Hi-Tech Pharmacal gains rights to the Cormax brand from Watson

5 June 2012

Hi-Tech Pharmacal (Nasdaq: HITK) says it has signed a definitive agreement under which it has acquired exclusive rights to the Cormax brand from Watson Pharmaceuticals (NYSE: WPI) for an undisclosed financial consideration.

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, which will launch Cormax this month. The brand had sales of approximately $600,000 in 2011, according to IMS data.

"Since Hi-Tech will manufacture Cormax for our ECR subsidiary, we anticipate the product will generate high margins. We are pleased to add another well-recognized brand to the ECR portfolio of branded products.” said David Seltzer, president and chief executive of Hi-Tech Pharmacal.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK