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.