Winds ENE at 5 to 10 mph. Eyes On Eyecare is currently distributing our 2023 media kit and Eyes On event prospectuses. Join to see who you already know at Akorn Pharmaceuticals. UPDATE - Akorn Issues Voluntary Nationwide Recall of Various Human and Akorns TheraTears eye care brand is used for relief of dry eyes. Part of Progressive Trade Media Ltd. Daiichi Sankyo to close Japanese research and development subsidiary, Solu Therapeutics raises funds to develop CyTaC platform and drug candidates, US FDA approves Avacta Groups IND application for AVA6000, AM-Pharma enrols first patients in Covid-19 phase III trial, Iovance Biotherapeutics submits BLA to FDA for advanced melanoma drug lifileucel, FDA accepts Valnevas chikungunya vaccine BLA for priority review, STADA to acquire Sanofis consumer healthcare brands, Danaher to acquire Aldevron from EQT for $9.6bn, PCI Pharma announces bottling line expansion at Rockford site, Prestige Consumer Healthcare to acquire Akorns brands for $230m. The company was founded in 1971 and is headquartered in Lake Forest, IL. The company makes and sells specialty therapeutic . The company dealt in developing, manufacturing and marketing of generic and prescription drugs as well as animal and consumer health products. LAKE FOREST, Ill., May 27, 2021 /PRNewswire/ -- Akorn Operating Company LLC ("Akorn" or the "Company"), a leading specialty pharmaceutical . There are no current stakeholders of Akorn. The closing of the transaction is subject to customary conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and is expected to occur in the third quarter of 2021. Click here to find [], The most recent short interest data has been released by the NASDAQ for the 02/13/2015 settlement date, which shows a 1,219,051 share increase in total short interest for Akorn Inc (NASD: AKRX), to 11,501,009, an increase of 11.86% since 01/30/2015. Akorn keeps pleasing its investors. Akorn develops, manufactures and markets specialty pharmaceuticals, including prescription, consumer health and animal health products. October 20th is Spirit Day We encouraged our associates to wear purple to show support for lesbian, gay, bisexual and transgender (LGBT) youth. What to know about Akorn Pharma's bankruptcy The generic pharmaceuticals manufacturer filed for Chapter 11 bankruptcy protection in late May 2020 in an attempt to complete a sale in court. (847) 279-6100 These forward-looking statements are based on information, plans and estimates at the date of this release. When typing in this field, a list of search results will appear and be automatically updated as you type. By signing up you agree to receive content from us. The company employed 400 employees at its U.S. locations, which included corporate headquarters in Gurnee, Illinois, as well as manufacturing plants located near Decatur, Illinois; Somerset, New Jersey; and Amityville, New York. Sign up to get PRNs top stories and curated news delivered to your inbox weekly! Who Owns Akorn Pharmaceuticals USA Health - endeavorga.org Get an email notification whenever someone contributes to the discussion. | At Akorn, we develop, manufacture and market specialty . Akorn Announces Completion of the Sale of its Branded Ophthalmic When expanded it provides a list of search options that will switch the search inputs to match the current selection. Under the deal, Tha Pharmaacquired seven products including established glaucoma therapies Zioptan, Cosopt, Cosopt PF, and Betimol, along with Azasite, Akten, and the ocular surface repair agent AcellFX. According to Boothe, the companys owners notified Akorns shareholders, creditors, and other interested parties that it would not provide the necessary funding needed to allow the business to continue to run while seeking additional funding options. The Company undertakes no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes. Prestige Consumer Healthcare chairman and CEO Ron Lombardi said: The acquisition is a match with our criteria that focuses on long-term brand building opportunities, fits with our business model and provides disciplined returns.. Cautionary Note Regarding Forward-Looking Statements. Akorn has Research and Development facilities in Vernon Hills, IL and Cranbury, NJ that provide a robust and continuous pipeline of new products. This small-cap generic pharmaceutical company's stock