Healthcare Industry News: Inhalation
News Release - February 16, 2010
Hi-Tech Pharmacal's ECR Subsidiary to Co-Promote Unique Kidney Stone Treatment
AMITYVILLE, N.Y.--(HSMN NewsFeed)--Hi-Tech Pharmacal Co., Inc. (NASDAQ: HITK ) announced today that its branded marketing subsidiary, ECR Pharmaceuticals will promote Urocit®-K 15mEq, potassium citrate extended release tablets to primary care physicians beginning in April, 2010. Hi-Tech has a license agreement with Mission Pharmacal Company, which will promote the product to Urologists. Indicated for the treatment of kidney stones, UroCit®-K 15mEq is the maximum strength potassium citrate product available, and provides convenient twice-a-day dosing Urocit-K 15 mEq offers kidney stone sufferers the only twice-daily treatment at this dosage strength. The new formulation provides patients with 50 percent more of the active ingredient, potassium citrate, than Urocit-K 10 mEq. ECR Pharmaceuticals will receive a percentage of gross profit based on prescriptions generated by primary care physicians."We are pleased to introduce another unique prescription branded product to the primary care market," said David Seltzer, President and CEO of Hi-Tech Pharmacal. "UroCit®-K 15mEq is a highly effective product, available in a convenient dosing regimen which will increase patient compliance."
Terry Herring, president of Mission Pharmacal’s Pharmaceutical Division stated that, “We are pleased with our new arrangement with ECR. At Mission, our goal is to bring innovative products to Physicians and their patients. This partnership demonstrates our commitment to delivering on that goal. Through this effort more patients will receive better care. Mission Pharmacal continues to invest in research and development to improve treatment outcomes of nephrolithiasis (kidney stones) for physicians and patients.”
Hi-Tech is a specialty pharmaceutical company developing, manufacturing and marketing generic and branded prescription and OTC products. The Company specializes in difficult to manufacture liquid and semi-solid dosage forms and produces a range of sterile ophthalmic, otic and Inhalation products. The Company's Health Care Products Division is a leading developer and marketer of branded prescription and OTC products for the diabetes marketplace. Hi-Tech's ECR Pharmaceuticals subsidiary markets branded prescription products.
Forward-looking statements (statements which are not historical facts) in this Press Release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not promises or guarantees and investors are cautioned that all forward-looking statements involve risks and uncertainties, including but not limited to the impact of competitive products and pricing, product demand and market acceptance, new product development, the regulatory environment, including without limitation, reliance on key strategic alliances, availability of raw materials, fluctuations in operating results and other results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. These statements are based on management's current expectations and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward looking statements which speak only as of the date made. Hi-Tech is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
About Mission Pharmacal
Mission Pharmacal is a privately held pharmaceutical company based in San Antonio, Texas. For more than 60 years, the company has led the way in providing innovative therapies with the power to manage stone disease across a wide range of kidney stone patients. Currently, Mission Pharmacal provides physicians and consumers with pharmaceutical and nutritional products. For more information, visit www.missionpharmacal.com.
Source: Hi-Tech Pharmacal
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