UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 1.02 Termination of a Material Definitive Agreement
On August 23, 2022, Elite Pharmaceuticals Inc. (“Elite”) received notification from Lannett Company, Inc. (“Lannett”) that they are terminating the License, Supply and Distribution Agreement for Mixed Salts for Single Entity Amphetamine Tablets and Mixed Salts for Single Entity Amphetamine Extended-Release Capsules (“Amphetamines Agreement”) effective as of March 31, 2023. All marketing rights will return at that time to Elite and its partner, Mikah Pharma LLC.
In anticipation of the return of the marketing rights, Elite will either develop its own sales, marketing, and distribution system to sell products under an Elite label or choose a replacement sales and marketing partner. Elite will move forward with the most financially attractive alternative.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Description | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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: August 26, 2022 | ELITE PHARMACEUTICALS, INC. | |
By: | /s/ Nasrat Hakim | |
Nasrat Hakim, President and CEO |