FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF 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 *   APFEL STUART CHARLES 2. Date of Event Requiring Statement (Month/Day/Year) 01/03/2008 3. Issuer Name and Ticker or Trading Symbol ELITE PHARMACEUTICALS INC /DE/ [ELI] (Last) (First) (Middle) C/O ELITE PHARMACEUTICALS INC, 165 LUDLOW AVE 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Medical Officer 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) NORTHVALE, NJ 07647 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 Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option	01/03/2008	  (1)	Common Stock	120,000	$ 1.75	D	Â
Option	  (2)	  (1)	Common Stock	280,000	$ 1.75	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
APFEL STUART CHARLES C/O ELITE PHARMACEUTICALS INC 165 LUDLOW AVE NORTHVALE, NJ 07647	Â	Â	  Chief Medical Officer	Â

Signatures

/s/ Stuart Apfel		01/03/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(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)	January 3, 2018 or (ii) a date 90 days following the date of the termination of the Reporting Person's employment by the Company or a subsidiary or after cessation of the Reporting Person's relationship with the Company or an affiliate thereof.
(2)	80,000 shares upon the successful completion, as determined by the Board of Directors, of a Company sponsored Phase III clinical trial of the Company's developmental drug product referred to as ELI-216; 80,000 shares upon the successful completion, as determined by the Board of Directors, of a Company sponsored Phase III clinical trial of the Company's developmental drug product referred to as ELI-154; 80,000 shares upon the successful completion, as determined by the Board of Directors, by the Company during the term of the Employment Agreement, dated as of January 3, 2008, between the Reporting Person and the Company, of a Company sponsored long-term safety study for the Company's developmental drug product referred to as ELI-216; and 40,000 shares 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, for either ELI-216 or ELI-154.

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