Actavis to acquire generics from Akorn

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Actavis to acquire generics from Akorn

Home/Pharma News | Posted 02/05/2014 0 Post your comment

US generics major Actavis announced on 17 April 2014 that it had made a deal with Akorn and Hi-Tech Pharmacal (Hi-Tech) to buy five of their products.

The deal will give Actavis access to three generic drug products – ciprofloxacin hydrochloride ophthalmic solution, levofloxacin ophthalmic solution and lidocaine hydrochloride jelly. The agreement also includes an originator product, Emla (lidocaine/prilocaine topical cream), and an undisclosed product under development.

The sale has come about as a result of, and is contingent upon, generic eye-drug maker Akorn’s acquisition of US specialty pharmaceutical business Hi-Tech [1].

The purchase of the five products is expected to complement the ‘expanding portfolio of topical and ophthalmic generic products’ for Actavis.

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Reference

1. GaBI Online - Generics and Biosimilars Initiative. Akorn to buy Hi-Tech Pharmacal for US$640 million [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2014 May 2]. Available from: www.gabionline.net/Pharma-News/Akorn-to-buy-Hi-Tech-Pharmacal-for-US-640-million

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Source: Actavis, Akorn