Last $43.49 USD
Change Today 0.00 / 0.00%
Volume 0.0
HITK On Other Exchanges
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Exchange
Berlin
NASDAQ GS
As of 8:10 PM 04/16/14 All times are local (Market data is delayed by at least 15 minutes).

hi-tech pharmacal co inc (HITK) Snapshot

Open
$43.50
Previous Close
$43.49
Day High
$43.50
Day Low
$43.49
52 Week High
08/27/13 - $44.33
52 Week Low
06/4/13 - $29.24
Market Cap
604.8M
Average Volume 10 Days
171.5K
EPS TTM
$1.73
Shares Outstanding
13.9M
EX-Date
12/11/12
P/E TM
25.1x
Dividend
--
Dividend Yield
--
Current Stock Chart for HI-TECH PHARMACAL CO INC (HITK)

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hi-tech pharmacal co inc (HITK) Details

Hi-Tech Pharmacal Co., Inc., a specialty pharmaceutical company, develops, manufactures, and markets generic and branded prescription, and over-the-counter (OTC) products in the United States. It operates in three segments: Generic Pharmaceuticals, OTC Branded Pharmaceuticals, and Prescription Brands. The company manufactures liquid and semi-solid dosage forms; and produces a range of sterile ophthalmic, otic, and inhalation products. Its generic products include oral solutions and suspensions, topical creams, and ointments, as well as nasal sprays. Hi-Tech Pharmacal Co. also markets OTC branded products, such as Diabetic Tussin, DiabetiDerm, Multi-betic, Mag-Ox, Choice DM, and DiabetiSweet primarily for people with diabetes; capsaicin products under the Zostrix brand name for pain management of conditions comprising arthritis and foot pain; Nasal Ease homeopathic allergy reliever; and Sinus Buster homeopathic sinus congestion reliever. In addition, the company markets and distributes branded prescription products to treat various disease states, including pain, cough/cold and allergies, contact dermatitis, sleep disorders, and swimmer’s ear. It serves chain drug stores, drug wholesalers, managed care purchasing organizations, federal government agencies, generic distributors, mass merchandisers, and mail order pharmacies. The company was founded in 1982 and is based in Amityville, New York. As of April 17, 2014, Hi-Tech Pharmacal Co., Inc. operates as a subsidiary of Akorn, Inc.

447 Employees
Last Reported Date: 07/11/13
Founded in 1982

hi-tech pharmacal co inc (HITK) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: --
Chief Financial Officer and Vice President of...
Total Annual Compensation: --
Vice President of Operations
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Chief Executive Officer of ECR Pharmaceutical...
Total Annual Compensation: --
President of Health Care Products Division
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

hi-tech pharmacal co inc (HITK) Key Developments

Hi-Tech Pharmacal Co., Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended January 31, 2014

Hi-Tech Pharmacal Co., Inc. reported earnings results for the third quarter and nine months ended January 31, 2014. For the quarter, the company reported income before provision for income taxes was $12,311,000, net income of $8,351,000 or $0.59 diluted per share on net sales of $59,902,000 against income before provision for income taxes was $9,049,000, net income of $5,940,000 or $0.43 diluted per share on net sales of $64,331,000 for the same period a year ago. According to Non-Gaap, the company reported income before provision for income taxes was $15,806,000, net income of $10,605,000 or $0.75 diluted per share against income before provision for income taxes was $13,037,000, net income of $8,512,000 or $0.62 diluted per share for the same period a year ago. For the nine months, the company reported income before provision for income taxes was $20,976,000, net income of $14,088,000 or $1.00 diluted per share on net sales of $169,004,000 against income before provision for income taxes was $31,146,000, net income of $20,868,000 or $1.53 diluted per share on net sales of $173,911,000 for the same period a year ago. According to Non-Gaap, the company reported income before provision for income taxes was $43,060,000, net income of $28,332,000 or $2.01 diluted per share against income before provision for income taxes was $42,594,000, net income of $28,252,000 or $2.08 diluted per share for the same period a year ago.

Hi-Tech Pharmacal Co., Inc Receives Final Approval for Bromfenac Ophthalmic Solution, 0.09% (Once-A-Day)

Hi-Tech Pharmacal Co., Inc. announced that the US Food and Drug Administration, granted final approval for the company's Abbreviated New Drug Application, for Bromfenac Ophthalmic Solution, 0.09%, the generic for ISTA Pharmaceuticals' Bromday ophthalmic solution, 0.09%. The product is used to treat postoperative inflammation and reduction of ocular pain in patients who have undergone cataract surgery. The company plans to launch the product immediately.

Fish & Richardson Wins Patent Infringement Suit for Allergan over Generic LUMIGAN(R) 0.01%

Fish & Richardson announced that it won an important Hatch-Waxman litigation for client Allergan, Inc. in a patent infringement suit against Sandoz Inc., Lupin Ltd., Lupin Pharmaceuticals Inc., Hi-Tech Pharmacal Co., Inc., Watson Laboratories, Inc., Watson Pharmaceuticals, Inc., and Watson Pharma, Inc. On January 14, 2014, the U.S. District Court for the Eastern District of Texas ruled that the defendants could not sell their generic versions of Allergan's popular LUMIGAN(R) (bimatoprost ophthalmic solution) 0.01% until Allergan's last patent expires in 2027. LUMIGAN(R) 0.01 is a leading treatment for elevated eye pressure in people with glaucoma or ocular hypertension. LUMIGAN(R) 0.01% was first approved by the FDA in 2010. Under Hatch-Waxman, drug companies may file a so-called abbreviated new drug application (ANDA) with the FDA to seek approval for generic versions of already-approved drugs by submitting bioequivalence studies instead of clinical studies, which is a much cheaper method than the normal FDA process. Branded companies that own the patents and believe the generic will infringe must then sue to enforce their patent rights to attempt to prevent the approval of the infringing generic. As part of the ruling, the court permanently enjoined the defendants from the commercial manufacture, use, offer to sell and/or sale of their proposed generic products in, as well as the import of those products into, the U.S. or its territories.

 

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