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Hi-Tech Deal Broadens Akorn Consumer Business

Akorn’s $650 million acquisition of Hi-Tech Pharmacal provides a potential long-term platform for Rx-to-OTC switches and offers additional OTC cross-selling opportunities with retailers. Akorn CEO Raj Rai calls the transaction a “transformative event” that will be instantly accretive for the firm.

Specialty pharmaceutical firm Akorn Inc. expands its consumer health care business through the acquisition of Hi-Tech Pharmacal Co. Inc., a $650 million deal that also will increase its pipeline of ophthalmic products and manufacturing capacity.

In the transaction announced Aug. 27, Akorn gains Hi-Tech consumer products including Diabetic Tussin and other OTCs marketed to consumers...

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