Northvale company releases financial information

June 26, 2018 by  

Specialty pharmaceutical company Elite Pharmaceuticals, Inc., which is based in Northvale, recently released figures for the fiscal year that ended March 31, 2018.

The report revealed that revenues dropped from the same period last year, which Elite attributes to lower revenues relating to their manufacture of generic naltrexone and methadone. In addition, the company’s research and development activities with regard to product development increased by 16%, with Elite investing almost $10m in the effort.

However, the company has filed four Abbreviated New Drug Applications (ANDA), and established alliances with Glenmark Pharmaceuticals Inc., USA and Dr. Reddy’s Laboratories to collaborate on strategic marketing. At present, the FDA is reviewing six of Elite’s ANDAs.

Elite Pharmaceuticals specializes in generic products, as well as items to deter opioid abuse. The products it creates are taken orally, and offer controlled and sustained release. Its proprietary products offer a once-daily treatment that help control pain. They also help with two limitations of current medications: failure to provide consistent relief from pain, and failure to deter possible problems with opioid use in future.

Some of Elite’s products have been licensed to other firms, and it has eight commercial products currently on the market, as well as six products that have already been filed with the Food and Drug Administration (FDA).

When information like this becomes available, company officials might consider working with a brochure printing company to create an informative report for interested parties.

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