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Elite Pharmaceuticals Reports Positive Results from a Pivotal Bioequivalence Study - February 7, 2023

NORTHVALE, NJ / ACCESSWIRE / February 7, 2023 / Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (OTCQB:ELTP), a specialty pharmaceutical company developing niche generic products, today reported positive results from pivotal fasted bioequivalence studies for an undisclosed generic drug product in a class of medications called antimetabolites . IQVIA reported annual sales for the...

NORTHVALE, NJ / ACCESSWIRE / February 7, 2023 / Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (OTCQB:ELTP), a specialty pharmaceutical company developing niche generic products, today reported positive results from pivotal fasted bioequivalence studies for an undisclosed generic drug product in a class of medications called antimetabolites . IQVIA reported annual sales for the twelve months ending December 2022 of $42 million for the generic market for this product.

The studies were open label, single-dose crossover comparative bioavailability studies in volunteers of male and female patients who were already on established drug regimens under fasting conditions. The results indicate that the generic product is bioequivalent to the branded product. Elite is compiling the data for this product to file an Abbreviated New Drug Application with the US Food and Drug Administration.

About Elite Pharmaceuticals, Inc.

Elite Pharmaceuticals, Inc. is a specialty pharmaceutical company that develops niche generic products. Elite specializes in developing and manufacturing oral, controlled-release drug products. Elite owns multiple generic products which have been licensed to Lannett Company, Prasco, LLC, Epic Pharma, LLC, and TAGI Pharma. Elite operates a cGMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ. For more information, visit www.elitepharma.com.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, those related to the effects, if any, on future results, performance or other expectations that may have some correlation to the subject matter of this press release. Readers are cautioned that such forward-looking statements involve, without limitation, risks, uncertainties, and other factors not under the control of Elite, which may cause actual results, performance or achievements of Elite to be materially different from the results, performance or other expectations that may be implied by these forward-looking statements. These forward-looking statements may include statements regarding the expected timing of approval, if at all, of products by the FDA, and the actions the FDA may require of Elite in order to obtain such approvals. These forward-looking statements are not guarantees of future action or performance. These risks and other factors are discussed, without limitation, in Elite's filings with the Securities and Exchange Commission, including its reports on forms 10-K, 10-Q, and 8-K. Elite is under no obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Contact: Elite Pharmaceuticals, Inc. Dianne Will, Investor Relations 518-398-6222 [email protected]

SOURCE: Elite Pharmaceuticals, Inc.

View source version on accesswire.com: https://www.accesswire.com/738300/Elite-Pharmaceuticals-Reports-Positive-Results-from-a-Pivotal-Bioequivalence-Study

Elite Pharmaceuticals, Inc. Reports Financial Results for the Third Quarter of Fiscal Year 2023 ended December 31, 2022 and Provides Conference Call Information

Conference Call Scheduled for Wednesday, February 15 at 11:30 AM ESTNORTHVALE, NJ / ACCESSWIRE / February 14, 2023 / Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (OTCQB:ELTP), a specialty pharmaceutical company developing niche generic products, announced results for the third quarter of fiscal year 2023 ended December 31, 2022 ("Third Quarter").Consolidated revenues for the three-month period ended December 31, 2022, were $9.3 million, an increase...

Conference Call Scheduled for Wednesday, February 15 at 11:30 AM EST

NORTHVALE, NJ / ACCESSWIRE / February 14, 2023 / Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (OTCQB:ELTP), a specialty pharmaceutical company developing niche generic products, announced results for the third quarter of fiscal year 2023 ended December 31, 2022 ("Third Quarter").

Consolidated revenues for the three-month period ended December 31, 2022, were $9.3 million, an increase of $0.30 million or 3% as compared to the comparable period of the prior fiscal year. The increase was primarily attributed to revenues from generic immediate-release Adderall® and generic extended-release Adderall®. Operating profits were $2.0 million, an increase of $0.12 million from the prior year's comparable period, and net income was $2.96 million.

Consolidated revenues for the nine-month period ended December 31, 2022, were $25.5 million, an increase of $0.90 million or 4% as compared to the comparable period of the prior fiscal year. The increase was primarily attributed to revenues from generic immediate-release Adderall® and generic extended-release Adderall®. Operating profits were $4.1 million, a decrease of $0.10 million from the comparable period of the prior year, and net income was $4.79 million.

