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Slide #31. Actavis — Four Products from Akorn
Four Products from Akorn
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.
Actavis is a pharmaceutical company engaged in the development, manufacturing, marketing, sale and distribution of generic, branded generic, brand name, biosimilar and over-the-counter pharmaceutical products. Co. also develops and out-licenses generic pharmaceutical products primarily in Europe through its Medis third-party business. Co. has three reporting segments which includes Actavis Pharma, Actavis Specialty Brands, and Anda Distribution. As of Dec 31 2013, Co.'s portfolio included approximately 250 generic pharmaceutical product families and approximately 45 brand pharmaceutical product families.
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Strong Buy (3.78 out of 4)
(ranked higher than approx. 81% of all stocks covered)
Based on Zacks ABR data;
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