NORTHVALE, NJ/ACCESSWIRE/May 11, 2022/ Elite Pharmaceuticals, Inc. (“Elite” or the “Company”) (OTCQB: ELTP), a specialty pharmaceutical company developing and manufacturing niche generic products, today announced the appointment of Robert Chen, CPA/ MPA, as Chief Financial Officer (CFO), as of May 16, 2022, succeeding Marc Bregman.

Mr. Chen joins Elite with extensive experience in financial and operational leadership for life science companies, private and public, ranging from preclinical development to commercial operations. Mr. Chen brings with him extensive and diverse financial leadership experience in the areas of financial reporting, including manufacturing, financial and cost accounting, SEC, GAAP and IFRS, as well as planning and analysis. financial.

Robert is an outstanding addition to our leadership team as a seasoned public company CFO with over 20 years of operational experience,” said Nasrat Hakim, President and CEO of Elite. “The Board and I look forward to working with Robert.

Mr. Chen previously held positions as CFO, VP Finance and Corporate Controller, mainly in the life science industry. Mr. Chen recently served as Vice President of Finance for KBP Biosciences, a clinical-stage biotech start-up. Mr. Chen has also held finance positions at Bradley Pharmaceuticals, Novartis, Victory Commercial Management, Medimetriks Pharmaceuticals and Taiho Oncology.

Mr. Chen holds a Bachelor of Science in Business Administration, Accounting and a Masters in Professional Accounting from the University of Southern Mississippi. He is a Certified Public Accountant (CPA).

About Elite Pharmaceuticals, Inc.

Elite Pharmaceuticals, Inc. is a specialty pharmaceutical company that develops niche generic products. Elite specializes in the development and manufacturing of controlled release oral medications. Elite owns several generic products which have been licensed to Lannett Company, Glenmark Pharmaceuticals, Inc. and TAGI Pharma. Elite operates a cGMP and DEA registered facility for research, development and manufacturing located in Northvale, NJ.

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, those relating to the effects, if any, on future results, performance or other expectations that may have some correlation with the subject of this press release. Readers are cautioned that these forward-looking statements involve, but are not limited to, risks, uncertainties and other factors beyond Elite’s control, which may cause actual results, performance or achievements to be Elite materially different results, performance, or other expectations that may be implied by such forward-looking statements. These forward-looking statements may include statements regarding the expected timing of FDA approvals, if any, of products, and actions the FDA may require Elite to obtain such approvals. These forward-looking statements are not guarantees of future actions or performance. These risks and other factors are discussed, without limitation, in Elite’s filings with the Securities and Exchange Commission, including its reports on Forms 10-K, 10-Q and 8-K. Elite undertakes no obligation to update or change its forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:
For Elite Pharmaceuticals, Inc.
Dianne Will, Investor Relations, 518-398-6222
[email protected]

www.elitepharma.com

THE SOURCE: For Elite Pharmaceuticals, Inc.

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