Actavis To Buy Four Products From Akorn

(RTTNews) - Actavis plc (ACT) said Thursday 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 agreements include three products marketed under Abbreviated New Drug Applications — Ciprofloxacin Hydrochloride Ophthalmic Solution, Levofloxacin Ophthalmic Solution and Lidocaine Hydrochloride Jelly — and one product marketed under a New Drug Application: Lidocaine/Prilocaine Topical Cream. The agreements also include one product under development.

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.