Profile: Hi-Tech Pharmacal Co Inc (HITK.O)
16 Apr 2014
Hi-Tech Pharmacal Co., Inc., incorporated on August 1, 1996, is a specialty manufacturer and marketer of prescription, over-the-counter and nutritional products. The Company develops, manufactures and markets products in three categories: generics, prescription brands and over-the-counter (OTC) brands. It produces a range of products for various disease states, including glaucoma, asthma, bronchial disorders, dermatological disorders, allergies, pain, stomach, oral care and other conditions. The Company’s generic products are primarily prescription items and include oral solutions and suspensions, topical creams and ointments as well as nasal sprays. It also specializes in the manufacture of products in its sterile facility capable of producing liquid ophthalmic, otic and inhalation products. The generic product category includes a small amount of contract manufacturing sales for both the prescription and OTC markets.
The Company has 55 prescription products approved for marketing by the United States Food and Drug Administration (FDA) and one product with tentative approval. In addition, the Company has 18 products submitted to the FDA pending approval, including four partnered products and approximately 25 products in various stages of development. During the fiscal year ended April 30, 2013 (fiscal 2013), the Company launched Lorazapam Oral Concentrate and Levetiracetam Oral Solution.
Health Care Products Division
The Company’s Health Care Products division (HCP) markets a line of OTC branded products primarily for people with diabetes. The Company’s Health Care Products division is a marketer of OTC consumer branded products that include medications, nutritional products and cosmetics, primarily for people with diabetes. HCP also has several lines that fall outside the diabetes area in pain management, as well as sinus and allergy products. The Health Care Products division is composed of several product lines, which account for a majority of its sales. The product line includes Diabetic Tussin cough products, Mag-Ox magnesium supplement, Zostrix pain relief products, Multi-betic multi-vitamins, Sinus Buster sinus relief products and DiabetiDerm dermatological and foot care products.
The Company’s ECR Pharmaceuticals (ECR) subsidiary is engaged in the marketing and distribution of branded prescription pharmaceuticals. ECR’s products treat various disease states, including pain, cough/cold and allergies, contact dermatitis, sleep disorders and swimmer’s ear. The Company does not manufacture any of ECR’s products except for Cormax and the VoSol line. Other products are sourced, at ECR’s direction, through contract manufacturers and packagers. The Company’s ECR’s products include Tension Headache Analgesics: Bupap and Orbivan CF, Cough/Cold/Allergy: TussiCaps capsules, Oral Corticosteroid for a range of inflammatory conditions: DexPak TaperPaks available in 13 day, 10 day and 6 day compliance packages, Insomnia: Zolpimist Oral Spray, Dermatology: Tropazone Lotion, Tropazone Cream and Cormax Scalp Solution, External Otitis (Swimmer’s Ear): VoSol HC, and Analgesic: Zolvit Oral Solution.
Hi-Tech Pharmacal Co Inc
369 Bayview Avenue
AMITYVILLE NY 11701