ELITE ANNOUNCES PROMISING RESULTS ON ABUSE RESISTANT TECHNOLOGY FOR NARCOTIC ANALGESICS

Elite Pharmaceuticals has announced that its subsidiary, Elite Laboratories, has received promising results from a clinical program designed to test the company's proprietary abuse resistant technology (ART) for narcotic analgesics, such as OxyContin, utilizing naltrexone as a narcotic antagonist.

The pilot pharmacokinetic studies were conducted during the fourth quarter of 2004 on 12 healthy human volunteers. Test subjects were given a single dose of naltrexone formulated with the company's ART and the subjects' blood was then tested for naltrexone.

The first study was designed to evaluate the pharmacokinetics of the company's lead formulation when it was administered to the subjects in its unaltered form and after it was physically altered by crushing. Results from the study are consistent with the premise of Elite's ART, according to which, no naltrexone is to be released and absorbed unless the formulation is physically damaged.

A second study was designed to evaluate the effect of food on the absorption of naltrexone. The subjects were given a standard meal prior to administering the company's lead formulation. Blood samples were drawn for a 24-hour period and tested for naltrexone levels. A third study was designed to observe the blood levels of Naltrexone for seven days following dosing under fed conditions in six subjects.

The company believes that the results from these pilot studies support the concept behind the development of its proprietary abuse resistant technology for narcotic analgesics. Elite Labs plans to continue the clinical program on its abuse resistance properties of naltrexone formulated utilizing the company's ART.