has been on a roll. Of the world's top 20 pharmas ranked by 2021 revenues, 12 had at least 10% . Akorn Pharmaceuticals to Close Following Second Bankruptcy Please contact Pharmacovigilance & Product Surveillance at: Phone: 1-800-932-5676. . Akorn has 5 employees across 15 locations and $682.43 m in annual revenue in FY 2019. "Akorn's new shareholders have appointed a strong board of independent pharmaceutical industry and finance professionals with a mandate to steward the Company towards long-term value creation," said Robert Webster, Akorn's new Chairman. Gurnee, IL, Akorn Operating Company LLC has filed Chapter 7 bankruptcy on February 23, 2023. When typing in this field, a list of search results will appear and be automatically updated as you type. Sign up to get PRNs top stories and curated news delivered to your inbox weekly! Akorn Pharmaceuticals (Akorn Operating Company LLC) has filed for Chapter 7 bankruptcy, layed off its entire workforce without severance pay, and closed all its U.S. sites, according to a company letter issued by President and CEO Douglas S. Boothe and posted in the Herald & Review on February 22, 2023. When typing in this field, a list of search results will appear and be automatically updated as you type. It specializes in difficult-to-manufacture sterile and non-sterile dosage forms including: ophthalmics, injectables, oral liquids, otics, topicals, inhalants, and nasal sprays. Akorn Inc. Akorn, Inc. is a niche pharmaceutical company that develops, manufactures, and markets generic and branded prescription pharmaceuticals. accounts, the history behind an article. Akorn fallout: Local businesses impacted by unexpected closure sold Akorn - Consumer Health Business to Prestige Consumer Healthcare for $230M. Akorn, Inc. is a niche pharmaceutical company that develops, manufactures, and markets generic and branded prescription pharmaceuticals. 28 Jan, 2022, 11:00 ET. Find people you know at Akorn Pharmaceuticals, Information Technology Services Manager jobs, Director of Manufacturing Engineering jobs. "The sale of the Consumer Health business enables us to optimize our core prescription drug portfolio and enhances our capacity to make growth oriented investments" said Douglas Boothe, Akorn's President and Chief Executive Officer. A pair trade could mitigate the risk of the healthcare sector's volatility as M&A talks ramp up. We remain committed to delivering enhanced value for patients and the Akorn enterprise and stakeholders.". As an industry leader in branded and generic products in alternate dosage forms such as ophthalmics, injectables, oral liquids, otics, topicals, inhalants and nasal sprays, we focus each day on our mission to improve lives, through the quality, availability and affordability of our products. Akorn Company Profile - Office Locations, Competitors, Revenue Based in Clermont-Ferrand, France, it has thirty-five affiliates & offices in Europe, North and South America . Credit: Sofie Zboilov from Pixabay. Akorn Announces Agreement to Sell its Consumer Health Business to Akorns largest acquisition to date was in 2013, when it acquired Hi-Tech Pharmacal for $640M. Threats of harming another Moving forward Akorn will invest in its facilities and targeted avenues of growth such as its animal care and human generics businesses.". Recently Acquired United States Companies, M&A research that takes seconds (not all afternoon), Better understand your customers and prospects. Akorn's manufacturing facilities are located in Decatur, IL; Somerset, NJ; Amityville, NY and Hettlingen, Switzerland. The Company manufactures sterile and non-sterile . Its largest disclosed sale occurred in 2021, when it Credit: Sofie Zboilov from Pixabay. We are a vibrant pharmaceutical company dedicated to improving patients lives. In 2020, the company filed for Chapter 11 bankruptcy. Check out our open positions! [2] Prestige Consumer Healthcare has agreed to acquire specialty pharmaceuticals provider Akorn Operating Companys Consumer Health business for approximately $230m. This brand is expected to expand Prestiges eye care franchise and provide further growth opportunities in the dry eye sector. Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day. The CressCap model has identified a a potential pair trade in the healthcare sector with buy recommendations on Centene (CNC-US) and Humana (HUM-US)as well as a sell opportunity in Akorn (AKRX-US). Keep it Clean. May 21, 2020 06:17 AM (Bloomberg)Generic drug maker Akorn Inc. filed for bankruptcy after unease surrounding its quality control methods resulted in a failed takeover bid and warning letters. Officials said the sale would allow the company to . United States, , . 1925 West Field Court, Suite 300, Illinois Investigating Drugmaker Akorn's Abrupt Closure ", Boothe continued, "This transaction represents the continued execution of our strategy to focus on our strong portfolio of prescription pharmaceutical products. The company markets its products to retail pharmacies, ophthalmologists, optometrists, physicians, veterinarians, hospitals, clinics, wholesalers, distributors, group purchasing organizations, and government agencies. This button displays the currently selected search type. After years of financial problems, the . Sep 2, 2020 Updated Sep 2, 2020 0 LAKE FOREST, Ill. (WAND) Akorn Inc. will be sold to its existing lenders after receiving approval from the United States Bankruptcy Court for the District of. ", Douglas Boothe, Akorn's President and Chief Executive Officer, commented, "I'm thrilled that Akorn's new owners have assembled such an experienced team of industry and financial experts. The seven established brands included in the transaction are: Greenhill & Co., LLC is serving as the financial advisor and Willkie Farr & Gallagher LLP is serving as legal counsel to Akorn on the transaction. [5] By 2023, Apotex employed close to 8,000 people as Canada's largest drug manufacturer, with over 300 products selling in over 115 countries. This pharmaceutical company is raising guidance after reporting another strong quarter. www.akorn.com. In a news release, officials said the sale will allow the company to "move beyond the Chapter 11 process.". Low 72F. Research and development facilities were based in Vernon Hills, Illinois, and Cranbury, New Jersey. Despite initiating a process to sell the company, Akorn failed to receive an appropriate bid to cover outstanding liabilitiesincluding debt. William Blair is serving as exclusive financial advisor and Willkie Farr & Gallagher LLP is serving as legal counsel to Akorn for the transaction. "We look forward to emerging as a more vibrant company, even better positioned to improve patients lives through the quality, availability and affordability of our products," the news release said. Leaked Akorn video confirms company closure and mass layoffs Akorn Pharmaceuticals , . Health (5 days ago) Akorn Operating Company LLC (Akorn Inc. prior to its bankruptcy) is an American generic pharmaceuticals manufacturer based in Lake Forest, Illinois. The new board appointments follow the completion of the sale of Akorn on October 1, 2020. In March 2022, seven of its branded ophthalmic products were acquired by Tha Pharma, Inc. Later in July, the company closed its Somerset, New Jersey, manufacturing plantlaying off 240 employees. Use Forbes logos and quotes in your marketing. July 16, 2023, 3:00 AM PDT By Berkeley Lovelace Jr. Akorn has William Blair as financial advisor and Willkie Farr & Gallagher as legal counsel. When typing in this field, a list of search results will appear and be automatically updated as you type. Mit Ihrer Anmeldung erklren Sie sich damit einverstanden, Inhalte von uns zu erhalten. A timeline of Akorn Pharmaceuticals in Decatur - Herald & Review The Company undertakes no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes. We are confident that Prestige is the right owner. When Akorn Pharmaceuticals shut its doors in February, hospitals across the country felt it. Cautionary Note Regarding Forward-Looking Statements. Pharmaceutical Manufacturer Pays $7.9 Million to Resolve Allegations A number of important factors could cause actual results of the Company and its subsidiaries to differ materially from those indicated by such forward-looking statements and readers should not place undue reliance on the Company's forward-looking statements. The Worker Adjustment and Retraining Notification (WARN) Act under federal and Illinois law outlines these financial penalties along with a potential scenario where employers would have to give back pay and benefits for the period of violationup to 60 days. Apotex - Wikipedia Akorn has acquired 5 companies of its own. The generic