Akorn acquires Hi-Tech Pharmacal; Actavis purchases product lines from Akorn

Akorn has completed its acquisition of Hi-Tech Pharmacal for $640 million in cash, according to a news release from Akorn. The acquisition is expected to diversify Akorn’s revenue base and augment its research and development pipeline, the release said. “We are excited to announce that we have completed the acquisition of Hi-Tech, our largest acquisition to date,” Raj Rai, CEO of Akorn, said in the release. “We welcome our new colleagues from the Hi-Tech team and look forward to collaborating with them on the future direction of our company. Our (Read more...)

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