Seeking Alpha

Akorn sheds pharma unit

  • Citing a poor strategic fit with its focus on niche dosage forms, Akorn (AKRX +3.3%) sells its subsidiary ECR Pharmaceuticals to Valeant Pharmaceuticals (VRX +2.9%) for $41M in cash and the assumption of certain liabilities. Akorn acquired the branded drug maker when it purchased Hi-Tech Pharmacal last year.
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