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Hi-Tech Pharmacal Acquires Midlothian Laboratories.

Publication: Business Wire
Publication Date: 31-DEC-07
Format: Online
Delivery: Immediate Online Access

Article Excerpt
AMITYVILLE, N.Y. -- Hi-Tech Pharmacal Co., Inc. (NASDAQ:HITK) announced today the signing of a definitive agreement under which Hi-Tech acquired the assets of Midlothian Laboratories, LLC for $5.0 million in an all-cash transaction. Additionally, Hi-Tech will pay approximately $0.9 million for inventory and potentially up to $1.0 million in performance incentives tied to future Midlothian product sales, and the approval of an ANDA. Under the terms of the acquisition Hi-Tech receives rights to Midlothian's...

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