Elite Pharmaceuticals, Inc. · OTC:ELTP
Elite Pharmaceuticals — Investor Presentation (November 2005)
33 slides from Elite Pharmaceuticals's investor presentation, November 2005
Slide 1: Elite Pharmaceuticals, Inc.
Elite Pharmaceuticals, Inc. November 2005
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation contains forward looking statements which involve known and unknown risks, delays, uncertainties and other factors not under the Company’s control, which may cause actual results, performance or achievements of the Company to be materially different from t
Slide 3: Overview
Overview Specialty Pharmaceutical Company Engaged in the development, manufacturing and commercialization of oral controlled release (CR) drugs Focus on highly specialized and difficult-to-formulate oral controlled release drugs High barriers to entry aimed at niche market segments (ANDA’s,
Slide 4: Historical Perspective
Historical Perspective Elite was founded in 1990 Unique broad based controlled release drug delivery technology Early success developing controlled release drugs on a contract basis for large pharmaceutical clients (e.g. Celgene/Novartis) Elite publicly traded and listed on American Stock Ex
Slide 5: New Strategic Direction
New Strategic Direction In 2003, Elite replaces Chairman, CEO/President and installed new management team Changed composition of the Board Improved operating performance New commercial strategy focusing on: Pain Management utilizing controlled release products utilizing proprietary ART™
Slide 6: Management Team
Management Team Bernard Berk Over 30 years of experience in the field of pharmaceutical management Served as President and Chief Chairman & Executive Officer of Michael Andrews CEO Corporation from 1996 - 2003 Served as President and Chief Executive Officer of Nale Pharmaceuticals Corporation
Slide 7: Management Team
Management Team Dr. Charan Behl Joined Elite from Nastech Pharmaceutical Corporation – Executive Vice President of R&D from 1995 - 2001 Chief Scientific Served as research leader of the Pharmaceutical R&D Department of Hoffmann La Officer Roche from 1981 – 1994 Internationally known for his sci
Slide 8: Growth Strategy
Growth Strategy Focus: Pain Management Opioid abuse resistant technology Unique 24 hour drug delivery systems Expand, strengthen & optimize unique drug delivery platforms Balanced, Diversified portfolio of controlled release products Novel CR formulations NDAs, 505(b)2: Manage product
Slide 9: Elite's Technology
Elite’s Technology Oral multiparticulate release systems: Delayed, sustained release; e.g. once-a-day Pulsed release; e.g. double peak Targeted release Barrier Coatings (abuse resistant) Chrono release for circadian rhythms Taste Masking 9
Slide 10: Generic Product Strategy
Generic Product Strategy Selective focus: Highly specialized-difficult to formulate CR drugs High barriers to entry Complex legal / regulatory / manufacturing challenges Difficult raw material sourcing issues Niche therapeutic areas Narcotics (CII) Limited competition Higher margin
Slide 11: Product Pipeline
Product Pipeline Stage of Development Therapeutic Preclinical/ Pilot/ Pivotal/ Current U.S. Launch Product Category Research PK Phase III Status Partner Oxycodone Pilot Phase Pain No Once daily Completed Oxycodone Pilot Phase Pain No ART™ I Completed Lodrane 24 Allergy Launched Yes Allergy II Allerg
Slide 12: Strategic Alliances / Partnerships
Strategic Alliances / Partnerships Pliva - Development and license agreement to develop a controlled release anti-infective generic with a branded market in 2004 of approximately $90 million Harris Pharmaceuticals, Inc. and Tish Technologies - Development, manufacturing and distribution agreemen
Slide 13: Elite's Patents & Proprietary Processing Techniques
Elite’s Patents & Proprietary Processing Techniques 6 United States patents issued 3 United States patents pending 4 International patents pending 13
Slide 14: Facilities & Capabilities
Facilities & Capabilities Facilities Capabilities Offices & Labs Drug Formulation & Characterization 20,000 sq ft facility Process Optimization & Scale-up GMP suites for development and Methods development manufacturing Manufacturing and technology DEA registration transfer Biostudie
Slide 15: Pain Management Market
7 Pain Management Market
Slide 16: Pain Market
Pain Market Pain Most costly and significant health care issue Changing attitudes towards pain $19 billion pain market in 2004, $6.4 billion Opioid market Pain is still under treated Drug abuse controversies Medical professionals rethink prescribing practices Pharma pressure to devel
Slide 17: Pain Market: Large Opportunities
Pain Market: Large Opportunities “Drugs used to fight pain 5 – Year $ CAGR today essentially the Opioid 20% same as those used in Non-Opioid 14% ancient times” Treat symptoms – not disease Opioid abuse effecting the way we $6.4B treat patients $12.6B Need for better, safer pain medication more
