Hi-Tech Pharmacal Acquires Rights to the Cormax Brand for its ECR Pharmaceuticals Subsidiary

Hi-Tech Pharmacal Co., Inc. HITK announced today the signing of a definitive agreement under which Hi-Tech acquired exclusive rights to the Cormax brand from Watson Laboratories for an undisclosed sum of money. Cormax, a branded version of clobetasol propionate topical solution 0.05%, is indicated for the treatment dermatoses of the scalp. The Cormax® brand will be sold through the Company's branded prescription subsidiary, ECR Pharmaceuticals. ECR will launch Cormax® in June 2012. The brand had sales of approximately $600,000 in 2011 according to IMS data.