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NORTHVALE, NJ / ACCESSWIRE / May 4, 2021 / Elite Pharmaceuticals, Inc. ( Elite or the Company ) (OTCBB:ELTP) announced today that its distribution and marketing partner Prasco, LLC ( Prasco ), has launched Elite s generic Loxapine capsules.
Elite entered a license, supply, and distribution agreement ( Agreement ) with Prasco for Elite s Abbreviated New Drug Application (ANDA) for Loxapine Succinate capsules, 5 mg, 10 mg, 25 mg, and 50 mg ( Loxapine Capsules ). Loxapine is indicated for the treatment of schizophrenia and is currently listed on the FDA drug shortage list.
Prasco will be the exclusive U.S. distributor for Loxapine capsules, which will be marketed under Burel Pharmaceutical s label. Under the Agreement, Prasco will provide sales, marketing, and distribution for the product, and Elite will manufacture the product.