Hi-Tech Pharmacal acquires ECR Pharmaceuticals
AMITYVILLE, N.Y. Hi-Tech Pharmacal on Monday acquired the assets of ECR Pharmaceuticals, a privately held branded specialty pharmaceutical company, for $5.1 million in an all-cash transaction to be paid over an eight month period.
“This acquisition allows Hi-Tech to capitalize on ECR’s growing sales, and brings experienced management with a successful track-record developing new products,“ stated David Seltzer, president and CEO of Hi-Tech Pharmacal. “The addition of ECR makes Hi-Tech a more diverse and flexible company, as we have an additional outlet to market differentiated products currently in development.”
Additionally, Hi-Tech may pay up to $4 million in performance incentives tied to future ECR product sales and profits. Under the terms of the acquisition Hi-Tech receives rights to ECR’s product line, including branded prescription products for the treatment of allergy, headache and dermatitis/poison ivy.
ECR Pharmaceuticals has 45 sales representatives promoting products to physicians and pharmacists in 12 mid-Atlantic and southern states. ECR had net sales of $13.2 million and operating income of $2 million in calendar 2008. The company will continue to operate under the name ECR Pharmaceuticals.
Hi-Tech is a specialty pharmaceutical company developing, manufacturing and marketing generic and branded products. The company specializes in difficult to manufacture liquid and semi-solid dosage. The company’s Health Care Products Division is a leading developer and marketer of branded prescription and OTC products for the diabetes marketplace.
Advanced Vision Research launches new OTC supplement for AMD
WOBURN, Mass. Advanced Vision Research has launched an OTC vitamin supplement for macular degeneration and diabetic retinopathy, the eye disease treatment company announced Thursday.
MacuTrition Eye Vitamin and Mineral Supplement contains fish oil omega-3 fatty acids, vitamin D and green tea extract for age-related macular degeneration and diabetic eye disease. AMD has no cure and is the leading cause of blindless in Americans older than 65. In addition, 5 million of the23 million Americans with diabetes have diabetic retinopathy and macular edema, and 97% of insulin-dependent diabetics will develop retinopathy.
“By targeting oxidation, inflammation and angiogenesis, we take a multi-pronged approach to maintaining eye health, especially in those with diabetes and macular degeneration, including those at risk, i.e. family members,” Advanced Vision Research CEO Jeffrey Gilbard stated.
Study shows most Americans store vitamins in kitchen cabinets
WASHINGTON The majority of American adults who take vitamins and other supplements every year are keeping them in their kitchen cabinet, according to the 2008 CRN Consumer Survey on Dietary Supplements released Tuesday. As many as 52% of supplement users indicated that they store their supplements in a kitchen cabinet, the association noted.
These findings are consistent with results from the 2007 “Life…supplemented” Healthcare Professionals Impact Study, which surveyed U.S. doctors and nurses on their usage and attitudes of dietary supplements and found that a similar number — 59% of physicians and 66% of nurses — are also keeping their vitamins and other supplements in the kitchen cabinet. This same survey also found that 72% of physicians and 89% of nurses personally use dietary supplements, and that 79% of physicians and 82% of nurses recommend dietary supplements to their patients.
Like healthcare professionals, supplement consumers are using their bathroom cabinet as the second most popular place to store their supplements. As many as 23% of consumers (as well as 25% of doctors and 27% of nurses) reported housing their supplements there. Supplement consumers also report storing their supplements in other locations, including: kitchen counter (15%), night table (11%), refrigerator (7%), desk at home (5%), bathroom counter (5%), closet (4%), purse or briefcase (4%) and desk in office (3%).
The following supplements ranked the highest when supplement users were asked in the 2008 CRN Consumer Survey on Dietary Supplements what supplements they had taken in the past twelve months:
Multivitamin (taken by 82% of supplement consumers)
Vitamin C (32%)
Omega 3/Fish Oil (28%)
Vitamin B/B Complex (23%)
Vitamin E (20%)
Vitamin D (16%)
Green Tea (16%)
Glucosamine and/or Chondroitin (15%)
Flax Seed (11%)
The 2008 CRN Consumer Survey on Dietary Supplements was conducted Aug. 20-25, 2008 by Ipsos Public Affairs and funded by CRN. The survey was conducted on-line and included a national sample of 2,013 adults aged 18 and older from Ipsos’ U.S. on-line panel. The survey has been conducted annually since 2000.