December 4, 2009 (FinancialWire) — Elite Pharmaceuticals, Inc. (OTCBB: ELTP) and ThePharmaNetwork, LLC (TPN) announced the approval of an Abbreviated New Drug Application for methadone hydrochloride 10 mg tablets by the U.S. Food and Drug Administration .

Elite and TPN co-developed the product and the product was filed under ThePharmaNetwork name. The methadone hydrochloride tablets are the generic equivalent of the Dolophine(R) hydrochloride 10 mg tablets.

The product and its equivalents had annual sales of approximately $48 million in 2008. Under the Product Collaboration Agreement, Elite will manufacture the product and Elite and TPN will share in the profits from the sale of the product.

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