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Slide #62. Akorn, Inc. — Three Branded Ophthalmic Products from Merck
Akorn, Inc. (AKRX)
Three Branded Ophthalmic Products from Merck
Akorn, Inc. (NASDAQ:AKRX), a niche generic pharmaceutical company, today announced that it has acquired from Merck (NYSE:MRK), 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.
Akorn is a generic pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals, branded as well as private-label over-the-counter consumer health products and animal health pharmaceuticals. Co.'s segments include: Prescription Pharmaceuticals, which primarily consists of generic and branded prescription pharmaceuticals in a variety of dosage forms including sterile ophthalmics, injectables and inhalants and non-sterile oral liquids, topicals, nasal sprays and otics; and Consumer Health, which primarily consists of branded and private-label over-the-counter products and animal health products dispensed by veterinary personnel.
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Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
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