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Actavis to Acquire Akorn Products

April 21, 2014

Expands portfolio of topical and ophthalmic generic products

Actavis plc has entered into agreements with Akorn, Inc. and Hi-Tech Pharmacal Co. to acquire four marketed products and one product in development, for an undisclosed cash consideration. The closing of the agreements are contingent upon Akorn's acquisition of Hi-Tech. Last August, Akorn entered an agreement to acquire Hi-Tech for $640 million in cash.

The marketed products include Ciprofloxacin Hydrochloride Ophthalmic Solution, Levofloxacin Ophthalmic Solution, Lidocaine Hydrochloride Jelly, and Lidocaine/Prilocaine Topical Cream. 

"The acquisition of these products will complement our expanding portfolio of topical and ophthalmic generic products, and further strengthen our position as a leader in developing and marketing the complex, high-barrier products that provide enhanced value," said Siggi Olafsson, president, Actavis Pharma.

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