Akorn Completes Acquisition of VersaPharm

Akorn, Inc. a specialty pharmaceutical company, has completed its previously announced acquisition of VPI Holdings Corp., the parent company of VersaPharm Incorporated, for $440 million. VersaPharm, based in Marietta, Georgia, is a privately held developer and marketer of multisource prescription pharmaceuticals for niche areas in dermatology, tuberculosis, and hemophilia.

The acquisition provides a complementary product portfolio to bolt on to Akorn’s $640 million acquisition of Hi-Tech Pharmacal Co., which closed earlier this year in April. Hi-Tech is a specialty pharmaceutical company developing, manufacturing, and marketing generic and branded prescription and over-the-counter (OTC) products. The Hi-Tech acquisition expanded Akorn’s manufacturing capabilities into additional niche dosage forms, including nasal sprays, topical gels, creams, ointments, and oral liquids. It also provided the company with additional breadth in the retail OTC market.

Akorn Inc. is engaged in the development, manufacture and marketing of multisource and branded pharmaceuticals. Akorn has manufacturing facilities located in Decatur, Illinois; Somerset, New Jersey; Amityville, New York; and Paonta Sahib, India, where the company manufactures sterile ophthalmic and injectable pharmaceuticals and non-sterile nasal sprays, oral liquids, and topical creams and ointments.

Source: Akorn

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