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.
IntraVera to launch BruiseMD product at 2009 Natural Products Expo West
GLENDALE, Calif. IntraVera Worldwide will be launching its BruiseMD product at the 2009 Natural Products Expo West, the company announced. BruiseMD will be available in tablets, cream, gel and as an analgesic balm.
The oral version of BruiseMD features natural plant extracts, including pineapple and papaya. The topical versions feature Arnica Montana, a natural ingredient used to heal bruises in combination with topical analgesics for pain relief.
“Every day, nearly 350,000 Americans suffer a new bruise,” stated Raymond Ealy, president and CEO. “There is a pressing consumer need for a product that specifically treats bruises.”
“BruiseMD will speed up the healing process of all three types of bruises: subcutaneous bruises, or those beneath the skin; intramuscular bruises, those within the underlying muscle; and periosteal, or bone bruises, the most severe and painful,” reported James Caillouette, co-founder and board member of IntraVera Worldwide. “Until now, doctors and pharmacists could only recommend the use of pain relievers to treat bruises. These products can decrease bruise pain, but do nothing to heal the bruise.”