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Fly News Breaks for April 23, 2018
FSNUY, AKRX
Apr 23, 2018 | 08:50 EDT
Craig-Hallum analyst Matt Hewitt lowered his price target for Akorn (AKRX) to $14 from $34 after acquirer Fresenius (FSNUY) announced that it has terminated the $4.3B Akorn acquisition after an independent investigation into potential FDA data integrity issues related to product development has found "material breaches" at the latter's Lake Forest, IL facility. The analyst reiterates a Hold rating on Akorn's shares.
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