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Elite Pharmaceuticals, Inc.
Controlled release product completes phase I bioavailability study
May 14th, 2003
Elite Pharmaceuticals, Inc., (ELI) announced that the controlled release allergy product, developed by its wholly owned subsidiary Elite Laboratories, Inc., for a U.S. pharmaceutical company (partner), has successfully completed a phase I bioavailability study. The data demonstrated that the once-a-day formulation developed by Elite is bioequivalent to a more frequently dosed, currently marketed pharmaceutical product. Under the terms of the agreement, Elite has received upfront fees for the first phases of the development of the product and is entitled to receive fees in advance for each subsequent phase of development. In addition, upon FDA approval, Elite has the...
Source: Biotech Week (2003-05-14)
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