Key Developments: Akorn Inc (AKRX.O)

AKRX.O on Nasdaq

38.06USD
19 Dec 2014
Price Change (% chg)

$-0.35 (-0.91%)
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$38.41
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Latest Key Developments (Source: Significant Developments)

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

Akorn Inc Reaffirms FY 2013 Guidance
Monday, 28 Oct 2013 07:00pm EDT 

Akorn Inc reaffirmed fiscal 2013 guidance excluding the impact of Hi-Tech acquisition-related costs on GAAP net income. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $315 million, net income of $62 million and EPS of $0.55 for fiscal 2013.  Full Article

Akorn Inc To Acquire Hi-Tech Pharmacal Co., Inc. For $640 Million
Tuesday, 27 Aug 2013 07:00am EDT 

Akorn Inc and Hi-Tech Pharmacal Co., Inc. announced that they have entered into a definitive agreement under which Akorn will acquire Hi-Tech for $640 million in cash. Under the terms of the agreement, Akorn will pay $640 million in cash, or $43.50 per share. Under the terms of the agreement, Akorn will acquire Hi-Tech for $640 million, or $43.50 per share. Akorn intends to fund the transaction through a combination of Hi-Tech cash assumed and approximately $600 million in term loan borrowings. As of the fiscal year-ended April 30, 2013, Hi-Tech had $100.6 million in cash and cash equivalents. Fully committed financing for the transaction has been provided by JPMorgan Chase Bank, N.A.  Full Article

Akorn Inc Reaffirms FY 2013 Guidance
Tuesday, 6 Aug 2013 07:00am EDT 

Akorn Inc announced reaffirmed fiscal 2013 guidance and expects total revenues to be $305-$315 million, GAAP net income to be $47-$50 million, GAAP net income per diluted share to be $0.42-$0.44 per share, adjusted net income to be $60-$62 million and adjusted net income per diluted share (EPS) to be $0.53-$0.55 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $315 million, net income of $62 million and EPS of $0.55 for fiscal 2013.  Full Article

Akorn Inc Lowers FY 2013 Guidance
Tuesday, 7 May 2013 06:00am EDT 

Akorn Inc announced that for fiscal 2013, it expects total revenues to be $305-315 million, GAAP net income to be $47-50 million, GAAP net income per diluted share to be $0.42-$0.44 per share, adjusted net income to be $60-$62 million and adjusted net income per diluted share (EPS) to be $0.53-$0.55 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $333 million, net income of $67 million and EPS of $0.61 for fiscal 2013.  Full Article

Akorn Inc Issues FY 2013 Guidance; Earnings Guidance Below Analysts' Estimates
Thursday, 17 Jan 2013 02:30pm EST 

Akorn Inc announced that for fiscal 2013, it expects total revenues to be $325-335 million, GAAP net income to be $53-57 million, GAAP net income per diluted share to be $0.46-$0.50 per share, adjusted net income to be $65-$69 million and adjusted net income per diluted share to be $0.57-$0.61 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $331 million, net income of $72 million and EPS of $0.66 for fiscal 2013.  Full Article

Deals of the day- Mergers and acquisitions

(Updates EMC; Adds Akorn, Comcast, Grupos Salinas, Lucchini, Dentsu Aegis, Slovenske Elektrarne, Enel, BauMax, Verizon, Wind, BSkyB, Allergan, Hapag-Lloyd, Douglas, Eastman Chemical and Vodafone)

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