Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Atley Pharmaceuticals has licensed the marketing and distribution rights of some of its branded pain drugs to Hi-Tech Pharmacal, a developer, manufacturer and marketer of generic and branded prescription and OTC products, for $3.6m.
Subscribe to our email newsletter
Out of all licensed products, some are the US Food and Drug Administration (FDA) approved drugs while rest are unapproved.
As per the terms of the agreement, Atley Pharma expects to receive royalties for some of these products from Hi-Tech.
Additionally, ECR Pharmaceuticals will be responsible to promote these newly acquired products of Hi-Tech.
Hi-Tech president and CEO David Seltzer said they believe the acquisition of these products creates a synergy with ECR’s current product line, and provides additional therapeutic options to help primary care physicians and their patients address problems with pain.