According to Hi-Tech Pharmacal, sales of its fluticasone propionate nasal spray dropped from $23 million in the 3rd quarter of the 2013 fiscal year to only $10.9 million for the same period in 2014. The decrease was a combination of lower unit sales and a lower average price, the company said.
Sales of a homeopathic OTC nasal spray called Sinus Buster marketed by the the company’s Healthcare Products Division were also down, helping to drag sales for the division down by 20% from the same period in 2013.
Hi-Tech Pharmacal announced in August 2013 that it would be acquired by Akorn. The company now says that it expects that transaction to be completed by April 2014.
Read the Hi-Tech Pharmacal press release.
