Akorn's sales uncertain thanks to weak performance and Fresenius' investigation.
Fresenius’ announcement that it is performing an independent investigation into potential FDA data integrity requirements at Akorn creates some uncertainty this deal will close. Through a press release, Akorn claims the investigation has not turned up any issues and expects the transaction to proceed. Meanwhile, Fresenius still appreciates the strategic rationale of buying Akorn, but management stated that material issues raised in the investigation could be grounds for withdrawing from the cont...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. The company'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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