{"url_path":"/sec/eltp/10-k/2026/item-13","section_key":"item-13","section_title":"Item 13 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-06-29","source_url":"https://www.sec.gov/Archives/edgar/data/1053369/0001493152-26-031070-index.html","accession_number":"0001493152-26-031070","cik":"0001053369","ticker":"ELTP","issuer_name":"ELITE PHARMACEUTICALS INC /NV/","edgar_url":"https://www.sec.gov/Archives/edgar/data/1053369/0001493152-26-031070-index.html","primary_entity_key":"0001053369","primary_entity_name":"ELITE PHARMACEUTICALS INC /NV/"},"word_count":289,"has_tables":true,"body_markdown":"**ITEM\n13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE**\n\n** **\n\n**Certain\nRelated Person Transactions**\n\n** **\n\nIn\nMay 2020, Praxgen, under an asset purchase agreement, assigned its rights and obligations under the Praxgen Agreement for Amphetamine\nIR and Amphetamine ER to Mikah. The ANDAs for Amphetamine IR and Amphetamine ER are now registered under Elite’s name. Mikah is\nnow Elite’s partner with respect to Amphetamine IR and ER and has assumed all the rights and obligations for these products from\nPraxgen. Mikah was founded in 2009 by Nasrat Hakim, the Company’s President, Chief Executive Officer and Chairman of the Board\nof Directors.\n\n \n\n**Director\nIndependence**\n\n** **\n\nAll\nrelated person transactions are reviewed and, as appropriate, may be approved or ratified by the Board of Directors. If a Director is\ninvolved in the transaction, he or she may not participate in any review, approval, or ratification of such transaction. Related person\ntransactions are approved by the Board of Directors only if, based on all of the facts and circumstances, they are in, or not inconsistent\nwith, our best interests and the best interests of our stockholders, as the Board of Directors determines in good faith. The Board of\nDirectors takes into account, among other factors it deems appropriate, whether the transaction is on terms generally available to an\nunaffiliated third-party under the same or similar circumstances and the extent of the related person’s interest in the transaction.\nThe Board of Directors may also impose such conditions as it deems necessary and appropriate on us or the related person in connection\nwith the transaction.\n\n \n\nIn\nthe case of a transaction presented to the Board of Directors for ratification, the Board of Directors may ratify the transaction or\ndetermine whether rescission of the transaction is appropriate."}