Pharmaceutical company Akorn Inc has won U.S. antitrust approval to purchase specialty prescription drug company VersaPharm Inc on condition it sell its rights to a generic tuberculosis drug, the Federal Trade Commission said on Monday. Illinois-based Akorn said in May that it planned to buy VersaPharm Inc for $440 million, citing the privately held company's work in developing and marketing drugs to treat hemophilia and tuberculosis, among other conditions.To win antitrust approval, the companies agreed to divest Akorn's right to make a generic version of the tuberculosis drug rifampin. VersaPharm is one of three companies that make the drug, the FTC said.Watson Laboratories, a subsidiary of Actavis plc, has agreed to buy Akorn's rights to rifampin, the FTC said.Akorn closed at $34.33 per share, up about 1 percent, in U.S. trading.
Shares of ACT fell by 0.52% or $-1.12/share to $215.77. In the past year, the shares have traded as low as $130.06 and as high as $230.77. On average, 2232400 shares of ACT exchange hands on a given day and today's volume is recorded at 3518260.
Akorn, Inc. (Akom) is a manufacturer and markets a full line of diagnostic and therapeutic ophthalmic pharmaceuticals, as well as niche hospital drugs and injectable pharmaceuticals. Shares of AKRX traded higher by 0.97% or $0.33/share to $34.33. In the past year, the shares have traded as low as $14.11 and as high as $37.08. On average, 976092 shares of AKRX exchange hands on a given day and today's volume is recorded at 977485.
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