Healthcare Industry News: Akorn
News Release - June 17, 2009
Akorn Acquires Capastat Sulfate from Eli Lilly and Company
LAKE FOREST, Ill.--(HSMN NewsFeed)--Akorn, Inc. (NASDAQ: AKRX) today announced that it has entered into an agreement to acquire from Eli Lilly and Company (NYSE: LLY ) all rights in the U.S. and Canada to manufacture, market and sell the lyophilized antibiotic Capastat® Sulfate (capreomycin for injection, USP). Akorn will own the Capastat NDA and expects to launch the product in the third quarter of this year.Raj Rai, Akorn's Interim Chief Executive Officer, stated, “Capastat represents an excellent fit within Akorn’s strengths and capabilities. This product has been a mainstay in treating TB for over thirty years and complements Rifampin used in the treatment of tuberculosis, which Akorn currently markets through its joint-venture affiliate, Akorn-Strides.”
About Akorn, Inc.
Akorn, Inc. 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.
This press release includes statements that may constitute "forward-looking statements", including with regard to the company's future operations and its earnings expectations. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Because such statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with a discussion of future operating or financial performance. Factors that could cause or contribute to such differences include, but are not limited to: statements relating to future steps we may take, prospective products, future performance or results of current and anticipated products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, and financial results. These cautionary statements should be considered in connection with any subsequent written or oral forward-looking statements that may be made by the company or by persons acting on its behalf and in conjunction with its periodic SEC filings. You are advised, however, to consult any further disclosures we make on related subjects in our reports filed with the SEC. In particular, you should read the discussion in the section entitled "Cautionary Statement Regarding Forward-Looking Statements" in our most recent Annual Report on Form 10-K, as it may be updated in subsequent reports filed with the SEC. That discussion covers certain risks, uncertainties and possibly inaccurate assumptions that could cause our actual results to differ materially from expected and historical results. Other factors besides those listed there could also adversely affect our results.
Source: Akorn
Issuer of this News Release is solely responsible for its
content.
Please address inquiries directly to the issuing company.
