Elite Pharmaceuticals, Inc. (OTCQB: ELTP) has secured FDA approval for its generic version of Vyvanse (Lisdexamfetamine Dimesylate), marking a significant milestone for the specialty pharmaceutical company. The Abbreviated New Drug Application (ANDA) approval allows Elite to manufacture and distribute Lisdexamfetamine Dimesylate capsules in strengths of 10 mg, 20 mg, 30 mg, 40 mg, 50 mg, 60 mg, and 70 mg.
Treatment for ADHD
The generic Lisdexamfetamine Dimesylate is indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD). ADHD is a neurodevelopmental disorder affecting millions of individuals, characterized by inattention, hyperactivity, and impulsivity. Effective management of ADHD often involves pharmacological interventions, with Lisdexamfetamine Dimesylate being a commonly prescribed option.
Market Impact
The approval arrives at a time when the market for ADHD medications is substantial. According to IQVIA data, the combined annual sales for both the brand-name and generic versions of Lisdexamfetamine Dimesylate reached $4.3 billion for the twelve-month period ending in September 2024. This indicates a significant demand for this medication, and Elite's entry into the market is poised to capture a share of this substantial revenue.
Elite Pharmaceuticals
Elite Pharmaceuticals, Inc., based in Northvale, NJ, specializes in the development, manufacture, and distribution of niche generic products. The company's portfolio includes immediate-release and controlled-release solid oral dose products, marketed under the Elite Laboratories label and through licensing agreements with third-party organizations. Elite operates a cGMP and DEA registered facility for research, development, and manufacturing.
