April 22, 2018 / 5:23 PM / a year ago

Fresenius pulls out of Akorn takeover over data integrity

BERLIN, April 22 (Reuters) - German healthcare group Fresenius SE said it had decided to pull out of its planned acquisition of Akorn after its own investigation found data integrity breaches at the U.S. generic drug maker.

Fresenius agreed last year to buy the U.S. maker of liquid generic drugs for $4.75 billion but the deal has been marred by allegations that Akorn breached U.S. Food and Drug Administration data integrity requirements related to product development.

"Fresenius' decision is based on, among other factors, material breaches of FDA data integrity requirements relating to Akorn's operations found during Fresenius' independent investigation," it said in a statement on Sunday. (1 euro = $1.2298) (Reporting by Caroline Copley Editing by Victoria Bryan)

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