AMITYVILLE, N.Y.--(BUSINESS WIRE)--June 25, 2002--Health Care Products, a division of Hi-Tech Pharmacal Co., Inc. (NASDAQ: HITK), announced the launch of three new products: Multi-betic(R), a multi-vitamin, mineral and supplement formula; DiabetiDerm(R) Foot Rejuvenating Cream; and DiabeticTussin(R) Sore Throat Spray.
The products supplement the Company's branded line for people with diabetes that includes Diabetic Tussin(R), the number one selling sugar free cough syrup, as well as DiabetiSweet(R), aspartame free sugar substitute used for baking and cooking.
Gary April, President of the company's Health Care Products division, commented on the launch: "People with diabetes develop various complications related to their disease, such as cardiovascular, vision and skin problems. They have to pay special attention to their blood glucose levels. Our new products, like others that we develop and market, help people with diabetes live healthier lives. In addition to all essential vitamins and minerals, Multi-betic(R) contains Alpha lipoic acid Lycopene, supplements that will give diabetes sufferers additional antioxidant protection, Lutein, which provides nourishment to the eye and Chromium that helps maintain healthy glucose levels. DiabetiDerm(R) contains an advanced foot care formula, including L-Arginine HCL that will help diabetics increase their blood circulation and deal with severely dry skin. Diabetes-related foot problems are the third most common reason for hospitalization according to online sources at PodiatryChannel. Sugar-free and alcohol-free Diabetic Tussin(R) throat spray provides quick relief of sore throat and mouth pain without posing a risk to blood glucose levels."
According to the American Diabetes Association, there are 17 million people in the United States who have diabetes. Over 800,000 new cases are diagnosed each year. The World Health Organization estimates that the number of people worldwide who have diabetes will rise 122% from 135 million to 300 million during the next 25 years. This more than twofold global increase will occur because of population aging and growth, as well as from obesity, unhealthy diets and a sedentary lifestyle.
Hi-Tech is a specialty pharmaceutical company developing, manufacturing and marketing branded and generic 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.
Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including but not limited to the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.