Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Orit Laboratories, LLC > News item |
Elite, Orit enter into agreement to commercialize anxiety drug
By Lisa Kerner
Erie, Pa., Jan. 12 - Elite Pharmaceuticals, Inc. entered into a development and commercialization agreement with Orit Laboratories, LLC. The companies will co-develop and commercialize an extended release drug product for the treatment of anxiety, according to a company news release.
This is Elite's fourth strategic partnership and its second with Orit in the last 12 months.
"This development agreement expands Elite's diversified research and development portfolio of controlled release products which address niche segments of the market and include, pain, allergy anti-invectives, cardiovascular and now anxiety," Bernard Berk, chairman and chief executive officer of Elite said in the release.
The agreement is consistent with Elite's strategy to develop highly specialized difficult-to-formulate products, which have limited competition.
Elite Pharmaceuticals, based in Northvale, N.J., is a specialty pharmaceutical company principally engaged in the development of oral, controlled release products.
Orit Laboratories is a specialty pharmaceutical product development company with headquarters in West Caldwell, N.J.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.