Press Releases

Hi-Tech Enters into Agreement with TEAMM Pharmaceuticals to Promote DiabeticTussin CÆ to Physicians

Amityville, NY, July 25, 2001 — Hi-Tech Pharmacal, Co., Inc. (NASDAQ:HITK) announced today that it had entered into an agreement with TEAMM Pharmaceuticals, Inc. to co-promote Diabetic Tussin CÆ, a cough medication that is especially suitable for persons who should not be exposed to sugar, alcohol, sodium, fructose, sorbital or dyes. Beginning in September 2001, TEAMM’s sales and marketing force will promote this product directly to primary care practitioners including physicians, nurse practitioners and physician assistants across the United States.

Commenting on the news, David Seltzer, President and CEO of Hi-Tech said: “ We are extremely pleased to partner with TEAMM whose executives have decades of marketing and sales experience promoting pharmaceuticals directly to prescribers in various therapeutic categories. Diabetic Tussin CÆ is our first prescription branded product that complements our over-the-counter DiabetiTussinÆ brand, for people with diabetes. We see it as a strategic expansion into the area of proprietary brand promotion to primary care physicians and other prescribers.”

Martin Baum, President and CEO of TEAMM said: “Diabetic Tussin CÆ is especially useful in for people with diabetes. We believe that with the growth of the diabetic population, the product that fills the niche meeting the needs of these consumers has great potential. We have an extremely aggressive marketing plan for the product as it will be launched in September in preparation for the cough and cold season. The launch will be augmented by a significant expansion of our field force throughout the duration of the agreement”.

Hi-Tech is a specialty pharmaceuticals manufacturer and marketer of branded and generic prescription and OTC products for the general health industry. A specialist in liquid and semi-solid dosage form production, Hi-Tech markets a broad line of generic products under its own labels and also serves as a contract manufacturer to the industry. The company’s Health Care Products subsidiary is a leading manufacturer and marketer of branded OTC products for the diabetes marketplace.

TEAMM Pharmaceuticals, Inc. is a new generation pharmaceutical firm that promotes and distributes high quality prescription pharmaceutical products. Through product acquisitions and strategic partnerships with other pharmaceutical firms, TEAMM has created an accelerated “development to market” business model. TEAMM’s highly targeted national sales force and broad marketing initiatives are focused on meeting the needs of the primary care patient and prescriber populations.

This release contains forward looking statements that are subject to risk 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.