pharmaceuticals manufacturer, which operates two facilities in Decatur, filed for Chapter 11 bankruptcy protection in late May in an attempt to complete a sale in court. LAKE FOREST, Ill., March 9, 2022 /PRNewswire/ -- Akorn Operating Company LLC ("Akorn" or the "Company"), a leading specialty pharmaceutical company, announced today the completion of its previously announced sale of seven branded ophthalmic products to Tha Pharma. Total short interest is just one way to look at [], Investors eyeing a purchase of Akorn Inc (NASD: AKRX) shares, but cautious about paying the going market price of $13.66/share, might benefit from considering selling puts among the alternative strategies at their disposal. Add alert CUSIP Number: 009728106 Tip: Access positions for across all investors Analyze quarterly positions in Akorn with up to 7 years of data, all consolidated into one spreadsheet Download as csv Download as Excel Top investors of Akorn stock Who bought or sold Akorn this quarter? For Akorn, the divestiture is intended to allow focus on its portfolio of core prescription drugs, along with investments to support growth. , . Lake Forest, Illinois Pharmaceuticals, Biotechnology & Life Sciences, Asthma Drug Albuterol Shortage Is About To Worsen: Heres WhyAnd How Hospitals Are Filling The Gaps, Centene And Humana Have A Good Prognosis Now That Amazon Is Backing Out Of Healthcare, Akorn Moves Up In Market Cap Rank, Passing Discovery Communications, Akorn Stock Sees Short Interest Expand By 12%, Commit To Purchase Akorn At $12.50, Earn 9.2% Annualized, Akorn Sprouting Quickly Up The Charts, Growth Supports Stock Price, Rising Estimates Show Akorn To Be Apple Of Analysts' Eyes, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. The company delivers a third of all pharmaceuticals used in North America and employs over 78,000 employees. McKesson Corporation is an American company distributing pharmaceuticals and providing health information technology, medical supplies, and care management tools. The company deals in developing, manufacturing and marketing of generic and prescription drugs as well as animal and consumer health products. Please avoid obscene, vulgar, lewd, Cautionary Note Regarding Forward-Looking Statements. LAKE FOREST, Ill., May 27, 2021 /PRNewswire/ --Akorn Operating Company LLC ("Akorn" or the "Company"), a leading specialty pharmaceutical company, announced today that it has entered into a definitive agreement to sell its Consumer Health business to an affiliate of Prestige Consumer Healthcare Inc. ("Prestige") for a total enterprise value of $230 million, which will be paid in cash. High 91F. As an industry leader in branded and generic products in alternate dosage forms such as ophthalmics, injectables, oral liquids, otics, topicals, inhalants and nasal sprays, we focus each day on our mission to improve lives, through the quality, availability and affordability of our products. Akorn, Inc. was founded in 1971 and is based in Lake Forest, Illinois. The Companys most targeted sectors include life science (40%) and medical products (40%). each comment to let us know of abusive posts. racist or sexually-oriented language. , . Spirit Day started in 2010 and the color purple symbolizes spirit on the rainbow flag. On September 15, 2022, the Department of Justice (DOJ) announced a $7.9 million settlement with generic manufacturer Akorn Operating Company LLC (Akorn) to resolve allegations that Akorn caused the submission of over-the-counter (OTC) drugs to Medicare Part D in violation of the False Claims Act (FCA). TheraTears eye care brand, used for relief of dry eyes, represents nearly 80% of the revenues of Akorns consumer product portfolio. Additional information is available on Akorn's website atwww.akorn.com. 27 May, 2021, 08:30 ET. Akorn Announces Agreement to Sell its Branded Ophthalmic Products to Tha This press release includes statements that may constitute "forward-looking statements," including those regarding the Company's long-term business plan and outlook. Akorn has acquired in 4 different US states. Working at Akorn | Glassdoor Akorn to Acquire Hi-Tech Pharmacal for $640 Million -- Over $500 million in combined revenues -- -- Immediately accretive to non-GAAP earnings, before synergies -- -- $15-20 million in annual.
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