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LI firm buying rights to cough medicine
Hi-Tech Pharmacal Co. Inc., of Melville, has agreed to pay up to $25 million for the rights to a brand name prescription cough and cold remedy.
The remedy, TussiCaps, is an extended-release capsule containing hydrocodone polistirex and chlorpheniramine polistirex. Hi-Tech is buying it from Mallinckrodt Llc, which will continue to manufacture the formulation after selling it to Hi-Tech. The...