Biotech Values

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Akorn acquires eye drop solutions from Merck in $52.8M deal
Niche generic maker Akorn (AKRX +4.5%) rises after announcing the acquisition of the U.S. rights to AzaSite, COSOPT, COSOPT PF (they're all eye drop solutions) from Merck (MRK +0.3%) for $52.8M.The move "further expands [our] position as a leader in U.S. ophthalmology products," AKRX CEO Raj Rai says.For MRK, the deal is consistent with its "ongoing strategy to sharpen commercial focus and improve operational effectiveness."