Hi-Tech Pharmacal Divests its Midlothian Laboratories Division (HITK)

Hi-Tech Pharmacal Co. HITK, a specialty pharmaceuticals company, announced today that it has divested the Midlothian Laboratories division in exchange for a cash payment. Hi-Tech retained marketing and distribution rights to generic buprenorphine sublingual tablets, an ANDA that is filed with the FDA, an ANDA that is in development and a royalty stream from products previously divested. Metrics, Inc, a drug development company located in North Carolina acquired Midlothian Laboratories from Hi-Tech.