Conference Call Information

Elite's management will host a conference call to discuss the Third Quarter financial results and provide an update on recent business developments. Stockholder questions should be submitted to the company in advance of the call.

The financial statements can be viewed for Elite's Third Quarter of Fiscal Year 2023 on Form 10-Q here.

About Elite Pharmaceuticals, Inc.

Elite Pharmaceuticals, Inc. is a specialty pharmaceutical company that develops niche generic products. Elite specializes in developing and manufacturing oral, controlled-release drug products. Elite owns multiple generic products which have been licensed to Lannett Company, Prasco, LLC, Epic Pharma, LLC, and TAGI Pharma. Elite operates a cGMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ. For more information, visit www.elitepharma.com.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, those related to the effects, if any, on future results, performance or other expectations that may have some correlation to the subject matter of this press release. Readers are cautioned that such forward-looking statements involve, without limitation, risks, uncertainties and other factors not under the control of Elite, which may cause actual results, performance or achievements of Elite to be materially different from the results, performance or other expectations that may be implied by these forward-looking statements. These forward-looking statements may include statements regarding the expected timing of approval, if at all, of products by the FDA, and the actions the FDA may require of Elite in order to obtain such approvals. These forward-looking statements are not guarantees of future action or performance. These risks and other factors are discussed, without limitation, in Elite's filings with the Securities and Exchange Commission, including its reports on forms 10-K, 10-Q, and 8-K. Elite is under no obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:For Elite Pharmaceuticals, Inc.Dianne Will, Investor Relations, 518-398-6222[email protected]www.elitepharma.com

SOURCE: Elite Pharmaceuticals, Inc.

Topic:

Earnings

Bakery chain announces another N.J. opening amid nationwide expansion

Bakery cafe chain Paris Baguette is continuing its nationwide expansion with another planned opening in the Garden State.Paris Baguette recently revealed plans to open in Plainsboro to NJ Advance Media.An exact location and opening date have yet to be determined for the cafe, although it is expected to open early 2023.The Plainsboro location will join spots in Cherry Hill, Livingston, Montgomery, Montvale, Northvale, Paramus, Red Bank and West N...

Bakery cafe chain Paris Baguette is continuing its nationwide expansion with another planned opening in the Garden State.

Paris Baguette recently revealed plans to open in Plainsboro to NJ Advance Media.

An exact location and opening date have yet to be determined for the cafe, although it is expected to open early 2023.

The Plainsboro location will join spots in Cherry Hill, Livingston, Montgomery, Montvale, Northvale, Paramus, Red Bank and West New York that are also slated to open soon in the Garden State.

The company is planning to open 1,000 stores in the United States by 2030.

Paris Baguette offers a variety of daily-baked goods, such as whole cakes, cake slices, breads, donuts, croissants and roll cake. Its menu also features salads, sandwiches, coffee and tea.

The Korean-based cafe chain debuted in the United States in 2005.

It operates 105 locations nationwide, with 31 spots coming soon according to the company’s website.

There are seven Paris Baguette locations in New Jersey.

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The Dominguez Brothers and Alexander Dillon Offer Up A Unique Dining Experience at Olar Noso

If a restaurant can be both tucked and perched, that's the setting Olar Noso occupies on a freshly manicured corner in Northvale, NJ. Olar Noso is often called a neighborhood restaurant, but all neighborhoods should be so lucky.NEW YORK, NY / ACCESSWIRE / April 8, 2022 /The past few years have been nothing short of trying times for the restaurant industry. Even so, it is exciting to see young and talented entrepreneurs stepping up to provide unique dining experiences for local restaurant-goers ...

If a restaurant can be both tucked and perched, that's the setting Olar Noso occupies on a freshly manicured corner in Northvale, NJ. Olar Noso is often called a neighborhood restaurant, but all neighborhoods should be so lucky.

