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August 31, 2006
BUFFALO GROVE, Ill.--(BUSINESS WIRE)
Akorn, Inc. (AMEX:AKN- News) today announced that it has
signed a Commercial Manufacturing Supply Agreement with
GeneraMedix Inc., a privately held pharmaceutical company
that develops, markets and sells generic injectable pharmaceutical
products. Under the terms of the Agreement, Akorn will
manufacture injectable products in finished dosage form
for GeneraMedix, who will market these products in the
GeneraMedix label. The Agreement includes products currently
available from Akorn, as well as select injectable products
from the Akorn internal product development pipeline.
Arthur S. Przybyl, President and Chief Executive Officer
of Akorn stated, "We are excited to enter into this
strategic product supply partnership with GeneraMedix.
This partnership will allow us to expand our existing market
share and increase our contract sales revenues. We believe
that GeneraMedix and their executive management team have
the experience and infrastructure to successfully market
these generic products to the hospital and specialty pharmaceutical
markets. We look forward to a long-standing and successful
relationship with GeneraMedix."
Ronald F. Quadrel, President and Chief Executive Officer
of GeneraMedix stated, "We are very pleased to enter
into this strategic relationship with Akorn as we continue
to build our injectable product portfolio. The addition
of these products reinforces our long term commitment to
provide a broad range of generic injectable products to
hospitals, surgery centers and clinics."
About Akorn, Inc.
Akorn, Inc. manufactures and markets sterile specialty
pharmaceuticals. Akorn has manufacturing facilities located
in Decatur, Illinois and Somerset, New Jersey and markets
and distributes an extensive line of hospital and ophthalmic
pharmaceuticals. Additional information is available at
the Company's website at www.akorn.com.
About GeneraMedix Inc.
GeneraMedix Inc. is a pharmaceutical company offering
high quality injectable generic products to the hospital
and specialty markets. In addition to its products already
marketed, GeneraMedix has a significant number of injectable
products under development, as well as a number of products
currently under FDA review. Headquartered in Liberty Corner,
New Jersey, the company was founded in July of 2004. Additional
information is available at the company's website at www.generamedix.com.
Materials in this press release may contain information
that includes or is based upon forward-looking statements
within the meaning of the Securities Litigation Reform
Act of 1995. Forward-looking statements give our expectations
or forecasts of future events. You can identify these statements
by the fact that they do not relate strictly to historical
or current facts. They use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and
other words and terms of similar meaning in connection
with a discussion of future operating or financial performance.
In particular, these include statements relating to future
steps we may take, prospective products, future performance
or results of current and anticipated products, sales efforts,
expenses, the outcome of contingencies such as legal proceedings,
and financial results.
Any or all of our forward-looking statements here or in
other publications may turn out to be wrong. They can be
affected by inaccurate assumptions or by known or unknown
risks and uncertainties. Many such factors will be important
in determining our actual future results. Consequently,
no forward-looking statement can be guaranteed. Our actual
results may vary materially, and there are not guarantees
about the performance of our stock.
Any forward-looking statements represent our expectations
or forecasts only as of the date they were made and should
not be relied upon as representing our expectations or
forecasts as of any subsequent date. We undertake no obligation
to correct or update any forward-looking statements, whether
as a result of new information, future events or otherwise,
even if our expectations or forecasts change. You are advised,
however, to consult any further disclosures we make on
related subjects in our reports filed with the SEC. In
particular, you should read the discussion in the section
entitled "Cautionary Statement Regarding Forward-Looking
Statements" in our most recent Annual Report on Form
10-K, as it may be updated in subsequent reports filed
with the SEC. That discussion covers certain risks, uncertainties
and possibly inaccurate assumptions that could cause our
actual results to differ materially from expected and historical
results. Such factors include, but are not limited to,
risks and uncertainties relating to the resolution of the
FDA compliance issues at our Decatur, Illinois manufacturing
facility. Other factors besides those listed there could
also adversely affect our results.
Contact:
Akorn, Inc.
Arthur S. Przybyl, 847-279-6100
or
GeneraMedix Inc.
Ronald F. Quadrel, 908-504-1301
Source: Akorn, Inc.
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