NORTHVALE, N.J., April 7, 2011 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc. ("Elite") (OTCBB:ELTP) announced today that the initial shipment of phentermine HCl 37.5 mg tablets, the generic version of Adipex-P® 37.5 mg tablets, was made, triggering a milestone payment under the License, Manufacturing and Supply Agreement with Precision Dose and its wholly owned subsidiary TAGI Pharma, Inc. TAGI Pharma will distribute the product as part of a multi-product distribution agreement.
