Hi-Tech Pharmacal Acquires Rights to Branded Products to be Promoted by their ECR Pharmaceuticals Subsidiary for $3.6M

Hi-Tech Pharmacal Co., Inc. HITK, a specialty pharmaceuticals company, announced today that they acquired marketing and distribution rights to several unique branded products for the treatment of pain from Atley Pharmaceuticals. Some products are approved and some are pending approval with the Food and Drug Administration. The Company paid $3.6 million in cash for rights to the products and inventory. Hi-Tech will pay royalties for certain of these products under a license agreement it has assumed.