Key Developments: Akorn Inc (AKRX.OQ)

AKRX.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

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

Akorn Inc Sees FY 2012 Revenue At Mid Level Of Prior Range; Reaffirms FY 2012 EPS Guidance; Comments On Q4 2012 Revenue Guidance
Tuesday, 6 Nov 2012 06:00am EST 

Akorn Inc announced that as a result of the storm, it expects to lose approximately two weeks of production. Consequently, the Company anticipates fiscal 2012 revenues will be in the mid-range of previously issued guidance of $248 to $258 million. The Company expects to lose two weeks of production from its Somerset, New Jersey ophthalmic plant as a result of Hurricane Sandy, which will impact both revenue and gross profit as a result of lost sales and lost manufacturing overhead absorption. As a result, the Company expects fourth quarter 2012 revenue, as a best case scenario, to be flat to third quarter. Factoring in the combined impact of Hurricane Sandy and increased fourth quarter R&D expense, the Company estimates fiscal 2012 non-GAAP adjusted net income per share consistent with its previously issued guidance of $0.50 to $0.52. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $258 million, EPS of $0.53 for fiscal 2012; revenue of $75 million for the fourth quarter of 2012.  Full Article

Akorn Inc Raises FY 2012 Guidance
Tuesday, 7 Aug 2012 07:00am EDT 

Akorn Inc announced that its 2012 outlook has been updated to include the impact of vancomycin hydrochloride capsules, but excludes any new approvals after August 7, 2012. For fiscal 2012, the Company expects total revenues of $248-258 million, adjusted net income of $55-57 million, adjusted net income per diluted share of $0.50-0.52 and adjusted EBITDA of $97-100 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $251 million, net income of $57 million and EBITDA of $95 million for fiscal 2012.  Full Article

Akorn Inc Reaffirms FY 2012 Outlook
Tuesday, 8 May 2012 06:00am EDT 

Akorn, Inc. affirmed its previously issued fiscal 2012 outlook, with the exception of capital spending which has been updated to include the needs of Akorn India Private Limited. This revised outlook excludes the impact of vancomycin hydrochloride capsules and any new approvals after May 8, 2012. For fiscal 2012, the Company expects total revenues of $228-238 million, GAAP net income of $36-39 million, GAAP net income per diluted share of $0.33-0.36, Adjusted net income of $48-51 million, Adjusted net income per diluted share (EPS) of $0.44-0.46 and Adjusted EBITDA of $88-93 million.  Full Article

Akorn Inc Announces Approval And Launch of Generic Vancocin
Tuesday, 10 Apr 2012 06:00am EDT 

Akorn Inc announced that it has launched Vancomycin Hydrochloride USP 125mg and 250mg capsules, the generic version of ViroPharma’s Vancocin, which is indicated for the treatment of Clostridium difficile-associated diarrhea (CDAD). Vancocin is also used for the treatment of enterocolitis caused by Staphylococcus aureus including methicillin-resistant strains. Akorn has begun shipping its U.S. Food and Drug Administration (FDA) approved generic version in both strengths in a 20 capsule pack size.  Full Article

Akorn, Inc. Raises FY 2012 Guidance
Tuesday, 6 Mar 2012 07:00am EST 

Akorn, Inc. announced that its fiscal 2012 outlook has been updated to include the impact of the acquisition of certain assets of Kilitch Drugs (India) Limited. This revised outlook excludes the impact of any new approvals after March 6, 2012, as well as the impact of the Kilitch transaction on 2012 capital expenditures. For fiscal 2012, the Company expects total revenues of $228-238 million, GAAP net income of $36-39 million, GAAP net income per diluted share of $0.33-0.36, Adjusted net income of $48-51 million, Adjusted net income per diluted share (EPS) of $0.44-0.46 and Adjusted EBITDA of $88-93 million.  Full Article

Akorn, Inc. Completes Acquisition Of Certain Assets Of Kilitch Drugs In India
Tuesday, 28 Feb 2012 07:00pm EST 

Akorn, Inc. announced that its wholly owned subsidiary, Akorn India Private Limited (AIPL), has completed and closed the previously announced acquisition of certain assets of Kilitch Drugs India Limited (KDIL), a contract manufacturer of sterile injectables in India, as well as certain assets of NBZ Pharma Limited.  Full Article

Kilitch Drugs India Ltd Announces Completion Of sale Of Business Of Kilitch Drugs (India) Ltd To Akorn Inc's Akorn India Private Limited
Tuesday, 28 Feb 2012 09:26am EST 

Kilitch Drugs India Ltd announced the completion of sale of the Business of Kilitch Drugs (India) Limited to Akorn, Inc through its wholly owned Indian subsidiary, Akorn India Private Limited.  Full Article

Akorn, Inc. Issues FY 2012 Guidance; Revenue Guidance Below Analysts' Estimates
Tuesday, 17 Jan 2012 07:00am EST 

Akorn, Inc. announced that for fiscal 2012, it expects total revenue in the range of $210-220 million, GAAP net income in the range of $34-37 million, GAAP net income per diluted share in the range of $0.31-0.34, adjusted net income in the range of $46-49 million, adjusted net income per diluted share (EPS) in the range of $0.42-0.45 and adjusted EBITDA in the range of $85 million to $90 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $221 million, net income of $49 million, EPS of $0.45 and EBITDA of $87 million for fiscal 2012.  Full Article

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