-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 Nk0FaBVtyADpYZ97s8D82w==

<SEC-DOCUMENT>0000947871-09-000766.txt : 20091207
<SEC-HEADER>0000947871-09-000766.hdr.sgml : 20091207
<ACCEPTANCE-DATETIME>20091207155233
ACCESSION NUMBER:		0000947871-09-000766
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20091203
FILED AS OF DATE:		20091207
DATE AS OF CHANGE:		20091207

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Usdan Adam
		CENTRAL INDEX KEY:			0001459107

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15697
		FILM NUMBER:		091226124

	MAIL ADDRESS:	
		STREET 1:		C/O TRELLUS MANAGEMENT COMPANY, LLC
		STREET 2:		350 MADISON AVENUE, 9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ELITE PHARMACEUTICALS INC /DE/
		CENTRAL INDEX KEY:			0001053369
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				223542636
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	BUSINESS ADDRESS:	
		STREET 1:		165 LUDLOW AVENUE
		CITY:			NORTHVALE
		STATE:			NJ
		ZIP:			07647
		BUSINESS PHONE:		2017502646

	MAIL ADDRESS:	
		STREET 1:		165 LUDLOW AVENUE
		CITY:			NORTHVALE
		STATE:			NJ
		ZIP:			07647

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			TRELLUS PARTNERS LP
		CENTRAL INDEX KEY:			0001133880
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15697
		FILM NUMBER:		091226126

	BUSINESS ADDRESS:	
		STREET 1:		152 WEST 57TH ST
		STREET 2:		57TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2122453300

	MAIL ADDRESS:	
		STREET 1:		CHRISTINE STAMAS

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Trellus Management Company, LLC
		CENTRAL INDEX KEY:			0001307877
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15697
		FILM NUMBER:		091226127

	BUSINESS ADDRESS:	
		STREET 1:		350 MADISON AVENUE - 9TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		212-389-8799

	MAIL ADDRESS:	
		STREET 1:		350 MADISON AVENUE - 9TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Trellus Offshore Fund Ltd
		CENTRAL INDEX KEY:			0001458673
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15697
		FILM NUMBER:		091226125

	BUSINESS ADDRESS:	
		STREET 1:		C/O SEI GLOBAL SERVICES INC.
		STREET 2:		1 FREEDOM VALLEY DRIVE
		CITY:			OAKS
		STATE:			PA
		ZIP:			19456
		BUSINESS PHONE:		610-676-8725

	MAIL ADDRESS:	
		STREET 1:		C/O SEI GLOBAL SERVICES INC.
		STREET 2:		1 FREEDOM VALLEY DRIVE
		CITY:			OAKS
		STATE:			PA
		ZIP:			19456
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ss79405_4ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-12-03</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001053369</issuerCik>
        <issuerName>ELITE PHARMACEUTICALS INC /DE/</issuerName>
        <issuerTradingSymbol>ELTP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001307877</rptOwnerCik>
            <rptOwnerName>Trellus Management Company, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>350 MADISON AVENUE, 9TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001133880</rptOwnerCik>
            <rptOwnerName>TRELLUS PARTNERS LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>350 MADISON AVENUE, 9TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001458673</rptOwnerCik>
            <rptOwnerName>Trellus Offshore Fund Ltd</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>350 MADISON AVENUE, 9TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001459107</rptOwnerCik>
            <rptOwnerName>Usdan Adam</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O TRELLUS MANAGEMENT COMPANY, LLC</rptOwnerStreet1>
            <rptOwnerStreet2>350 MADISON AVENUE, 9TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2009-12-03</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>45000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.125</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>24731777</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2009-12-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>45000</value>
                    <footnoteId id="F5"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.11</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>24686777</value>
                    <footnoteId id="F6"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On December 3, 2009, Trellus Partners, L.P., a Delaware limited partnership (&quot;TPLP&quot;) sold 30,000 shares of Common Stock
 short against the box and Trellus Offshore Fund Limited, a Cayman Islands limited liability company (&quot;TOF&quot;) sold 15,000
 shares of Common Stock short against the box.</footnote>
        <footnote id="F2">On December 3, 2009, following the reported transaction, TPLP owned 13,327,179 shares of Common Stock and held warrants to
 acquire 3,291,426 shares of Common Stock and TOF owned 6,534,432 shares of Common Stock and held warrants to acquire
 1,377,758 shares of Common Stock.  Trellus Management Company, LLC (&quot;Trellus&quot;) and Mr. Usdan each beneficially owned
 the Common Stock and warrants owned by TPLP and TOF and in addition held indirect beneficial ownership of an additional
 167,103 shares of Common Stock and additional warrants to acquire 33,879 shares of Common Stock.</footnote>
        <footnote id="F3">Trellus is the investment adviser to TPLP and TOF.  Adam Usdan is the controlling principal and chief investment officer of
 Trellus.  By reason of their investment discretion, Trellus and Mr. Usdan are reported herein as indirect beneficial owners
 of the securities held, acquired, and sold short against the box by TPLP and TOF (as described in footnotes (5) and (6)).</footnote>
        <footnote id="F4">Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary
 interest therein.</footnote>
        <footnote id="F5">On December 4, 2009, TPLP sold 30,000 shares of Common Stock short against the box and TOF sold 15,000 shares of Common Stock
 short against the box.</footnote>
        <footnote id="F6">On December 4, 2009, following the reported transaction, TPLP owned 13,297,179 shares of Common Stock and held warrants to
 acquire 3,291,426 shares of Common Stock and TOF owned 6,519,432 shares of Common Stock and held warrants to acquire
 1,377,758 shares of Common Stock.  Trellus and Mr. Usdan each beneficially owned the Common Stock and warrants owned by TPLP
 and TOF and in addition held indirect beneficial ownership of an additional 167,103 shares of Common Stock and additional
 warrants to acquire 33,879 shares of Common Stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Anthony G. Miller, Chief Financial Officer of Trellus Management Company, LLC</signatureName>
        <signatureDate>2009-12-07</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Anthony G. Miller, Chief Financial Officer of Trellus Partners, L.P.</signatureName>
        <signatureDate>2009-12-07</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Adam Usdan, Director of Trellus Offshore Fund Limited</signatureName>
        <signatureDate>2009-12-07</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Adam Usdan</signatureName>
        <signatureDate>2009-12-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----