Akorn Inc to buy Hi-Tech Pharmacal for $640 million
Eye-care specialist, Akorn Inc, has agreed to buy Hi-Tech Pharmacal Co. for $640 million in cash. This will allow Akorn to expand into areas including cold and cough treatments. Akorn, maker of generic eye products, said the acquisition will add to earnings as soon as the deal is completed.
The combined company is said to expect annual revenue of more than $500 million.
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