Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(D)
OF THE
SECURITIES EXCHANGE ACT OF 1934
May 18,
2010
Date of
Report (Date of earliest event reported)
ELITE
PHARMACEUTICALS, INC.
(Exact
name of registrant as specified in its charter)
| Delaware |
001-15697 |
22-3542636 |
|
(State
or other jurisdiction
of
incorporation)
|
(Commission
File Number)
|
(IRS
Employer
Identification
No.)
|
165
Ludlow Avenue, Northvale, New Jersey 07647
(Address
of principal executive offices)
(201)
750-2646
(Registrant’s telephone number,
including area code)
|
|
|
(Former
name or former address, if changed since last
report.)
|
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
| o |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425) |
| o |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12) |
| o |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
| o |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) |
Item
2.01 Completion of Acquisition or Disposition of Assets.
On May
18, 2010, Elite Pharmaceuticals, Inc. (the “Company”) executed an asset purchase
agreement with Mikah Pharma LLC (the “Seller”) and under that agreement
completed the acquisition from the Seller of Abbreviated New Drug Application
number 76-723 (Hydromorphone Hydrochloride Tablets USP, 8 mg) and all amendments
thereto (the “ANDA”), that have to date been filed with the FDA seeking
authorization and approval to manufacture, package, ship and sell the products
described in the ANDA, for aggregate consideration of $225,000, comprised of an
initial payment of $150,000 paid to the Seller on May 18, 2010 and a second
payment of $75,000 to be made to the Seller on June 15, 2010 (the “Final
Payment”). The Company has the option to make the Final Payment in
either cash or shares of common stock of the Company with an aggregate value of
$75,000, based on the closing price of the Company’s common stock on May 18,
2010.
Item 9.01. Financial Statements and
Exhibits.
(c)
Exhibits
99.1
Press Release dated May 24, 2010.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: May 24, 2010
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ELITE
PHARMACEUTICALS, INC. |
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By:
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/s/
Chris Dick |
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Name:
Chris Dick |
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Title:
President
& Chief Operating Officer |
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