Fresenius Terminates $4.3 Billion Akorn Takeover After Probe (1)

Fresenius SE walked away from its pending $4.3 billion acquisition of Akorn Inc. after a probe found problems with product development and other data, the end of one attempt to buy a stronger position in the U.S. generic-drug market.

The German company said its outside experts found “material breaches” of U.S. Food and Drug Administration data-integrity standards while reviewing Akorn’s operations. In a statement April 22, Fresenius said it had offered to delay its decision until Akorn had completed its own investigation, but was turned down.

Investors had become increasingly wary of the deal since Fresenius announced it a year ...