NEW YORK, NY / ACCESSWIRE / April 8, 2022 /The past few years have been nothing short of trying times for the restaurant industry. Even so, it is exciting to see young and talented entrepreneurs stepping up to provide unique dining experiences for local restaurant-goers that have long desired something new. That is exactly what Matt and Marcus Dominguez are doing alongside Alexander Dillon at Olar Noso. Olar Noso is the areas newest establishment generating a significant buzz among locals and loyal patrons eagerly awaiting the rebirth of a long-time favorite destination. Olar provides a lively atmosphere not often available outside the city, it's quickly emerging as the sophisticated but comfortable restaurant our area needed.

The name Olar Noso comes from a northern Spanish dialect meaning "our home", it's a true family-owned restaurant founded by the Dominguez brothers and backed by childhood friend Alexander Dillon. Matt Dominguez has more than ten years of restaurant experience working alongside his father, Miguel, at the wildly famous Olar location in Piermont. Since the pandemic, northern New Jersey has undergone somewhat of a suburban renaissance, the influx of young New Yorkers to the Bergen County area provides for the perfect opportunity to bring a restaurant like Olar Noso to life.

Olar Noso Features a Casual Upscale Menu

At Olar Noso, it's all about the food! The official description is "Mediterranean cuisine" but our best characterization is a fusion of Spanish and Italian flare. Patrons can enjoy delicious, gourmet pizzas that can be paired beautifully with traditional Spanish dishes, such as paella. The menu is expanded nightly with additional offerings of chef specials including some delicious twists on traditional tapas recipes. Olar also offers a fun bar scene on weekends, with specialty cocktails and a wine list procured by the owners and expert sommeliers. The team, now known as 3D Hospitality, has aspirations of being named one of New Jersey's few Michelin-star restaurants.

View source version on accesswire.com:

Coldwell Banker Realty Celebrates Grand Opening of New Phase at Paris Square Active Adult Community

Anne Van Dyke from Coldwell Banker Realty’s Closter/Alpine Office and Coldwell Banker Realty New Homes, a leading sales and marketing organization in the homebuilding industry, announce the grand opening of The Monroe and Madison Building at ...

Anne Van Dyke from Coldwell Banker Realty’s Closter/Alpine Office and Coldwell Banker Realty New Homes, a leading sales and marketing organization in the homebuilding industry, announce the grand opening of The Monroe and Madison Building at Paris Square, a ten-building, 111-residence, 50+ active adult condominium community located at 199 Paris Avenue in Northvale, N.J. Anne Van Dyke and Coldwell Banker Realty New Homes are serving as the sales and marketing team for the community.

The milestone is the latest success story for the Coldwell Banker Realty New Homes team in driving results on behalf of developers, builders and Realtors across New Jersey. Prior to Coldwell Banker Realty New Homes’ involvement, Paris Square had undergone a lengthy 15-year construction process that had only resulted in the completion of half of its planned units. Years of no activity, a lengthy construction process, and the uninspiring marketing of the completed units over its history had led to equally underwhelming sales velocity and a reputation in the local market as a community geared towards the 75-year-old plus age group, rather than one focused on empty nesters from 50-years-old and up.

However, a new developer, Alvin Sarter of Treuhold Capital Group, a New York-based real estate investment company, acquired the property intending to resuscitate it as a destination for active adults in northern New Jersey. Immediately, Alvin knew that it would also be critical to “reintroduce” the community to the local market by creating an A-team of local professionals known for their financial acumen of the market, reputation for quality construction and keen marketing skills. Recognizing their track record of success with similar assignments, he selected the Coldwell Banker Realty New Homes team and Anne Van Dyke from Coldwell Banker’s Closter/Alpine Office as well as local builder Ray Reduce Development, residential designer Deb Franklin, and local lenders Procida Capital and ConnectOne Bank to bring the project to the market.

“Coldwell Banker Realty New Homes understood the value proposition presented by Paris Square relative to the market area competition and immediately set out to implement a sales and marketing strategy to effectively deliver this message to the local community,” said Sarter. “They know exactly what buyers are interested in when buying new construction – particularly in an age-restricted community and focused their efforts on leveraging the quality of what we were building with the amenities package offered at Paris Square.”

Aimed at “junior seniors” (55-74 years old), Paris Square now features a range of one, two and three-bedroom residences ranging from 820 to 1,537 square feet. Every home also offers 9’ ceilings, wide plank wood flooring, shaker-style cabinetry, quartz countertops, GE stainless appliances and Kohler faucets among other living comforts.

