UPDATE 1-Hi-Tech Pharmacal posts Q2 profit, shares jump
* Q2 EPS $0.09 vs loss/shr of $0.08 last year
* Net sales rises 58 pct to $25.1 mln
* Shares jump 35 pct
Dec 9 (Reuters) - Hi-Tech Pharmacal Co Inc (HITK.O) swung to a quarterly profit, boosted by new product launches and a 44 percent jump in generic pharmaceutical product sales, sending its shares up as much as 35 percent.
For the second quarter ended Oct. 31, the maker of generic drugs reported net income of $1.1 million, compared with a net loss of $953,000 a year earlier.
Sales of newly launched dorzolamide with timolol ophthalmic solution, for which the company received final regulatory approval in October, were $5.4 million.
Generic pharmaceutical product sales, which include contract manufacturing and branded prescription, stood at $19.5 million.
Shares of Hi-Tech Pharmacal rose 24 percent to $6.21 in morning trade on Nasdaq. They touched a high of $6.77 earlier in the session.
For the alerts, double click [ID:nWNAB0929] (Reporting by Anuradha Ramanathan in Bangalore; Editing by Deepak Kannan)
