Elite Pharmaceuticals Expands Board of Directors with Election of Aqeel A. Fatmi, Ph.D., and John W. LaRocca, Esq.

(OTCQB:ELTP) Elite Pharmaceuticals, Inc. announced that on October 28, 2026, its Board of Directors increased the size of the Board from four to six directors. The Board unanimously elected Aqeel A. Fatmi, Ph.D., and John W. LaRocca, Esq. as new directors. Nasrat Hakim, President, Chief Executive Officer and Chairman of the Board, stated that Dr. Fatmi brings decades of experience in pharmaceutical research, development, operations, and M&A transactions, while Mr. LaRocca brings extensive experience in the generic drug industry, public company governance, M&A transactions, and compliance. Aqeel A. Fatmi, Ph.D., has more than four decades of experience in the pharmaceutical and biopharmaceutical industry, including leadership and advisory roles in drug discovery, development and delivery, global manufacturing operations, supply chain management, and corporate governance. Dr. Fatmi has served as an independent strategic and technical advisor to pharmaceutical companies and investors, including Tennenbaum Capital Partners, LLC/BlackRock Inc. and Strides Pharma. In 2016 and 2017, he served as Operating Executive Vice President of Epic Pharma LLC and, as technical advisor to Humanwell Healthcare (Group) Co., Ltd., led the integration of Epic's technical and operations functions following Humanwell's acquisition of Epic. He previously served as Chief Scientific Officer of Patheon Inc. and Banner Life Sciences from 2013 to 2016, following Patheon's acquisition of Banner Pharmacaps in 2012. From 2000 to 2012, he was Global Head of Research and Development and Operations at Banner Pharmacaps. Earlier, he founded and directed the Combinatorial Chemistry Center at Georgia State University and was Senior Vice President, U.S. Research and Development, at Solvay Pharmaceuticals, Inc. Dr. Fatmi is an inventor on more than two dozen patents in drug delivery technologies and has authored or presented more than sixty publications and scientific presentations. Dr. Fatmi holds a Ph.D. in Medicinal Chemistry from the University of Georgia and completed a National Science Foundation postdoctoral fellowship there. John W. LaRocca, Esq., has more than three decades of legal experience, including more than two decades in the pharmaceutical industry, with a focus on generic and specialty pharmaceutical companies. He served as Senior Vice President, General Counsel, and Corporate Secretary of Y-mAbs Therapeutics, Inc. from January 2024 to October 2025, during which he oversaw the company's 2025 sale to SERB Pharmaceuticals. He was Vice President, General Counsel and Corporate Secretary of Aerie Pharmaceuticals, Inc. from 2018 to 2022, and Executive Vice President, General Counsel, and Chief Legal and Compliance Officer of Eagle Pharmaceuticals, Inc. from 2015 to 2018. From 2005 to 2014, he held senior legal positions at Actavis, including Chief Legal Officer of Actavis, Inc. and Vice President, Legal Affairs-Americas and Deputy General Counsel of Actavis plc. Earlier, he was Divisional Counsel to Alpharma Inc.'s U.S. Generics Division. Mr. LaRocca is the founder of LaRocca Advisory Services, which provides advisory services to healthcare and life sciences companies. He has served as an independent director of BetterLife Pharma Inc. (CSE:BETR) since July 2026. Mr. LaRocca holds a J.D. from Columbia Law School and a B.A. from Columbia College and is admitted to practice in New York and New Jersey.

Elite Pharmaceuticals, Inc. Reports Financial Results for the First Quarter of Fiscal Year 2027 Ended June 30, 2026 and Provides Conference Call Information

(OTCQB: ELTP) Elite Pharmaceuticals, Inc. announced results for the first quarter of fiscal year 2027 ended June 30, 2026. Consolidated revenues for the three-month period ending June 30, 2026, were $32.4 million, a decrease of $7.9 million or approximately 19.5% as compared to the same period of the prior fiscal year. Income from operations were $7.5 million, a decrease of $14.2 million or approximately 65%, as compared to the same period of the prior fiscal year. Net income attributable to common shareholders was $5.9 million. Elite's management will host a conference call to discuss the First Quarter of Fiscal Year 2027 financial results and provide an update on recent business developments on August 14, 2026 at 11:30 AM EDT.

