Akorn Inc. (Nasdaq: AKRX) is buying generic drug developer VersaPharm for $440 million in cash—the latest example of a consolidating pharmaceutical sector.

The Marietta, Georgia-based company produces medicine that treats tuberculosis and other infectious diseases. The transaction cues an exit for New York private equity firm Tailwind Capital, which has owned VersaPharm since 2007. Tailwind, which was spun off from San Francisco-based investment bank Thomas Weisel Partners in 2006, is an active acquirer of healthcare businesses and communication services.

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