NORTHVALE, N.J., June 14, 2018 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc. (OTCQB:ELTP) today announced that a member of its Board of Directors, Eugene Pfeifer, passed away on Sunday, June 10, 2018. Mr. Pfeifer had been a member of Elite’s Board since April 2016. His stellar career spanned more than 45 years of legal advice and counseling in the areas of governmental regulation , legislation and FDA representation. He was a major participant in the development of the Drug Price Competition and Patent Term Restoration Act of 1984 and provided strategic counseling to companies affected by that statute. In addition, he provided regulatory advice and representation on a wide variety of FDA, FTC, and DEA regulated activities, including product approval, advertising, promotion, and compliance issues.
“We are deeply saddened by Gene’s passing," said Nasrat Hakim, Chairman of the Board of Elite. "Gene was an inspiring leader and an insightful contributor to our Board and we will be forever grateful for his wisdom and dedication to the Company and its shareholders. He brought great value to our company and he will be greatly missed, both as a Board member and as a friend. We extend our deepest condolences to Gene’s family.”
About Elite Pharmaceuticals, Inc.
Elite Pharmaceuticals, Inc. is a specialty pharmaceutical company which is developing a pipeline of proprietary pharmacological abuse-deterrent opioid products as well as niche generic products. Elite specializes in oral sustained and controlled release drug products which have high barriers to entry. Elite owns generic products which have been licensed to TAGI Pharma, Epic Pharma, Dr. Reddy’s Laboratories, and Glenmark Pharmaceuticals, Inc., USA. Elite currently has eight commercial products being sold, six products filed with the FDA, additional approved products pending manufacturing site transfer and the NDA filing for SequestOx™. Elite’s pipeline products include abuse-deterrent opioids which utilize the Company’s patented proprietary technology and a once-daily opioid. These products include sustained release oral formulations of opioids for the treatment of chronic pain. These formulations are intended to address two major limitations of existing oral opioids: the provision of consistent relief of baseline pain levels and deterrence of potential opioid abuse. Elite operates a GMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ. Learn more at www.elitepharma.com.
