Healthcare Industry News:  Glaucoma 

Biopharmaceuticals Ophthalmology Generics

 News Release - January 9, 2007

Akorn, Inc. Signs Exclusive Definitive Agreement For the Development and Supply of Three Ophthalmic ANDA Drug Products

BUFFALO GROVE, Ill.--(HSMN NewsFeed)--Akorn, Inc. (AMEX: AKN ) today announced that it has signed a Definitive Agreement with Azad Pharma, a privately-held pharmaceutical company located in Toffen, Switzerland, to develop and supply Latanoprost, Bimatoprost and Travoprost, three ophthalmic ANDA drug products for the treatment of Glaucoma. The total United States market size for these three products is $870M, according to 2006 IMS data.

The drug products are expected to be manufactured by Taejoon Pharmaceutical Co. Ltd., located in Seoul, South Korea. Azad is the Agent for Taejoon Pharmaceuticals in this Agreement. Taejoon and Azad are responsible for completion of the Regulatory dossiers and upon ANDA approval, will manufacture and supply the products to Akorn in a blow-fill seal container closure system.

Akorn is responsible for the Regulatory filings of the ANDA's and will own the ANDA's. As part of this Agreement, Akorn will have exclusive Marketing and Distribution rights for the three drug products in the U.S. and Canada. Akorn expects to launch and market the drug products based on their respective patent expiry dates.

Arthur S. Przybyl, Akorn's President and Chief Executive Officer stated, "This Agreement continues to broaden our product development efforts in ophthalmology. Currently, we have eight ophthalmic ANDA submissions on file with the Office of Generic Drugs, have announced a tentative approval for Diclofenac, and are preparing to file an NDA for Akten, indicated for ocular anesthesia soon after announcing the results of our 200 patient clinical trial in January 2007.

"This Agreement with Azad and Taejoon represents Akorn's first Business Development partnership in the Pacific Rim."

Mike Baronian, Azad Pharma's Chairman and Chief Executive Officer stated, "Azad Pharma's focus is in Oncology and Ophthalmology and Akorn's core competence in Ophthalmology in the North American market makes it an ideal partner to penetrate this very exciting market , using Taejoon's excellent product portfolio."

About Akorn, Inc.

Akorn, Inc., headquartered in Buffalo Grove, Illinois, develops, manufactures and markets sterile specialty pharmaceuticals. Akorn has manufacturing facilities located in Decatur, Illinois and Somerset, New Jersey and markets and distributes an extensive line of hospital and ophthalmic pharmaceuticals. Additional information is available at the Company's website at www.akorn.com.

About Azad Pharma AG

Azad Pharma AG is a recognized generic manufacturer, principally in the fields of ophthalmology, prostaglandins, and parenteral drugs, both with regard to the supply of API and finished dosage form finished products. Additional information is available at the Company's website at www.azad.ch.

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Source: Akorn

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