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Hi-Tech stock surging on Par Pharmaceutical buyout

Monday July 16, 2012 2:16 PM By Lisa Du

Hi-Tech Pharmacal employees at the Amityville plant in

Photo credit: Tom Decker, 2010

Share prices for Amityville-based drugmaker Hi-Tech Pharmacal have been surging through the trading day on news of a $1.9 billion buyout within the pharmaceutical industry.

Hi-Tech's stock is up over 11 percent Monday amid speculation about other companies in the same sector that may be acquired after the announcement of Par Pharmaceutical's buyout by private equity group TPG.

New Jersey-based...

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