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LI firm buys rights to wound-treatment drug
A subsidiary of the Amityville drugmaker Hi-Tech Pharmacal Co. Inc. says it has acquired marketing and distribution rights to a topical wound and ulcer treatment gel, to be marketed as a branded prescription medication.
Hi-Tech Pharmacal describes itself as a specialist in producing hard-to-manufacture semi-solid and liquid medicines for the eye, ear, nose and throat. It makes generic and branded products.
The company did not disclose financial terms of the buy, from Glycobiosciences Inc., of the rights to sell the “hyaluronic acid and emollient based” medication, to be packaged under the brand name Hylase Wound Gel.
The gel is prescribed for the management and treatment of leg ulcers, pressure ulcers, diabetic ulcers and exuding wounds prone to bleeding, Hi-Tech said in a Wednesday news release.
The subsidiary is ECR Pharmaceuticals, of Richmond, Va., which Hi-Tech bought in 2009.
Hylase will be marketed to doctors, hospitals and nursing care facilities.
The gel will help the company expand its range of products, David Seltzer, Hi-Tech's chief executive, said.
The company was in the news last week after a Mumbai, India-based competitor announced that it had received FDA approval for its own version of one of Hi-Tech Pharmacal’s mainstay products, a generic version of the rhinitis drug Flonase.
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Tags: hi tech pharmacal