Generic Rx sales jump more than half for Hi-Tech Pharmacal in Q1

AMITYVILLE, N.Y. — First-quarter net sales for Hi-Tech Pharmacal's generic pharmaceuticals business increased by 52% to nearly $49 million, the drug maker reported.

Hi-Tech Pharmacal attributed the spike to stronger sales of fluticasone propionate nasal spray.

For the three months ended July 31, the company recorded net income from continuing operations of $13.8 million, or $1.05 per diluted share, a 58% rise compared with net income from the year-ago period.

Overall, net sales for Hi-Tech Pharmacal jumped 43% during its first quarter to $56.2 million.