1. Home >
  2. M&A >
  3. Add-on Acquisition >
  4. United States >
  5. New York >
  6. Akorn Acquires Hi-Tech Pharmacal Co.

M&A Deal Summary

Akorn Acquires Hi-Tech Pharmacal Co.

On August 27, 2013, Akorn acquired medical products company Hi-Tech Pharmacal Co. for 640M USD

Acquisition Highlights
  • This is Akorn’s 1st transaction in the Medical Products sector.
  • This is Akorn’s largest (disclosed) transaction.
  • This is Akorn’s 3rd transaction in the United States.
  • This is Akorn’s 1st transaction in New York.

M&A Deal Summary
Date 2013-08-27
Target Hi-Tech Pharmacal Co.
Sector Medical Products
Buyer(s) Akorn
Deal Type Add-on Acquisition
Deal Value 640M USD
Advisor(s) Nomura Investment Bank (Financial)
Tashlik Goldwyn Levy
ArentFox Schiff (Legal)

Target

Hi-Tech Pharmacal Co.

Amityville, New York, United States
Hi-Tech is a specialty pharmaceutical company developing, manufacturing and marketing generic and branded prescription and over-the-counter (OTC) products. Hi-Tech specializes in difficult to manufacture liquid and semi-solid dosage forms and produces and markets a range of oral solutions and suspensions, as well as topical ointments and creams, nasal sprays, otics, sterile ophthalmics and sterile ointment and gels products.

Search 214,107 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

Akorn

Lake Forest, Illinois, United States
Category Company
Founded 1971
Sector Life Science
Employees1,972
Revenue 1.1B USD (2016)
DESCRIPTION

Akorn, Inc. is a niche generic pharmaceutical company engaged in the development, manufacture and marketing of multi-source and branded pharmaceutical products in the areas of ophthalmology, antidotes, anti-infectives, and controlled substances for pain management and anesthesia in the United States and across the globe. Akorn, Inc. was founded in 1971 and is based in Lake Forest, Illinois.

DEAL STATS #
Overall 3 of 5
Sector: Medical Products M&A 1 of 2
Type: Add-on Acquisition M&A Deals 3 of 4
State: New York M&A 1 of 1
Country: United States M&A 3 of 5
Year: 2013 M&A 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-05 Advanced Vision Research

Woburn, Massachusetts, United States

Advanced Vision Research, Inc. (“AVR”), a ophthalmic company that develops and markets eye care products under the TheraTears® and MacuTrition ® brand names. These products are used for dry eyes, eyelid hygiene, contact lens comfort and eye nutrition.

Buy $26M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-17 Akorn - 4 New Drug Applications

United States

Akorn - 4 New Drug Applications includes Ciprofloxacin Hydrochloride Ophthalmic Solution, Levofloxacin Ophthalmic Solution and Lidocaine Hydrochloride Jelly and one product marketed under a New Drug Application: Lidocaine/Prilocaine Topical Cream.

Sell -
Mergr

Solution for

Product

Company

Legal