Elite Pharmaceuticals, Inc. (OTCQB: ELTP) has secured FDA approval for its generic version of Vyvanse (Lisdexamfetamine Dimesylate) capsules, marking a significant milestone for the specialty pharmaceutical company. The approval, granted under an Abbreviated New Drug Application (ANDA), allows Elite to manufacture and distribute the generic drug in strengths of 10 mg, 20 mg, 30 mg, 40 mg, 50 mg, 60 mg, and 70 mg.
Addressing ADHD with a Generic Alternative
The newly approved Lisdexamfetamine Dimesylate capsules are indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD). This condition affects millions of individuals, and the availability of a generic alternative to Vyvanse offers a potentially more affordable option for patients and healthcare providers.
Market Impact and Sales Data
According to IQVIA, the combined annual sales for both the brand-name Vyvanse and its generic equivalents reached $4.3 billion for the twelve months ending in September 2024. This demonstrates the substantial market demand for Lisdexamfetamine Dimesylate products, highlighting the potential impact of Elite's newly approved generic version.
Elite Pharmaceuticals' Focus
Elite Pharmaceuticals, Inc. specializes in the development, manufacture, and distribution of niche generic products. Their 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. The company operates a cGMP and DEA registered facility in Northvale, NJ, dedicated to research, development, and manufacturing.
