On September 5, 2022, Elite Pharmaceuticals, Inc. entered into an employment agreement with Kirko Kirkov to serve as the Registrants' Chief Commercial Officer effective September 6, 2022. Mr. Kirkov joins Elite as an accomplished and multi-faceted leader with more than twenty years of in-depth business development skills across international pharmaceutical organizations. Before joining the Registrant, Mr. Kirkov served as General Manager of Vertice Pharma, a specialty generics pharmaceutical company, from February 2020 to present.

From April 2008 to February 2020, Mr. Kirkov was employed by Sandoz and served in positions of increasing responsibilities beginning with Country Head & Managing Director of Bulgaria from 2008 to 2011. From 2011 to 2013, Mr. Kirkov served as Sandoz's Business Unit Head, Branded Prescription Generics in Russia, and most recently, from January 2013 to February 2020, served as Sandoz's Executive Director, Commercial Operations. Mr. Kirkov brings with him a broad range of experience in the areas of business development, operationalization of commercial strategy, and implementation of retail and wholesale channel sales operations, having overseen sales portfolios consisting of 400+ product families, and 1500+ SKUs covering both generic and branded products.

Mr. Kirkov has a Bachelor of Science in Mechanical Engineering /Engineering Management from the University of Ottawa, two Masters of Science degrees respectively in Naval Architecture and Ocean Systems Management from the Massachusetts Institute of Technology, a Masters of Science in Applied Positive Psychology and Coaching from the University of East London, and an MBA from the University of Durham. Mr. Kirkov joins Elite in a newly created position to oversee the sale and marketing of commercial products not under license under Elite's label.