RxElite Enters Into a Development, Supply and Marketing Agreement for the Manufacture of an Ophthalmic Solution
15 7월 2008 - 12:34AM
Marketwired
MERIDIAN, ID today announced the signing of a ten-year
development, supply and marketing agreement with Hi-Tech Pharmacal
Co., Inc., a manufacturer and marketer of liquid generic
products.
Under the terms of the agreement, RxElite will be responsible
for the exclusive U.S. supply of active pharmaceutical ingredient
to be used in the manufacture of the generic ophthalmic product.
The active pharmaceutical ingredient will be manufactured by
RxElite's wholly owned subsidiary, FineTech Pharmaceuticals Ltd.,
at their production facility in Nesher, Israel. Hi-Tech Pharmacal
will be responsible for the development of the finished dose
formulation, regulatory filing, and manufacturing, as well as
marketing the ophthalmic product. Upon commercialization, the
parties will share net proceeds from the sale of the product.
Rick Schindewolf, RxElite's Senior Vice President of Business
Development, stated, "This partnership reflects RxElite's continued
drive to realize value from our acquisition of FineTech and its
rich product portfolio. We look forward to working closely with
Hi-Tech Pharmacal on this project and future projects."
About RxElite, Inc.
RxElite, Inc. develops, manufactures, and markets generic
prescription drug products in specialty generic markets. These
markets include products in the areas of anesthesia, sterile liquid
dose drugs (including respiratory inhalation drugs, ophthalmics,
and injectable drugs), complex active pharmaceutical ingredients,
and other specialty areas. www.RxElite.com.
About Hi-Tech Pharmacal Co., Inc.
Hi-Tech is a specialty pharmaceutical company developing,
manufacturing and marketing branded and generic prescription and
OTC products for the general healthcare industry. The Company
specializes in difficult to manufacture liquid and semi-solid
dosage forms and produces a range of sterile ophthalmic, otic and
inhalation products. The Company's Health Care Products Division is
a leading developer and marketer of branded prescription and OTC
products for the diabetes marketplace.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
involving known and unknown risks, delays, and uncertainties that
may cause our actual results or performance to differ materially
from those expressed or implied by these forward-looking
statements. These risks, delays, and uncertainties include, but are
not limited to: risks associated with the uncertainty of future
financial results, our reliance on our sole supplier, the limited
diversification of our product offerings, additional financing
requirements, development of new products, government approval
processes, the impact of competitive products or pricing,
technological changes, the effect of economic conditions and other
uncertainties detailed in the Company's filings with the Securities
and Exchange Commission. The Company undertakes no obligation to
update any forward-looking statements.
For more information: Corporate Information Ph: (208) 288-5550
Toll Free: (800) 414-1901 Fax: (208) 288-1191 Investor Relations
Ric Tener PH: (208) 288-5550 Fax: (208) 288-1191 Email: Email
Contact
RXElite (CE) (USOTC:RXEI)
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RXElite (CE) (USOTC:RXEI)
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부터 6월(6) 2023 으로 6월(6) 2024