Elite Pharmaceuticals, Inc. filed a Form 8-K on November 3, 2026, disclosing that its Board of Directors unanimously elected two new directors, Aqeel A. Fatmi, Ph.D., and John W. LaRocca, Esq., effective October 28, 2026.

Key Highlights

  • Board expanded: The Board increased in size from four to six directors to accommodate the two new elections.
  • New Class II director: Aqeel A. Fatmi, Ph.D., age 76, was elected as a Class II director, effective October 28, 2026.
  • New Class I director: John W. LaRocca, Esq., age 62, was elected as a Class I director, effective October 28, 2026.
  • Compensation aligned with peers: Both new directors will receive compensation in the same manner as other non-management directors, according to the filing.
  • No committee assignments yet: The Board has not yet named either director to any committee of the Board.
  • No related-party relationships: The filing states that neither director has a family relationship with any director or executive officer, nor is a party to any transaction requiring disclosure under Item 404(a) of Regulation S-K.

Board Expansion at Elite Pharmaceuticals: Fatmi and LaRocca Join as Directors

According to the Form 8-K filed with the SEC on November 3, 2026, by Elite Pharmaceuticals, Inc. (OTCQB:ELTP), the Board of Directors voted unanimously on October 28, 2026, to enlarge the Board from four to six members and to seat two new directors. Each will serve until the Company's next annual meeting of stockholders, and until a successor is duly elected and qualified or until earlier death, resignation, or removal, as the filing states.

The filing describes Aqeel A. Fatmi, Ph.D., as having "more than four decades of experience in the pharmaceutical and biopharmaceutical industry." His recent roles included serving as an operating advisor to Tennenbaum Capital Partners, LLC/BlackRock Inc. from June 2017 to August 2026, and as a consultant and advisor to Strides Pharma Inc. from April 2017 to April 2026. Earlier, he was Chief Scientific Officer of Patheon Inc. and Banner Life Sciences, and Global Head of Research and Development and Operations at Banner Pharmacaps from 2000 to 2012. Dr. Fatmi holds a Ph.D. in Medicinal Chemistry from the University of Georgia.

John W. LaRocca, Esq., is described in the filing as having "more than three decades of legal experience, including more than two decades in the pharmaceutical industry." He most recently served as Senior Vice President, General Counsel and Corporate Secretary of Y-mAbs Therapeutics, Inc. from January 2024 to October 2025. Prior roles included Vice President, General Counsel and Corporate Secretary of Aerie Pharmaceuticals, Inc. from 2018 to 2022, and Executive Vice President, General Counsel and Chief Legal and Compliance Officer of Eagle Pharmaceuticals, Inc. from 2015 to 2018. Mr. LaRocca holds a J.D. from Columbia Law School and a B.A. from Columbia College. The filing also notes that he has served as an independent director of BetterLife Pharma Inc. (CSE: BETR) since July 2026.

What Was Disclosed

Elite Pharmaceuticals reported the expansion of its Board from four to six members and the election of Aqeel A. Fatmi, Ph.D., and John W. LaRocca, Esq., as Class II and Class I directors, respectively, both effective October 28, 2026.