Akorn (AKRX) Acquires Advanced Vision Research in $26M Deal; to Launch Consumer Health Division

Akorn, Inc. (Nasdaq: AKRX) reports that it has entered into an agreement for the acquisition of Advanced Vision Research, Inc., for $26 million cash.

In 2010, AVR generated sales of $20 million, which consisted of domestic sales through major retail chains and sales in 20 countries across 5 continents.

Akorn also announced plans to launch a new Consumer Health Division to enter the $1.2 billion OTC eye care market, pending the acquisition of AVR.

The Company expects the AVR acquisition to be neutral to its 2011 earnings per share after the impact of transaction related expenses and the impact of purchase price allocation of $0.01 to $0.02 in earnings per share. In 2012, AVR is expected to be accretive by $0.03 to $0.04 earnings per share.

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