Elite Pharmaceuticals Announces Commercial Launch of Generic Requip XL

(OTCQB: ELTP) Elite Pharmaceuticals, Inc. announced the launch of Elite's generic version of Requip XL® (Ropinirole Extended-Release Tablets USP), available in strengths of 2 mg, 4 mg, 6 mg, 8 mg, and 12 mg tablets. The product is marketed and sold under the Elite Laboratories, Inc. label. According to IQVIA, the branded product and its equivalents had total U.S. sales of $10 million for the twelve months ending June 2026. Elite Pharmaceuticals, Inc. develops, manufactures, and distributes oral, controlled-release drug products and owns multiple generic products distributed nationwide. The company operates a cGMP and DEA-registered research, development, and manufacturing facility in Northvale, NJ. The press release contains forward-looking statements regarding the expected timing of approval, if at all, of products by the FDA, and the actions the FDA may require of Elite in order to obtain such approvals. Elite is under no obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Elite Pharmaceuticals, Inc. Reports Financial Results for the Fiscal Year Ended March 31, 2026 and Provides Conference Call Information

(OTCQB: ELTP) Elite Pharmaceuticals, Inc. announced results for the fiscal year ended March 31, 2026, reporting consolidated revenues for Fiscal 2026 of $148.9 million, an increase of $64.8 million or approximately 77% as compared to the comparable period of the prior fiscal year. Income from operations was $49.1 million, an increase of $29.5 million or approximately 151% from the comparable period of the prior year. The increase in income from operations was primarily attributed to Elite’s Lisdexamfetamine, initially launched at the end of the prior fiscal year, having a full year contribution, revenues from Oxycodone Acetaminophen tablets launched during Fiscal 2026, combined with Naltrexone tablets and Phentermine tablets being launched exclusively under the Elite label during Fiscal 2026 and strong overall growth throughout the Elite label product lines. Elite’s management will host a conference call to discuss the year-end 2026 financial results and provide an update on recent business developments on June 30, 2026 at 11:30 AM EDT. Dial-in numbers for the call are 1-800-346-7359 (domestic) and 1-973-528-0008 (international), with conference number 98840. Financial questions should be submitted by 7:00 PM EDT on Monday, June 29, 2026. The financial statements can be viewed for Elite's Fiscal Year 2026 on Form 10-K.

Elite Pharmaceuticals Reports Positive Results from a Pivotal Bioequivalence Study

(OTCQB:ELTP) Elite Pharmaceuticals, Inc. reported positive results from a pivotal bioequivalence study for an undisclosed anticonvulsant generic drug product. IQVIA reported branded and generic product sales for the twelve months ending April 2026 of $840 million. The studies conducted were open-label, randomized, balanced, single oral dose, two-treatment, two-period, two-sequence, crossover bioequivalence studies in normal, healthy, adult, human subjects under fasting conditions. The results indicated that the generic product is bioequivalent to the branded product. Elite is compiling the data for this product to file an Abbreviated New Drug Application with the US Food and Drug Administration. Elite operates a cGMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ. Elite's product lines consist of immediate-release and controlled-release, solid oral dose products, which are marketed under the Elite Laboratories label, as well as pursuant to licenses granted to third-party pharmaceutical marketing and distribution organizations.

Elite Pharmaceuticals Announces Filing of Abbreviated New Drug Application with the U.S. Food and Drug Administration for Generic Anticoagulant Product

(OTCQB:ELTP) Elite Pharmaceuticals, Inc. announced that it has submitted an Abbreviated New Drug Application (ANDA) to the U.S. Food and Drug Administration (FDA) for a generic drug product in the class of medications called anticoagulants. IQVIA reported branded product sales for the twelve months ending March 2026 of $26 billion. There is no generic product on the market, and the brand has unexpired patents and exclusivity listed in the FDA's Approved Drug Products with Therapeutic Equivalence (Orange Book). Elite operates a cGMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ. Elite's product lines consist of immediate-release and controlled-release, solid oral dose products, which are marketed under the Elite Laboratories label, as well as pursuant to licenses granted to third-party pharmaceutical marketing and distribution organizations. The company projects that FDA approval and commercialization of a generic product depend on successful filing, FDA approval and addressing the unexpired patents and exclusivities. These forward-looking statements may include statements regarding the expected timing of approval, if at all, of products by the FDA and the actions the FDA may require of Elite in order to obtain such approvals.