Key Developments: Akorn Inc (AKRX.O)

AKRX.O on Nasdaq

34.03USD
21 Jul 2014
Price Change (% chg)

$-0.13 (-0.38%)
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$34.16
Open
$34.08
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$34.40
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$33.52
Volume
568,875
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$37.08
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Latest Key Developments (Source: Significant Developments)

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 Inc Acquires Three Branded Ophthalmic Products From Merck
Friday, 15 Nov 2013 09:00am EST 

Akorn, Inc announced that it has acquired from Merck, the U.S. rights to three branded ophthalmic products, including those product rights obtained through the acquisition of Inspire Pharmaceuticals, Inc., a subsidiary of Merck, for $52.8 million in cash. Products included in this transaction are AzaSite, COSOPT and COSOPT PF. In addition, Akorn has signed a two-year supply agreement with Merck as well as a transition services agreement with customary terms. Akorn plans to ship COSOPT and COSOPT PF immediately upon close and expects to begin shipping AzaSite in the first quarter of 2014.  Full Article

Akorn Inc Sees FY 2013 Revenue Outlook At Upper End Of Prior Range And Sees FY 2013 EPS Outlook In Line With Prior Range
Tuesday, 5 Nov 2013 06:00am EST 

Akorn Inc announced that it expects fiscal 2013 revenue at the upper end of the previously issued range of $305 million to $315 million and expects adjusted net income per diluted share (EPS) in line with the previously issued range of $0.53 to $0.55. Fiscal 2013 outlook excludes the impact of any new product approvals after November 5, 2013. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $315 million and EPS of $0.55 for fiscal 2013.  Full Article

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