Press Releases

Hi-Tech Acquires an Internet Site for People with Diabetes

Amityville, NY, November 16, 2001 – Hi-Tech Pharmacal Co., Inc. (NASDAQ: HITK) announced today that it acquired SweetThoughts.com, an Internet site dedicated to providing health education, support and products for people with diabetes. With more than 80 visits a day, the site delivers to its visitors information on diabetes, healthy nutrition, and unique products to purchase, as well as events and publications related to the disease. It is designed as an interactive community that brings together people with diabetes, as well as doctors, educators and care givers.

Commenting on the acquisition, David Seltzer, President and CEO of Hi-Tech said: “Recent studies of e-business have shown that 25% percent of people with diabetes are online. The Health Care Products Division of Hi-Tech has placed increasing emphasis on the Internet as an extremely efficient way to build awareness of its brands, such as the Diabetic Tussin® line of cough & cold products, to educate the consumer about diabetes, and to create demand for new Company brands. SweetThoughts.com will be linked to our website Diabeticproducts.com to give us an opportunity to reach a significant community of people that will be interested to learn about our products.

We also plan to use the name SweetThoughts® as a brand for our unique sugar substitute currently distributed under the name DiabetiSweet®, that contains no sugar or aspartame and is ideal for baking and cooking. It has doubled its sales in the past year and continues to show great momentum. The new name will allow us to gain greater exposure to target a much wider population beyond people with diabetes”.

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 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.