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 and brand pharmaceutical products. Co. is also developing biosimilar pharmaceutical products, and out-licenses generic pharmaceutical products primarily in Europe through its third-party business. Co. operates in three segments: Actavis Pharma, which its U.S. portfolio consist of approx. 250 generic pharmaceutical product families; Actavis Specialty Brands, which has portfolio of over 40 brand pharmaceutical products; and Anda Distribution, which distributes generic and selected brand pharmaceutical products, vaccines, injectables and over-the-counter medicines.
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