Pharmaceutical acquisitions have more doubled since in 2014 compared to last year; IMHO will continue until the ACA (Affordable Care Act) March 31 deadline.
I noticed recently once a successful product has been patented it’s cheaper to buy the company outright (acquire) than to do R&D or compete against it.
A recent blog and current Bloomberg chatter implies ELTP may be involved in a quite private acquisition. FMV for ELTP at $3.50 with a 22% probability for current insider control. The 2/25/14 insider FORM 4 “Box 4. Securities Acquired (A)” with over 3.2M share acquired between .09 and .11 seems to support that theory.
Third party bidding could easily bring ELTP into year 2000 price range again $11 to $22 (wishful thinking on my part).
I’m long and have been adding including yesterday’s dip on profit taking.
Good luck and have a great weekend.
“Mr. Nasrat Hakim has been the Chief Executive Officer and President of Elite Pharmaceuticals, Inc. since August 2, 2013. Mr. Hakim has more than 30 years of pharmaceutical and medical industry experience in Quality Assurance, Analytical Research and Development, Technical Services and Regulatory Compliance. He has a proven management experience, in-depth knowledge of manufacturing systems, development knowledge in immediate and extended release formulations and extensive regulatory experience of GMP and FDA regulations. He served as a Vice President of Quality Compliance and Technical Services at Actavis, Inc. Mr. Hakim served as Vice President of Quality of Alexza Pharmaceuticals Inc. since July 18, 2007. Mr. Hakim served as Corporate Vice President of Quality and Compliance for Actavis / Alpharma Inc., and previously served as Global Vice President of Compliance for Alpharma, where he was employed from 2004 to 2007. He serves as a Director at Elite Pharmaceuticals, Inc. Mr. Hakim has also served as Executive Director of Corporate Compliance and Technical Projects for Watson Pharmaceuticals and Executive Director, Site Head of Quality and Compliance at TheraTech, Inc. Watson Pharmaceuticals acquired TheraTech in 1999. Mr. Hakim holds both a JD and BS in Law from Saratoga University in San Jose, California, a Masters degree (LLM) in Law from St. Thomas University in Miami, Florida and Bachelors and Masters degrees in Chemistry from California State University at Sacramento.”
Not sure why anyone would attempt to blemish another person’s reputation posting lies on a public board.
The facts are out there, I do my own research and practice my own action steps with my money.
Long and strong and OH SOO GREEN!
Per Item 1. Security and Issuer
“This Schedule 13D/A constitutes the first amendment to the Schedule 13D originally filed by the Reporting Persons with the Securities and Exchange Commission (the “SEC”) on November 23, 2013…”
A Schedule 13D is an SEC filing that must be submitted to the US Securities and Exchange Commission within 10 days, by anyone who acquires beneficial ownership of more than 5% of any class of publicly traded securities in a public company. A filer must promptly update its Schedule 13D filing to reflect any material change in the facts disclosed, including, among other things, the acquisition or disposition of 1% or more of the class of securities that are the subject of the filing.
If you are long or have recently opened a position in UBRG I suggest you go to your brokerage account’s research since the 11/23/13 and more recent 1/3/14 filings have not yet been posted on Yahoo.
Took some losses here mid November 2013 and reopened last week of December, avoiding a wash sale.
Long again and waiting for better times ahead.
Warm up and Happy New Year!