LAKE FOREST, Ill. April 14, 2014--(BUSINESS WIRE)--Akorn, Inc. (NASDAQ: AKRX) today announced that the U.S. Federal Trade Commission (FTC) has voted to approve Akorn’s acquisition of Hi-Tech Pharmacal Co., Inc. (NASDAQ: HITK). The unanimous vote in support of the transactions follows Akorn’s agreement to a proposed consent order requiring divestiture of certain products as a condition to obtaining FTC approval. The parties have now obtained all regulatory approvals required to consummate the acquisition, and intend to close by the end of this week.
About Akorn, Inc.
Akorn, Inc. is a niche pharmaceutical company engaged in the development, manufacture and marketing of multisource and branded pharmaceuticals. Akorn has manufacturing facilities located in Decatur, Illinois; Somerset, New Jersey and Paonta Sahib, India where the Company manufactures sterile ophthalmic and injectable pharmaceuticals. Additional information is available on the Company’s website at www.akorn.com.
Contacts
Akorn, Inc.
Tim Dick, Chief Financial Officer
(847) 279-6150
Alpha IR Group
Chris Hodges
(312) 445-2870