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EXCHANGE COMMISSION**\n\n**Washington,\nD.C. 20549**\n\n \n\n**FORM\n10-K**\n\n \n\n**(Mark\nOne)**\n\n** **\n\n**☒**\n**ANNUAL\nREPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**For\nthe fiscal year ended March 31, 2026**\n\n \n\n**OR**\n\n \n\n**☐**\n**TRANSITION\nREPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**FOR THE TRANSITION PERIOD FROM\n                     TO                     **\n\n \n\n**Commission\nFile Number 001-15697**\n\n \n\n**Elite\nPharmaceuticals, Inc.**\n\n**(Exact\nname of Registrant as specified in its Charter)**\n\n \n\n**Nevada**\n \n**22-3542636**\n\n**(State\nor other jurisdiction of**\n\n**incorporation\nor organization)**\n\n \n\n**(I.R.S.\nEmployer**\n\n**Identification\nNo.)**\n\n \n\n**165\nLudlow Avenue**\n\n**Northvale,\nNew Jersey**\n\n \n**07647**\n\n**(Address\nof principal executive offices)**\n \n**(Zip\nCode)**\n\n \n\n**Registrant’s\ntelephone number, including area code: (201) 750-2646**\n\n \n\n \n\n \n\nSecurities\nregistered pursuant to Section 12(b) of the Act:\n\n \n\n**Title\nof each class**\n \n\n**Trading\nSymbol(s)**\n\n \n**Name\nof each exchange on which registered**\n\n**Common\nStock, par value $0.001 per share**\n \n**ELTP**\n \n**OTCQB**\n\n \n\nSecurities\nregistered pursuant to Section 12(g) of the Act: **None**\n\n \n\nIndicate\nby check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ☐ NO ☒\n\n \n\nIndicate\nby check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. YES ☐ NO ☒\n\n \n\nIndicate\nby check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2)\nhas been subject to such filing requirements for the past 90 days. YES ☒ NO ☐\n\n \n\nIndicate\nby check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant\nwas required to submit such files). YES ☒ NO ☐\n\n \n\nIndicate\nby check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company,\nor an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller\nreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge\naccelerated filer\n \n☐\n \nAccelerated\nfiler\n \n☐\n\n \n \n \n \n\nNon-accelerated\nfiler\n \n☒\n \nSmaller\nreporting company\n \n☒\n\n \n \n \n \n \n \n \n\nEmerging\ngrowth company\n \n☐\n \n \n \n \n\n \n\nIf\nan emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate\nby check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness\nof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered\npublic accounting firm that prepared or issued its audit report. ☐\n\n \n\nIf\nsecurities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant\nincluded in the filing reflect the correction of an error to previously issued financial statements. ☐\n\n \n\nIndicate\nby check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation\nreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\n\n \n\nIndicate\nby check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES ☐ NO ☒\n\n \n\nThe\naggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant, based on the closing\nprice of the shares of common stock on the last business day of the registrant’s most recently completed second fiscal\nquarter, was approximately $534 million, based on the last\nsales price reported for such date on the OTCQB Venture Market.\n\n \n\nThe\nnumber of shares outstanding of each of the registrant’s classes of common stock, as of June 27, 2026:\n\n \n\nCommon Stock - 1,077,196,442 shares\n\n \n\n \n\n \n\n \n\n \n\n \n\nFORWARD\nLOOKING STATEMENTS\n\n \n\n*This\nAnnual Report on Form 10-K and the documents incorporated herein contain “forward-looking statements” within the meaning\nof Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange\nAct of 1934, as amended (the “Exchange Act”). Such forward-looking statements involve known and unknown risks, uncertainties\nand other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially\ndifferent from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in\nthis report, statements that are not statements of current or historical fact are forward-looking statements, and include, without limitation,\nestimated future results of operations, estimates of future revenues, future expenses, future net income and future net income per share,\nas well as statements regarding future financing activities, changes in consumer spending, decisions to engage in certain medical procedures,\nfuture governmental orders that could impact our operations and the ability of our manufacturing facilities and suppliers to fulfill\ntheir obligations to us, and any other statements that refer to our expected, estimated or anticipated future results. Without limiting\nthe foregoing, the words “plan”, “intend”, “may,” “will,” “expect,” “believe”,\n“could,” “would”, “continue”, “pursue”, “anticipate,” “estimate,”\n“forecast”, “contemplate”, “envisage”, “project”, or “continue” or the negative\nother variations thereof, or similar expressions or other variations or comparable terminology are intended to identify such forward-looking\nstatements. All statements other than statements of historical fact included in this report regarding our financial position, business\nstrategy and plans or objectives for future operations are forward-looking statements. Without limiting the broader description of forward-looking\nstatements above, we specifically note, without limitation, that statements regarding the preliminary nature of the clinical program\nresults and the potential for further product development, that involve known and unknown risks, delays, uncertainties and other factors\nnot under our control, the requirement of substantial future testing, clinical trials, regulatory reviews and approvals by the United\nStates Food and Drug Administration (“FDA”) and other regulatory authorities prior and subsequent to the commercialization\nof products under development and those currently related to commercial operations, our ability to fund all of our activities and our\nability to manufacture and sell any products, gain market acceptance earn a profit from sales or licenses of any drugs or our ability\nto discover new drugs in the future are all forward-looking in nature.*\n\n \n\n*We\ndo not undertake any obligation to update our forward-looking statements after the date of this document for any reason, even if new\ninformation becomes available or other events occur in the future, except as may be required under applicable securities law. You are\nadvised to consult any further disclosures we make on related subjects in our reports filed with the Securities and Exchange Commission\n(the “SEC”). Also, please note that in Part 1, Item 1A, we provide a cautionary discussion of the risks, uncertainties and\npossibly inaccurate assumptions relevant to our business. These are factors that, individually or in the aggregate, we think could cause\nour actual results to differ materially from expected and historical results. We note these factors for investors as permitted by Section\n27A of the Securities Act and Section 27E of the Exchange Act. You are notified and should understand that it is not possible to predict\nor identify all such factors and consequently should not consider this to be a complete, all-inclusive discussion of all potential risks\nor uncertainties.*\n\n** **\n\n \n\n \n\n** **\n\n**Table\nof Contents**\n\n \n\n \n \n**PAGE**\n\n[PART I](#ta_001)\n \n1"}