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news.Hi-Tech Pharmacal has entered into a licensing agreement with Septodont for marketing rights of generic Lidocaine 5% Ointment.
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Hi-Tech is in the process of launching Lidocaine 5% Ointment, indicated for use as a local anesthetic, and the profits from the sale of the product will be shared with Septodont.
The product had sales of $25m for the 12 month period ended February 2012, according to IMS data.
Hi-Tech is a specialty pharmaceutical company developing, manufacturing and marketing generic and branded prescription and OTC products.