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Sales & Earning In Brief

This article was originally published in The Tan Sheet

Executive Summary

Hi-Tech Pharmacal seeks OTC acquisitions: The pharmaceutical firm plans to bolster its current line of diabetic consumer health products with additional brand acquisitions. The OTC market is "a critical area for future growth and we are continuing to seek acquisitions to build our OTC business," said Hi-Tech Pharmacal CEO David Seltzer March 11. The Amityville, N.Y., company purchased the Mag-Ox magnesium supplement line in early March (1"The Tan Sheet" March 8, 2010, In Brief). For the November-January period, Hi-Tech grew sales in its Health Care Products division, including OTCs, 11.5 percent to $2.9 million, while overall net sales jumped 32 percent to $38.8 million
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