BUFFALO GROVE, Ill. - (Business Wire) Akorn, Inc. (NASDAQ: AKRX) a specialty pharmaceutical company and Bioniche Pharma have entered into a five-year commercial manufacturing and supply agreement for two undisclosed pharmaceutical products.
Under the terms of the five-year agreement, Akorn will be responsible for the manufacturing and supply of the two injectable products. Expected launch for both products is anticipated in the second half of 2008.
Arthur S. Przybyl, Akorn’s President and Chief Executive Officer stated, “We are very pleased to have been selected as the contract manufacturer for these important hospital injectable products. We continue to seek contract pharmaceutical manufacturing opportunities in hospital injectables, ophthalmics and lyophilized products in order to expand this business.”
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 Bioniche Pharma
Bioniche Pharma is a global manufacturer of injectable pharmaceutical products serving a variety of niche markets, with expertise in injectable hyaluronic acid products for use in orthopedics, rheumatology, urology and dermatology. The company’s growth is fueled by an internal development pipeline and an aggressive acquisition strategy for products. Bioniche Pharma was acquired in February 2006 by Roundtable Healthcare Partners, a private equity firm based in Lake Forest Illinois. More information about Bioniche Pharma can be found at www.bionichepharma.com.
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Akorn, Inc.
Arthur S. Przybyl
President and CEO
(847) 279-6100
