FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * DICK CHRIS   2. Issuer Name and Ticker or Trading Symbol ELITE PHARMACEUTICALS INC /DE/ [ELI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Executive VP of Corporate Dev. (Last) (First) (Middle) C/O ELITE PHARMACEUTICALS, INC., 165 LUDLOW AVENUE 3. Date of Earliest Transaction (Month/Day/Year) 11/13/2006 (Street) NORTHVALE, NJ 07647 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock               24,808 D (1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Option

$ 2.25

11/13/2006

A

250,000

11/13/2006

11/13/2016

Common Stock

250,000

$ 2.25

860,479

D

Option

$ 2.25

11/13/2006

A

300,000

(2)

11/13/2016

Common Stock

300,000

$ 2.25

860,479

D

Option

$ 2.25

11/13/2006

A

200,000

(3)

11/13/2016

Common Stock

200,000

$ 2.25

860,479

D

Option

$ 2.34

(4)

10/31/2012

Common Stock

30,000

860,479

D

Option

$ 2.21

(5)

06/13/2013

Common Stock

30,000

860,479

D

Option

$ 2.8

07/14/2005

07/14/2015

Common Stock

40,000

860,479

D

Warrants

$ 1.54

10/06/2004

10/06/2010

Common Stock

8,130

860,479

D (1)

Warrants

$ 3

04/26/2006

12/14/2010

Common Stock

2,349

860,479

D (1)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
DICK CHRIS C/O ELITE PHARMACEUTICALS, INC. 165 LUDLOW AVENUE NORTHVALE, NJ 07647			Executive VP of Corporate Dev.

Signatures

/s/ Chris Dick		11/15/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Mr. Dick and Hedy Rogers own as joint tenants.
(2)	They vest upon the closing of an exclusive product license for the United States national market, the entire European Union market or the Japan market or product sale transaction of all of the Company's ownership rights in the United States (only once for each individual product) for the Company's first "Non-Generic Opioid Drug" as to 150,000 options and for the Company's second "Non-Generic Opioid Drug" as to 150,000 options.
(3)	See Remarks
(4)	10,000 options vested November 1, 2003, 10,000 options vested November 1, 2004 and 10,000 options vested on November 1, 2005.
(5)	10,000 options vested June 13, 2004, 10,000 options vested June 13, 2005 and 10,000 options vested June 13, 2006.
Remarks: (3) They vest as follows: (i) upon the commencement of the first Phase III clinical trial relating to the first "Non-Generic  Opioid Drug" developed by the Company as to 125,000 options and relating to the second "Non-Generic Opioid Drug" developed  by the Company as to 75,000 options; (ii) 50,000 options upon the closing of an exclusive product license for the United  States national market or product sale transaction of all of the Company's ownership rights (on a product by product basis  and only once for each individual product) for each Company drug product, other than the "Non-Generic Opioid Drugs" for  which the foregoing "Non-Generic Opioid Drug" were granted under (i) above; (iii) 10,000 options upon the filing by the  Company (in the Company's name) with the United States Food and Drug Administration (the "FDA") of either an abbreviated new  drug application (an "ANDA") or a new drug application (including a NDA filed with the FDA (a "NDA"), for a product not  covered by a previous FDA application; (iv) 40,000 options upon the approval by the FDA of any ANDA or NDA (filed in the  Company's name) for a product not previously approved by the FDA; (vi) 25,000 options upon filing of an application for U.S.  patent by the Company (filed in the Company's name); and (vi) 25,000 options upon the granting by U.S. Patent and Trademark  Office of a patent to the Company (filed in the Company's name).

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