Akorn To Buy Hi-Tech

Akorn Inc. (Nasdaq: AKRX) will pay a premium of approximately $640 million in cash to acquire rival generic drug maker Hi-Tech Pharmacal Co. Inc. (Nasdaq: HITK). Shares of Akorn climbed $1.61 to $18.05 while Hi-Tech Pharmacal stock leaped $7.85 to $43.06.

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