Under the deal, the product will be marketed under Lodrane brand name by Hi-Tech’s branded sales and marketing company, ECR.
Hi-Tech specializes in difficult to manufacture liquid and semi-solid dosage forms and produces a range of sterile ophthalmic, otic and inhalation products.
Hi-Tech president and CEO David Seltzer said the product is similar to their Lodrane brand products and will allow them to leverage equity in the brand, particularly as approximately 500 unapproved cough/cold and allergy products will be removed from the market in September 2011.