SOURCE: The Bedford Report

The Bedford Report

August 10, 2011 08:16 ET

Long Term Prospects Bright for Avanir and Elite Pharmaceuticals Despite Recent Pullback

The Bedford Report Provides Equity Research on Avanir Pharmaceuticals & Elite Pharmaceuticals

NEW YORK, NY--(Marketwire - Aug 10, 2011) - Shares throughout the biotechnology sector have been exceptionally volatile of late as developments regarding government approvals, litigation, and discoveries continue elicit large movements in stock prices. The Bedford Report examines the outlook for companies in the healthcare sector and provides investment research on Avanir Pharmaceuticals (NASDAQ: AVNR) and Elite Pharmaceuticals, Inc. (OTCBB: ELTP). Access to the full company reports can be found at:

The importance of maintaining a steady pipeline of drugs to market is having varied effects on the biotechnology industry. Analysis by the professional services firm BDO argues that larger Pharmaceutical firms are increasing reliance on biotech companies to fill its pipeline, which has been a net positive for small biotech companies.

According to Thomson Reuters, on average biotech companies in the NASDAQ Biotechnology Index (NBI) spent $54 million on R&D in 2010, reflecting a 7 percent decline from 2009.

The Bedford Report releases market research on the healthcare sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Avanir Pharmaceuticals is working on Nuedexta for the treatment of pseudobulbar affect and AVP-923, which has completed Phase III trial for the treatment of patients with diabetic peripheral neuropathic pain, as well as AVP-923, which is in phase I clinical trials for the treatment of MS-related pain. Earlier this week the company said total net revenues for the quarter ended June 30, 2011 totaled $2.5 million, compared with $487,000 for the comparable quarter in 2010. Total net revenues include recognized deferred royalty revenue and Nuedexta revenue.

Elite Pharmaceuticals is a specialty pharmaceutical company principally engaged in the development and manufacture of oral, controlled-release products, using technology. The company is set to post fiscal first quarter earnings next week. For the fiscal year ended March 31, 2011 the company posted consolidated revenues of $4.3 million -- an increase of 28% over last year's revenues of $3.3 million.

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