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ELTP Elite Pharmaceuticals

Filed: 5 May 21, 9:56am

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

 

May 5, 2021

Date of Report (Date of earliest event reported)

 

ELITE PHARMACEUTICALS, INC.

(Exact name of registrant as specified in its charter)

 

Nevada 001-15697 22-3542636
(State or other jurisdiction
of incorporation)
 (Commission File Number) (IRS Employer
Identification No.)

 

165 Ludlow Avenue, Northvale, New Jersey 07647

(Address of principal executive offices)

 

(201) 750-2646

(Registrant’s telephone number, including area code)

 
(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.001 per share ELTP OTCQB

 

 

  

 

 

 

Item 8.01.Other Events.

 

On May 4, 2021, Elite Pharmaceuticals, Inc. ("Elite" or the “Company") issued a press release to announce the launch of Loxapine Succinate capsules (“Loxapine Capsules” or the “Product”), 5 mg, 10 mg, 25 mg and 50 mg with its distribution and marketing partner Prasco, LLC (“Prasco”).

 

A copy of the press release is being finished with this Current Report on Form 8-K as Exhibit 99.1.

 

On February 14, 2020, Elite Pharmaceuticals Inc. (“Elite”) entered into a license, supply, and distribution agreement, and amended on July 30, 2020, with Prasco to be the exclusive United States distributor for Elite’s Abbreviated New Drug Application (ANDA) for the Loxapine Capsules. The product will be distributed under the Burel label.

 

Under the Agreement, Prasco will provide sales, marketing, and distribution for the Product, and Elite will manufacture the Product and receive manufacturing fees and a profit split. The term of the License Agreement is three years, with one year renewal terms.

 

Item 9.01Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No. Description
99.1 Press Release dated May 4, 2021

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 


Dated: May 5, 2021ELITE PHARMACEUTICALS, INC.
   
By:/s/ Nasrat Hakim
  

Nasrat Hakim, President and CEO