Akorn, Inc. (NASDAQ:AKRX) was established in 1971 in Lake Forest, Illinois (also the company’s headquarters), and has 2,284 full-time employees. It is a multinational generic drug company.
Akorn, Inc. (AKRX):
Akorn Pharmaceuticals develops, produces and sells generic branded prescription drugs, as well as animal and OTC consumer health products in the United States and internationally. Akorn produces and sells diagnostic and therapeutic drugs in specialized fields, such as ophthalmology, rheumatism, anesthetics and antidotes, etc.
Akorn has two divisions: the prescription drug division and the consumer health division.
In the subdivision field, the prescription drug department mainly researches brand-name ophthalmic drugs, injections, oral liquids, otics, inhalants, nasal sprays, etc. main products:
- Clobetasol Propionate-corticosteroid, used to treat various skin diseases
- Fluticasone propionate-corticosteroid for the treatment of allergic and non-allergic rhinitis
- F lidocaine/prilocaine-for local anesthesia
- Progesterone-used to prevent endometrial hyperplasia
- Vancomycin-an antibiotic used to treat bacterial infections
In the market segment, the consumer health department mainly researches and sells animal health products and OTC drugs TheraTears (used to treat dry eye). main products:
- Akten-local anesthesia gel for eyes
- AzaSite-antibiotics for the treatment of bacterial conjunctivitis
- Cosopt, Cosopt PF, Betimol and Zioptan-for the treatment of glaucoma
- Xopenex inhalation solution-used to treat or prevent bronchospasm
- Mag-Ox (OTC)-Supplement magnesium for diabetics
- Zostrix brand capsaicin-for pain relief
- Animal health brand products and generic products, including: Analysed, Tolazine, Yobine, Butorphic and VetaKet.
Akorn, Inc. (AKRX) History:
- John Kapoor is not a founder, but a major shareholder since the 1990s.
- Akorn acquired competitor Hi-Tech Pharmacal in 2013.
- In June 2015, a hacker tried to sell an Akorn customer database with more than 50,000 records. Akorn commented: “Although most of the information obtained is public, we are notifying our valued customers of this incident”.
- In April 2017, Akorn agreed to be acquired by Fresenius for $4.3 billion. After Akorn could not meet the basic requirements of the acquisition, Fresenius gave up the plan.
- In October 2018, the Food and Drug Administration (FDA) approved Akorn’s Bimatoprost Ophthalmic Solution, a 0.03% new drug application.