AMITYVILLE, N.Y.--(BUSINESS WIRE)--Sept. 9, 2003--Hi-Tech
Pharmacal Co., Inc. (NASDAQ: HITK), a specialty pharmaceuticals
company, announced today that William Peters has joined the company as
Vice President, Corporate Development. Mr. Peters will assist the
company in evaluating and making acquisitions, arranging licensing
agreements, and analyzing strategic growth opportunities.
Mr. Peters joins Hi-Tech Pharmacal from Merck & Co., Inc, where he
served most recently as Director, Financial Evaluations, for the Medco
Health Solutions subsidiary. During his seven-year career with Merck &
Co., he also served as Manager of Corporate Financial Analysis and
Manager of Treasury Planning and Analysis.
Mr. Peters began his career in General Electric's Financial
Management Program at the company's Aerospace division, where he later
held positions in financial analysis and internal auditing.
He earned his Master of Business Administration from the Wharton
School, University of Pennsylvania, and a Bachelor of Science in
Business Administration from Bucknell University.
David Seltzer, President and Chief Executive Officer of Hi-Tech
Pharmacal commented, "William is a seasoned business executive with
tremendous experience in corporate finance, including particular
knowledge of the issues, opportunities and challenges facing the
pharmaceutical industry. He is a welcome addition to our team, and
will be an asset to our company as we continue to grow our business."
About Hi-Tech Pharmacal
Hi-Tech is a specialty pharmaceutical company developing,
manufacturing and marketing branded and generic 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
prescription and OTC products for the diabetes marketplace.
Statements concerning future results in this release may
constitute forward-looking statements within the meaning of the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. These statements are based on current expectations and the
current economic environment. These statements involve a number of
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. Actual results could differ materially from those
expressed or implied in the forward-looking statements and these
statements are not guarantees of the future performance.
631-789-8228, ext. 4208