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.
Akorn, Inc.
Raj Rai
Interim CEO
(847) 279-6155
