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BREAKING- Hi-Tech Pharmacal Halted (HITK)

Update: Akorn to acquire Hi-Tech Pharmacal for $640 million in cash. Read the full release here.

Shares of Hi-Tech Pharmacal (NASDAQ: HITK) are halted with news pending. The $478 million company trades about 78,000 shares daily and is down about 1 percent year to date.

 

Company Profile:

Hi-Tech Pharmacal Co., Inc., a specialty pharmaceutical company, develops, manufactures, and markets generic and branded prescription, and over-the-counter (OTC) products in the United States. It operates in three segments: Generic Pharmaceuticals, OTC Branded Pharmaceuticals, and Prescription Brands. The company manufactures liquid and semi-solid dosage forms; and produces a range of sterile ophthalmic, otic, and inhalation products.

[stock-tools exchange="NASDAQ" symbol="HITK" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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