Big pharma, Diagnostics, M&A, Pharma

ECR Pharma is acquired by Valeant

Posted on 23 June 2014

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Akorn has sold its subsidiary, ECR Pharmaceuticals, to Valeant Pharmaceuticals for $41 million in cash and assumption of certain liabilities.

ECR, which promotes certain branded pharmaceuticals through its sales force, was acquired through the acquisition of Hi-Tech Pharmacal.

In light of this divestiture, Akorn will update its annual 2014 guidance during its fiscal second quarter earnings call in early August.

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