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In Brief

Hi-Tech absorbs hit from Sandy; Meda strikes MidNite deal; Sunscreen labeling due date nears; ChromaDex picks up Spherix Consulting; Chemi Pharmaceutical allegedly falsified tests; Actavis exec Boothe joins Perrigo.

The Amityville, N.Y., facilities of Hi-Tech Pharmacal Co. Inc. lost power from Oct. 29 to Nov. 1 due to Hurricane Sandy and did not produce or ship any Rx or OTC products during that stretch. Though its facilities were not damaged, Hi-Tech lost four days of sales opportunities for cough/cold/flu OTCs while retail orders for those products surged, CEO David Seltzer said Dec. 6. Employees are working overtime now to catch up and the firm expects to make up the lost sales during its current fiscal third quarter, which ends in January. For the preceding quarter ended Oct. 31, Hi-Tech reported net sales up 1.2% to $57.5 million while net income declined 35.3% to $8.9 million as research and development costs jumped 35.5% to $3.3 million. Hi-Tech’s OTC health care products division recorded second-quarter sales essentially flat at $4.7 million, as discounting for the Nasal Ease brand offset sales of the Sinus Buster product acquired in March.

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