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Akorn reports 2013 fourth quarter, year-end financials

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Akorn reported in a press release that its business grew by more than 20% in 2013 over 2012.

The company also announced the planned acquisition of Hi-Tech and completed acquisitions that expanded its branded ophthalmic portfolio.

Another key highlight from the report was a record year-end consolidated revenue of $317.7 million, an increase of 24% over the prior year, the company stated.

Akorn also celebrated a generated record operating cash flow of $57.3 million. The company completed the acquisition of the U.S. rights to three branded ophthalmic products from Merck: AzaSite (azithromycin), Cosopt (dorzolamide HCl-timolol maleate ophthalmic solution) and Cosopt PF.