Hi-Tech gets tentative generic approval |
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Published
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Fri, 23 Mar 2007 16:35
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AMITYVILLE, N.Y. (AP) - Drug developer and nutritional products maker Hi-Tech Pharmacal Co. said Friday the Food and Drug Administration granted tentative approval for its generic version of Warner Chilcott Ltd.'s Calcipotriene.The topical solution treats psoriasis of the scalp.Hi-Tech will begin marketing its version of the topical solution when Warner Chilcott's patent expires on Dec. 29. The drug had 2006 sales of $13 million according to IMS sales data, Hi-Tech said.Shares of Hi-Tech rose 4 cents to $11.39 and shares of Warner Chilcott fell 19 cents to $14.37 on the Nasdaq Stock Market in morning trading.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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