Key Developments: Akorn Inc (AKRX.O)

AKRX.O on Nasdaq

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Latest Key Developments (Source: Significant Developments)

Akorn Inc completes acquisition of VersaPharm
Tuesday, 12 Aug 2014 08:51am EDT 

Akorn Inc:Completed acquisition of VPI Holdings Corp., the parent company of VersaPharm Incorporated, for $440 million.  Full Article

Akorn Inc raises FY 2014 guidance
Tuesday, 5 Aug 2014 06:04am EDT 

Akorn Inc:Raises FY 2014 outlook to revenue range of $580 mln to $600 mln and adjusted net income per diluted share (EPS) range of $1.00 to $1.05.Expects FY 2014 GAAP net income in the range of $63-69 mln.Expects FY 2014 net income per diluted share in the range of $0.53-0.58.Expects FY 2014 adjusted net income in the range of $118-125 mln.FY 2014 revenue of $577 mln, net income of $100 mln and EPS of $0.85 - Thomson Reuters I/B/E/S.  Full Article

Akorn Inc divests ECR Pharmaceuticals to Valeant
Friday, 20 Jun 2014 11:11am EDT 

Akorn Inc:Says it sold its subsidiary, ECR Pharmaceuticals (ECR), to Valeant Pharmaceuticals for $41 mln in cash and assumption of certain liabilities.ECR, which promotes certain branded pharmaceuticals through its sales force, was acquired through the acquisition of Hi-Tech Pharmacal.  Full Article

Akorn to acquire VersaPharm for $440 mln
Friday, 9 May 2014 09:18am EDT 

Akorn Inc:To acquire VPI Holdings Corp., the parent company of VersaPharm Inc, for $440 mln in cash.  Full Article

Akorn Inc reaffirms FY 2014 revenue guidance; raises FY 2014 earnings guidance
Tuesday, 6 May 2014 07:00am EDT 

Akorn Inc:Expects FY 2014 total revenues of $540-560 mln.Expects FY 2014 GAAP net income of $51-53 mln.Expects FY 2014 GAAP net income per diluted share of $0.43-0.45.Expects FY 2014 adjusted net income of $94-97 mln.Expects FY 2014 Adjusted net income per diluted share of $0.79-0.82.FY 2014 net income of $96 mln - Thomson Reuters I/B/E/S.  Full Article

Actavis plc to Acquire Four Products from Akorn
Thursday, 17 Apr 2014 04:15pm EDT 

Actavis plc:Enters into agreements with Akorn, Inc. and Hi-Tech Pharmacal Co. Inc.To purchase four currently marketed products and one product under development for cash consideration.Financial terms of the agreements were not disclosed.  Full Article

Akorn Inc completes acquisition of Hi-Tech Pharmacal Co Inc
Thursday, 17 Apr 2014 09:20am EDT 

Akorn Inc:Completes acquisition of Hi-Tech Pharmacal Co., Inc. for $640 mln in cash.  Full Article

Akorn Inc receives FTC clearance for Hi-Tech Pharmacal Co Inc acquisition
Monday, 14 Apr 2014 07:00pm EDT 

Akorn Inc:Says that U.S. Federal Trade Commission (FTC) has voted to approve Akorn's acquisition of Hi-Tech Pharmacal Co Inc.Says unanimous vote in support of transactions follows Akorn's agreement to proposed consent order requiring divestiture of certain products as a condition to obtaining FTC approval.Parties have now obtained all regulatory approvals required to consummate the acquisition, and intend to close by end of this week.  Full Article

Akorn Inc gives FY 2014 outlook below analysts' estimates
Monday, 3 Mar 2014 06:00am EST 

Akorn Inc:Expects FY 2014 total revenues of $540- $560 mln.Expects FY 2014 GAAP net income of $53 -$57 mln.Expects FY 2014 GAAP net income per diluted share of $0.45 -0.48.Expects FY 2014 adjusted net income of $90 -$93 mln.Expects FY 2014 Adjusted net income per diluted share of $0.76 - 0.79.FY 2014 revenue of $575 mln, net income of $105 mln, EPS of $0.85 - Thomson Reuters I/B/E/S.  Full Article

Akorn Inc acquires Betimol from Santen
Thursday, 9 Jan 2014 01:40pm EST 

Akorn Inc:Says it has acquired the NDA and all rights to Betimol (timolol ophthalmic solution) 0.25 pct & 0.5 pct from Santen.Says it plans to begin shipping Betimol in the first quarter of 2014.  Full Article

Akorn wins U.S. approval to buy VersaPharm

WASHINGTON - Pharmaceutical company Akorn Inc has won U.S. antitrust approval to buy specialty prescription drug company VersaPharm Inc on condition it sell its rights to a generic tuberculosis drug, the Federal Trade Commission said on Monday.

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