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Elite Pharma in Development Pact

Will develop undisclosed Rx product for U.S. with Hong Kong-based pharma

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Elite Pharmaceuticals, Inc. has entered into an agreement to develop a branded pharmaceutical product for an undisclosed Hong Kong-based company. The company will provide the formulation for the product and Elite will undertake a development program for the product.

The company will be responsible for filing the NDA for the finished product, and, if approved, Elite will retain certain rights to manufacture the product and is eligible to receive milestone payments.

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