Dec. 10 at 7:20 PM
$ELTP Here are the key details regarding a potential buyout:
Actively Seeking Acquirers: In recent earnings calls in early and mid-2025, CEO Nasrat Hakim confirmed that the company has engaged M&A partners and is actively seeking offers from larger institutions (such as J.P. Morgan and Morgan Stanley).
Strategic Goal: A merger or acquisition, along with a potential uplisting to the Nasdaq stock exchange, is a stated strategic goal for the company.
Improved Fundamentals: The CEO mentioned that Elite is now in its strongest financial position ever, with strong fundamentals and recent product launches (like a generic version of Vyvanse®) making it an attractive target.
Timeline: While an exact timeline is flexible, the CEO has indicated the time for such a move is "very near".
Current Status: Elite Pharmaceuticals is still a publicly traded, independent company headquartered in Northvale, New Jersey, trading under the symbol ELTP on the OTC Markets