UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
December 12, 2005
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Date of Report (Date of earliest event reported)
ELITE PHARMACEUTICALS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 333-45241 22-3542636
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
165 Ludlow Avenue, Northvale, New Jersey 07647
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(Address of principal executive offices)
(201) 750-2646
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(Registrant's telephone number, including area code)
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(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. MATERIAL AGREEMENTS
On December 12, 2005, the Registrant, Elite Laboratories, Inc., a Delaware
corporation and wholly-owned subsidiary of the Registrant ("Elite Labs") and
IntelliPharmaCeutics Corp. ("IPC") entered into an agreement (the "Agreement")
to amend their obligations under that certain Product Development and
Commercialization Agreement, dated as of June 21, 2005 (the "IPC Agreement"),
among the Registrant, Elite Labs and IPC with respect to the development and
commercialization of the controlled release drug product in Canada. Since, IPC
intends to enter into an agreement with a Canadian company with respect to the
development, distribution and sale of the drug product in Canada, the parties
agree to suspend their obligations under the IPC Agreement with respect to the
development and commercialization of the controlled release drug product in
Canada. IPC agrees to pay the Registrant a certain percentage of any payments
received by IPC with respect the commercialization of the Controlled release
drug product by such Canadian company. The term of this Agreement is the
duration of the third party agreement with IPC. A copy of the Agreement is
attached hereto as exhibit 10.1
Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS
a) Not applicable.
b) Not applicable.
c) Exhibits
10.1 Agreement, dated December 12, 2005, by and among the Registrant,
Elite Laboratories, Inc., and IntelliPharmaCeutics Corp.*
* The Registrant has requested confidential treatment with respect to the
referenced exhibit. In the event that the Securities and Exchange Commission
should deny such request in whole or in part, such exhibit or the relevant
portions thereof shall be filed by amendment to this Current Report on Form 8-K.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: December 12, 2005
ELITE PHARMACEUTICALS, INC.
By: /s/ BERNARD BERK
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Name: Bernard Berk
Title: Chief Executive Officer
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