Paris Square also boasts a community clubhouse, heated pool, walking path and park, fitness room, stadium-seat theatre, game room, putting green and on-site garage parking. The community is nearby many local attractions such as Rockleigh Golf Course, Rockleigh Equestrian Centre and numerous upscale dining and shopping options.

Through the combined efforts of the team, Paris Square’s Jefferson Building was sold out prior to its completion. In addition, pre-construction sales for the remaining residences have been robust with 40% already sold. Construction for the full community is scheduled for completion in 1Q of 2023.

Anne Van Dyke commented, “Paris Square is, dare I say, “sexier,” than many other area age-restricted developments. Because of that we have seen more and more younger buyers coming in during this sales phase. It is clear that there is great excitement for the community in the local area and we look forward to continuing to help people find their homes at Paris Square.”

Sheryl Ritschel, Director at Coldwell Banker Realty New Homes added, “Our success at Paris Square only further underscores the critical role that effective and data-driven branding and marketing plays in the success of a real estate development. We are excited to celebrate this milestone as we grow our reputation as a trusted partner to builders, developers and Realtors across the regional single and multifamily housing community.”

Powered by the Coldwell Banker brand, Coldwell Banker Realty New Homes partners with real estate developers and Realtors through every step of the real estate marketing process to drive successful sales and leasing efforts at new residential properties. Since 1985 the Coldwell Banker Realty New Homes team has helped close over $11B in gross sales across over 20,000 homes in N.J., N.Y., Pa. and Conn.

Paris Square prices start in the mid-$400,000’s. Tours are by appointment only. For more information, visit parissquarehomes.com or call Anne Van Dyke at 201-401-1040.

LCOR, a fully integrated real estate investment, development, and management firm, today announced the topping out at The Ryland, the newly named, 267-unit, 31-story residential building located at 1 Dock Street in Philadelphia’s highly sought-after Society Hill neighborhood. The project’s construction is being led by Hunter Roberts Construction Group and is slated for final completion in Q4 of 2023.

“We are thrilled to have reached this key milestone as we move one step closer to bringing The Ryland to final completion by the end of next year,” said Peter DiLullo, Senior Vice President at LCOR. “Society Hill is neighborhood that is deeply embedded within American history and culture and we’re looking to forward to delivering an additional residential offering to the neighborhood as we continue growing our footprint with the greater Philadelphia community.”

“Hunter Roberts Construction Group is proud to be Building another successful project with LCOR and achieving this significant milestone,” said Daniel Dirscherl, Executive Vice President, Hunter Roberts Construction Group. “We look forward to being able to deliver this high-quality project on time and within budget. It has been a satisfying partnership from planning to execution.”

Upon completion, The Ryland will be comprised of 267 total residences, a mix of 44 studios, 154 one-bedroom and 44 two-bedroom apartments as well as 20 two-bedroom and 5 three-bedroom penthouse units inclusive of private outdoor deck space and condominium quality finishes. Shared resident amenity spaces to include a state-of-the-art fitness center, an outdoor pool with an accompanying roof deck and indoor rooftop lounge, multiple resident lounges throughout the building, 24/7 concierge services, a children’s playroom and on-site parking.

Located in Center City’s highly sought-after Society Hill neighborhood, The Ryland offers immediate access to the best of Historic Philadelphia inclusive of a myriad of food and beverage, shopping and art and cultural offerings. From historic landmarks such as Independence Hall and the Liberty Bell to the scenic Washington Square, the building is ideally situated in the heart of the first U.S. World Heritage City. Additionally, The Ryland benefits from its close proximity to the Market-Frankford Southeastern Pennsylvania Transportation Authority (SEPTA) line with the 2nd Street station a short walk from the property and is a short driving distance away from major area roadways and thoroughfares.

The Ryland marks LCOR’s 5th development in Pennsylvania, adding to The Birch in Conshohocken, Arlo in Malvern and 1919 Market Street and 419 Bainbridge Street in Philadelphia.

Leasing at The Ryland is projected to commence in Q3 of 2023. For more information on The Ryland, please visit Theryland.com.

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