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Circa/Hi-Tech merger

This article was originally published in The Tan Sheet

Executive Summary

Circa Pharmaceuticals and Hi-Tech Pharmacal terminate merger discussions citing disagreements over "certain terms and conditions relating to the intended merger," the companies announced May 5. Circa and Hi-Tech will continue to work together under a development and marketing agreement initiated in early 1993 involving ANDAs for products in the anti- inflammatory, antibiotic and anti-ulcer areas. The companies announced March 22 that Circa would be acquiring Hi-Tech in a $65 mil. stock swap that would have combined Circa's solid oral dosage products with Hi-Tech's line of more than 75 liquid and semi-solid generic OTC and prescription drugs ("The Tan Sheet" March 28, p. 28)
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