Elite, Mikah in Generic Supply Pact

Elite Pharmaceuticals, Inc. has entered into a commercial manufacturing and supply agreement with Mikah Pharma, LLC. Elite will perform the lab stability studies, manufacturing and packaging for two generic products, Isradipine Capsules USP, and Phendimetrazine Tartrate Tablets.

Elite will receive an undisclosed fee upon transfer for the manufacturing and packaging of the products. For Isradipine, Elite will receive a 10% royalty on profits of the finished products. Elite will also receive a milestone payment for each product for the work associated with the technology transfer.

“The Mikah agreement represents Elite’s continuing progress in utilizing our manufacturing infrastructure and expertise to generate revenues,” said Jerry Treppel, chairman and chief executive officer.