Le Lézard
Classified in: Health

Akorn Announces Review of Strategic Alternatives for the Akorn Consumer Health Business

LAKE FOREST, Ill., Feb. 26, 2021 /PRNewswire/ -- Akorn Operating Company LLC (Akorn), a leading specialty pharmaceutical company, announced that it is commencing a review of strategic alternatives for its Consumer Health business.  This strategic review is a reflection of management's continued focus on its prescription generic and branded drug portfolio.

The Consumer Health business primarily consists of the following brands:  TheraTears®Diabetic Tussin®Mag-Ox®Multi-betic®, and Zostrix®.

"Driving and optimizing our prescription drug portfolio continues to be a top strategic priority for Akorn, and exploring strategic alternatives for our Consumer Health brands is the natural next step in that process," said Douglas Boothe, Akorn's President and Chief Executive Officer.  "Divesting these brands would leave Akorn with a simplified portfolio of prescription generic and branded drugs, while providing financial flexibility to fuel further strategic initiatives and enhance enterprise value."

Boothe continued, "The Consumer Health brands represent a compelling business, marked by a strong and consistent financial profile and valuable customer relationships.  Our teams have done an excellent job building this business over the years, putting us in an ideal position to find the best future owner for these brands."

Akorn has retained William Blair & Company and Willkie Farr & Gallagher LLP to assist in the evaluation of strategic alternatives for its Consumer Health business. 

About Akorn

Akorn develops, manufactures and markets specialty pharmaceuticals, including prescription, consumer health and animal health products. As an industry leader in branded and generic products in alternate dosage forms such as ophthalmics, injectables, oral liquids, otics, topicals, inhalants and nasal sprays, we focus each day on our mission to improve lives, through the quality, availability and affordability of our products. Additional information is available on Akorn's website at www.akorn.com.

Cautionary Note Regarding Forward-Looking Statements

This press release includes statements that may constitute "forward-looking statements," including those regarding Akorn's review of strategic alternatives for its Consumer Health business. There is no assurance that the strategic review process will result in a transaction.  A number of important factors could cause actual results of Akorn and its subsidiaries to differ materially from those indicated by such forward-looking statements and readers should not place undue reliance on the forward-looking statements. These forward-looking statements are based on information, plans and estimates at the date of this release. Akorn undertakes no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.

SOURCE Akorn Operating Company LLC (Akorn)

These press releases may also interest you

at 09:52
Introducing Womaness, a collection of modern, effective menopause products created by women, for women that offer solutions from head to toe (and everything in between). The Womaness line includes 13 products, all under $40, across the skin and body...

at 09:50
Baxter International Inc. , a leading global medical products company, announced today that it has been recognized by the Global Inclusion Index in 11 countries for its inclusion efforts. Baxter Brazil, China, France, Germany, India, Ireland, Italy,...

at 09:49
This Earth Day, wellness leader HUM Nutrition will be the first supplement brand to transition their bottle packaging to 100% ocean bound plastic in partnership with Prevented Ocean Plastictm. This sustainability initiative, Wellness for You and the...

at 09:47
A NEW GENERATION of smart lampposts that can read body temperatures and detect overcrowding could stop the spread of Covid-19 and regenerate cities, according to a new report. These 21st century lamp columns go beyond street lighting by incorporating...

at 09:38
CAQH today announced the launch of the CAQH Endpoint Directory, a centralized repository of validated payer FHIR endpoints and third-party applications. Developed with support from the technology company Edifecs, the Directory will help payers meet...

at 09:34
Unifor is demanding pandemic pay and priority vaccine access for workers at grocery stores and warehouses, as COVID-19 case numbers skyrocket and cases of the more contagious variants of concern increase....

News published on 26 february 2021 at 16:49 and distributed by: