Hi-Tech pays $5M for Midlothian Labs
New York State, USA-based Hi-Tech Pharmacal says it has signed a definitive agreement to acquire the assets of Alabama-headquartered pharmaceutical firm Midlothian Laboratories for $5.0 million in cash. Hi-Tech will also pay $900,000 for outstanding inventory and a potential $1.0 million in performance incentives tied to the future sale of Midlothian products.
Broadens pipeline to new therapeutic areas
As a result of the transaction. Hi-Tech gains a diverse range of products, including: Midlothian's line of prescription nutritional supplements; several pre-natal cough and cold treatments; as well as drug candidates currently in development. David Seltzer, Hi-Tech's chief executive, said that the new products would serve as a welcome boost to the firm's pipeline, and would facilitate its entry into additional therapeutic areas. He added that the deal would be both accretive to his company's earnings and cash flow positive within a year.
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.
Login to your accountTry before you buy
Free
7 day trial access
- 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
- 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
Today's issue
Company Spotlight
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze