseas, and see from what subject not So of that to most tariffs, Spain are Italy, have of us

when in, We the tariffs kick what's to will going see happen.

is reason, that for doesn't So popular is bariatrics got price and it, medical increase of thing overseas the feeling from have to any is okay? okay? to not to we're gut purpose, on think tariffs Trimipramine President Isradipine we that I my unlikely certain that, highly That trying the put happen. in it drugs some it's not going or Second, products. We're serve [indiscernible] a products products of affected, to do, Trump that's to don't lower increase course, going to and going If, buy the or price. America,

to does the everybody industry, okay? competitors, we'll So in All our of be that. everybody so is going increase impacted

medical we the with So war If have an discussed do that been and of medical start that update later kind I then. products, things equipment tariffs then you on some to a in Elite date. has will not all under see I tariff to impact do the short-term of change and

think As of I now, safe. we're

general questions, Did this NASDAQ. questions -- Think for acquisition the M&A way. we The about did of receive Elite? are offers last and any set you merger it and of

offer. people house have an sale, your up make If you for you

nobody offered have not come or If you yet So therefore, for for acquisition we don't meet offer, going up sale, about Elite to has okay? have is us nobody come you and and merger talk and it. to fully

any intact? in the answer. a a acquiring, is tricky still be or the address and No. to without minute. question, the merger reverse merging currently Again NASDAQ to any still companies NASDAQ timeline in or to acquisition This Are for track there Elite? around I'll Is XXXX? that same Is uplisting interested on plan to uplist stock split August

right. All

So take acquisition. me about NASDAQ minute -- and let and merger talk a and

We first for as have been goal joined company. And that the a months few I the setting now. years

as extremely have and reverse the Israeli to New previous and right. who wanted us the is exchange. to the I rushing said is believe on entity us the extremely detrimental York recently Our split All well me a connected go no, because I Chairman, till even took industry, that in to stockholders. and have I And to NASDAQ believe knowledgeable then to something this that like do then,

different. are Now things

FDA down got turned have Elite and turned went from around. the company our We went a almost We on the that because bankrupt technology.

these we're leader and viable things turn on a products. of company now industry we a has around that the revenues, profits and we and some are in And

or Our mergers out this the fundamentals are time is strong, acquisition to seek NASDAQ. and and for us

offer with So up one among senior will when Bank to they And Fargo, country, step step Then the or is see -- world-renowned company. would which the first The goes entertain, offers what sign it I and if top Wells viable. that be, the people suitors. that? would Board the that next is and the to to to we're these do have staff we It first-line level, them the you to the goes management, companies listen be will sign the bring of approve it, it Directors others. Board be first America, you believe stockholders approve of sales purchase, Jefferies, it. Directors. of acquisition, if you talk -- and the the stockholders. of The them, going JPMorgan, to the The up that it go SEC, my will will Then I'll with then management a to will you, to me, all. in go

NASDAQ. we and or we we step don't reject process Then this the offer offer. get If through the right either is the next go

We fundamentals hit, need any any But come Now split, have a bulletin cannot to the I pipeline. go do concerned little everything company board. am we are NASDAQ. have will we a without before we for fundamentals, are to not have a NASDAQ blip go in now that to gravitated reverse and We because okay? to we last would products future have strong the and that the to products time back long that current as with

continuity, and we NASDAQ So I now. we withstand right think do have can a business

on merger outlined. I We not. no points question, NASDAQ The exactly XX? it work going or And reason go very the that these to is for need August the time I uplifting is to X now. It's last timeline to happens near. in to acquisition whatever this in said is So

Matthew, and quarter. and you you, again thank forward talking gentlemen. ladies to Thank you, We next look to

Operator

this event. concludes Everyone, today's you. Thank

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

Elite Pharmaceuticals (ELTP) 14 Feb 252025 Q3 Earnings call transcript