January 23, 2014
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Hi-Tech Pharmacal receives FDA approval for bromfenac ophthalmic solution

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The U.S. Food and Drug Administration has approved the abbreviated new drug application for once-daily bromfenac ophthalmic solution 0.09%, according to a press release from Hi-Tech Pharmacal.

Bromfenac is used to treat inflammation and ocular pain after cataract surgery. Hi-Tech plans to immediately launch the generic drug.

Hi-Tech also announced in the release that its acquisition by Akorn is expected to close in the first quarter of this year. The companies announced the acquisition in August 2013, and Akorn is expected to pay $640 million, or $43.50 per share in cash, to close the transaction.