AMITYVILLE, N.Y.--July 30, 2003--Hi-Tech Pharmacal Co., Inc. (NASDAQ: HITK) - announced today that its Health Care Products Division (HCP) recently launched several new products and line extensions for people with diabetes.
Through its partnership with Medifast, HCP launched its clinically tested DiabetiTrim(R), a nutritionally-balanced weight management shake for people with diabetes. The exclusive DiabetiTrim(R) formula is backed by 20 years of research, including studies at Johns Hopkins Bloomberg School of Public Health, and experience in weight management nutrition. DiabetiTrim(R) combines a low-calorie content with a high proportion of protein, contains 24 essential vitamins and minerals, is rich in calcium and dietary fiber, and is low in sugars and fat.
Gary April, President of the Health Care Products Division, commented: "The number of Americans diagnosed with diabetes jumped 49% over for the last decade. About 17million people now suffer from the disease which is largely associated with obesity. "DiabetiTrim(R) presents an opportunity for people with diabetes to have delicious drinks, snacks, and meals to help them feel full and help reach their weight objectives. As we all know, one of the biggest challenges for people with diabetes is to lose weight and keep it off. Great tasting, nutritionally balanced products like DiabetiTrim(R) help in losing weight, but more importantly helps the individual take control. "
HCP also launched three new products under its DiabetiDerm(R) skin care line: DiabetiDerm(R) Massage Stimulator Roll-On and DiabetiDerm(R) Gentle Cleansing Lotion - both containing advanced formulas with L-Arginine - and DiabetiDerm(R) Sunscreen with a special moisturizing formula. The L-Arginine has been clinically demonstrated to improve micro-circulation in the skin, increasing sensation in the leg and foot areas.
HCP also introduced DiabetiSweet(R) Brown sugar substitute to supplement the original DiabetiSweet(R), which unlike other sugar substitutes, maintains its taste at high temperatures and is ideal for baking and cooking, Mr. April continued: "We are also pleased to announce that according to the 2003 Pharmacy Times OTC Recommendation Survey, an overwhelming 45.3% of pharmacists recommend Diabetic Tussin(R), the number one selling sugar free cough syrup. In the sugar free cough category, Diabetic Tussin(R) was recommended by pharmacists twice more often than competing products."
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.
Statements concerning future results in this release may constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectation and the current economic environment. These statements involve a number 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. Actual results could differ materially from those expressed or implied in the forward-looking statements and these statements are not guarantees of the future performance.