Slide 18: Opioid Abuse Problem
Opioid Abuse Problem Most widely prescribed Opioid is OxyContin® Diversion of drug for non-medical purposes increased over 400% Abuse heightened by new generation high dose ER “Hillbilly heroin” How addicts abuse OxyContin® Euphoric high produced by breaking down CR mechanism Crush and
Slide 19: Approaches to Curb Opioid Abuse
Approaches to Curb Opioid Abuse Pharmacological Intervention Antagonist based (Naltrexone) Physical Deterrence (gummy based formulations) Formulations with polymers Makes crushing more difficult Pro drug, NCEs Create new drug entity Use of enzymes Others Irritants Resins 19
Slide 20: Elite's Approach
Elite’s Approach Antagonist / Agonist Concept: Co administration of beads in a capsule such that antagonist is released only when capsule is tampered with Challenges: Prevent leakage of Naltrexone in unaltered form (Elite has achieved very low release rates at LOQ of 7.5 pg/mL) 20
Slide 21: Pain Portfolio
Pain Portfolio 24 hour Oxycodone without ART™ 24 hour Oxycodone with ART™ 12 hour Oxycodone with ART™ Plus potential for: AB rated Oxycodone Ancillary Products Compete in twice daily OxyContin™ market of $2 billion per year 21
Slide 22: ART Summary
ART™ Summary ART™ worked in human subjects as intended Unaltered pellets did not release significant levels of Naltrexone Tampered/crushed pellets released significant levels of Naltrexone Limit of Quantitation (LOQ): 7.5 pcg/ml Intellectual Property Unique polymers and permeability Un
Slide 23: Elite's In Vivo Study Results
Elite’s In Vivo Study Results Unaltered/Intact pellets did not release significant levels of Naltrexone Tampered/crushed pellets release significant levels of Naltrexone No fed-fasted effects observed Both formulations performed similarly Plasma levels from two formulations were comparable
Slide 24: ART Intact Capsule Dissolutions Results
ART™ Intact Capsule Dissolutions Results RELEASE OF NALTREXONE AND OXYCODONE FROM UNALTERED 120.0 PELLETS USP Basket Method, 100 RPM, 900 mL Gradient Medium: pH 2.0 for 1hr; pH 4.5 for 2hr; pH 6.8 for 21hrs. 100.0 % Dissolved 80.0 60.0 40.0 OXYCODONE 20.0 NALTREXONE 0.0 0 4 8 12 Hours 24
Slide 25: ART - Crushed Pellets Dissolution Results
ART™ - Crushed Pellets Dissolution Results RELEASE OF NALTREXONE & OXYCODONE FROM CRUSHED PELLETS 120.0 USP Basket Method, 100 RPM, 900 mL, Gradient pH Media (pH 2.0 - pH 4.5 pH 6.8) 100.0 80.0 % Dissolved 60.0 40.0 OXYCODONE 10 SEC OXYCODONE 30 SEC OXYCODONE 60 SEC 20.0 NALTREXONE 10 SEC NALTREXONE
Slide 26: ART - Intact and Crushed Pellets Human Testing
ART™ - Intact and Crushed Pellets Human Testing 4000 BLOOD LEVELS (pg/mL 3500 3000 2500 tampered 2000 1500 1000 500 unaltered 0 0 5 10 15 20 25 TIME (hrs) Unaltered Antagonist Beads Do Not Release Tampered Antagonist Beads Release 26
Slide 27: No Release of Antagonist in Unaltered Pellets
No Release of Antagonist in Unaltered Pellets Fasting Conditions Table 1: Pharmacokinetic Evaluation of Undamaged Formulation 1 of Naltrexone HCl in Healthy Human in Volunteers Under Fasting Conditions - 24 Hour Blood Sampling; n = 12 Plasma Concentration, pg/mL; Subject Numbers Hrs 1 2 3 4 5 6 7 8
Slide 28: 24 hr Oxycodone (Once-a-day)
24 hr Oxycodone (Once-a-day) Products 24 hr Oxycodone without ART™ 24 hr Oxycodone with ART™ No once daily Oxycodone on market Current Status Phase I pharmacokinetic study completed 13 subject single dose 4 way cross over Patent filed Compiling IND 28
Slide 29: 24 hr Oxycodone versus OxyContin
24 hr Oxycodone versus OxyContin® Multiple Dose Oxycodone from IVIVC 30 Elite Oxycodone 25 Blood Level (ng/ml) 20 15 10 ® OxyContin 5 0 48 60 72 84 96 Time After Initial Dose (hr) •Based on IVIVC (correlation method using in vivo and in vitro data) •Steady state dosing (3rd and 4th day) •Therapeutic
Slide 30: Other Opioid Applications for ART
Other Opioid Applications for ART™ Morphine Hydromorphone Oxymorphone Hydrocodone 30
Slide 31: Recent Milestones
Recent Milestones Launched Lodrane 24, a branded Rx allergy product with ECR Pharmaceuticals. The oral antihistamine market in 2004 was approximately $3 billion. Manufactured commercial batches of Lodrane 24 Scaled-up second branded allergy product with an addressable market of approximately $
Slide 32: Recent Milestones
Recent Milestones A development and license agreement with Pliva to develop a controlled release anti-infective generic with a generic market in 2004 of approximately $90 million A development, manufacturing and distribution agreement with Harris Pharmaceuticals, Inc. and Tish Technologies to de
Slide 33: Company Summary
Company Summary Elite is poised for growth Modest current valuation Proven management team Clearly defined strategy Near term revenue expectations Committed shareholder base Balanced ANDA & NDA portfolio – low risk Strong IP and technology platform Licensing alliances in place Pr
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