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Elite Pharma inks deal with SunGen for extended-release products

  • Elite Pharmaceuticals (OTCQB:ELTP) enters into a new Development and License Agreement with privately held SunGen Pharma aimed at developing and commercializing extended-release generic drugs, specifically CNS stimulants, anticonvulsives, antipsychotics and antihypertensives. The new pact builds on their original co-development deal signed last year.
  • Under the terms of the agreement, the companies will share responsibilities and costs to develop and market the products. Once approved, the drugs will be jointly owned. Elite will manufacture and package all products on a cost plus basis.

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