Hi-Tech Pharmacal: Actavis to Acquire Four Products from Akorn; Terms Undisclosed

Actavis plc (NYSE: ACT), a leading global specialty pharmaceutical company, today announced that it has entered into agreements with Akorn, Inc. and Hi-Tech Pharmacal Co. Inc. to purchase four currently marketed products and one product under development for cash consideration.  The closing of the purchase agreements are contingent upon the consummation of Akorn's acquisition of Hi-Tech.  Financial terms of the agreements were not disclosed.The agreements include three products marketed under Abbreviated New Drug Applications — Ciprofloxacin Hydrochloride Ophthalmic Solution, Levofloxacin Ophthalmic Solution and Lidocaine Hydrochloride Jelly ...