May 9, 2008 - Hi-Tech Pharmacal Co., Inc. (NASDAQ:HITK) announced today that it entered into a distribution and supply agreement with a subsidiary of Warner Chilcott Limited (NASDAQ:WCRX) to market the authorized generic version of Warner Chilcott's Dovonex(R) Scalp Solution (calcipotriene solution 0.005%). It is indicated for the topical treatment of psoriasis of the scalp. According to IMS, Dovonex(R) Scalp Solution had sales of approximately $18 million in 2007. Hi-Tech will pay Warner Chilcott a portion of the profits from the sale of the authorized generic product. Hi-Tech will begin shipping generic calcipotriene scalp solution under its label immediately.
Hi-Tech is a specialty pharmaceutical company developing, manufacturing and marketing generic and branded prescription and OTC products for the general healthcare industry. 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.
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