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UPDATE 1-Akorn gets FDA nod for ocular anesthetic gel

Wed Oct 8, 2008 8:01am EDT

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Oct 8 (Reuters) - Specialty pharmaceutical company Akorn Inc (AKRX.O) said its Akten ophthalmic gel received approval from U.S. health regulators for use in ocular procedures that require a topical anesthetic agent. Akten, which would be launched in October, can be used in procedures like cataract surgery, refractive surgery, Lasik surgery and intravitreal injection, the company said.

Akorn said the estimated market size for Akten is about 11 million procedures annually. "We expect Akten to become the standard of care whenever an ocular anesthetic is prescribed. Akten will be manufactured at our Somerset, New Jersey facility and will be marketed directly to hospitals and ophthalmologists," Chief Executive Arthur Przybyl said in a statement.

Shares of the company closed at $3.61 Tuesday on Nasdaq. (Reporting by Esha Dey in Bangalore; Editing by Amitha Rajan)



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