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Stock Market & Financial Investment News

News Breaks
June 20, 2014
11:29 EDTACT, AKRXFTC approves settlement with Akorn over Hi-Tech Pharmacal acquisition
The Federal Trade Commission has approved a final order settling charges that Akorn Enterprises’ (AKRX) $640M acquisition of Hi-Tech Pharmacal was anticompetitive and would lead to higher prices for consumers in several current and future generic drug markets. The final order settling the FTC’s charges requires the parties to sell either Akorn’s or Hi-Tech’s rights and assets to each of five drug products to Watson Laboratories (ACT) and required Akorn to assign Watson its contract for making a currently available branded and generic topical anesthetic cream within 10 days after the deal is completed. Reference Link
News For AKRX;ACT From The Last 14 Days
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June 19, 2015
08:56 EDTAKRXAkorn hacked, customer records stolen, CSO reports
Pharmaceutical company Akorn had its computer systems hacked and the perpetrator is ransoming the customer database, which includes more than 50,000 records, back to the company or threatening to sell the data to the highest bidder, reported CSO. When contacted for comment, Akorn confirmed the breach and stated that they were alerting customers and cooperating fully with law enforcement officials, including the DEA. "Although much of the information acquired is publicly available, we are in the process of notifying our valued customers about this incident," Akorn stated. Reference Link

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