Hi-Tech Pharmacal has reported a 10% increase in net sales of generic products for the quarter ended April 30, 2012 compared to the same quarter in 2011, an increase due primarily to a sales increase for fluticasone proprionate nasal spray. According to the company, sales of fluticasone propionate nasal spray were up from $26.9 million in the same period last year to $28.4 million this year. For the full year, fluticasone nasal spray sales were up $25.6 million to $99.4 million, compared to $73.8 million for the fiscal year ended April 30,2011.
Sales increases for Hi-Tech Pharmacal’s branded OTC products increased almost 60%, to $5.3 million for the quarter ended April 30, 2012 compared to $3.3 million in that quarter of 2011, an increase the company attributes primarily to the re-launch of Nasal Ease cellulose/peppermint intranasal powder and the acquisition of Sinus Buster capsaicin nasal spray, along with several other products.
Hi-Tech Pharmacal President and CEO David Seltzer said, “We are very pleased with the results reported for our fourth quarter and year ended April 30, 2012. We surpassed $200 million in sales for the first time as we reported record sales for both the fourth quarter and year end. Our generic business continues to be a very strong and growing business for us, as sales of Fluticasone nasal spray continue to increase despite a new competitor entering the market this past fiscal year.”
Read the Hi-Tech Pharmacal press release.
