‘The application for an investigational new drug from Northvale-based Elite Pharmaceuticals (Amex: ELI) has been accepted by the U.S. Food and Drug Administration (FDA). Elite submitted the application to the FDA last month.

The drug, a once-daily oxycodone product called OxyQD, takes advantage of Elite’s proprietary sustained-release technology. Oxycodone is the generic version of the narcotic in OxyContin, the popular opioid-based product used to treat moderate and severe chronic pain.’

Read more at Elite Gets Drug Application Approval

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