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Slideshow Mergers & Acquisitions

By The Online Investor Staff, updated Tue., Sep. 30, 7:55 PM

Slide #3. Akorn Xopenex

Acquirer: Akorn (NASDAQ:AKRX)
Acquiree: Xopenex
Details: Akorn, Inc. (Nasdaq:AKRX), a niche pharmaceutical company, today announced that it has signed a definitive agreement ("Agreement") to acquire certain rights to short-acting bronchodilator Xopenex (levalbuterol HCI) Inhalation Solution (IS) from Sunovion Pharmaceuticals Inc. for $45 million, paid in cash at closing, net of certain liabilities. According to IMS Health, the U.S. market for both the generic and branded versions of Xopenex IS was approximately $280 million for the twelve-month period ending August 2014.

Akorn manufactures and markets a line of diagnostic and therapeutic ophthalmic pharmaceuticals as well as hospital drugs and injectable pharmaceuticals. In addition, Co. manufactures and markets over-the-counter ophthalmic products for the treatment of dry eye under the TheraTears® brand name, as well as private label over-the-counter ophthalmic products. Co. provides diagnostic and therapeutic pharmaceutical products in various areas, including ophthalmology, antidotes, anti-infectives, vaccines, and controlled substances for pain management and anesthesia. Co.'s customers include physicians, optometrists, hospitals, wholesalers, group purchasing organizations, and retail pharmacy chains.

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Company Name:  Akorn Inc
Website:  www.akorn.com
Sector:  Drugs & Pharmaceuticals
Number of ETFs Holding AKRX:  43
Total Market Value Held by ETFs:  $298.03M
Total Market Capitalization:  $3.72B
% of Market Cap. Held by ETFs:  8.02%
 

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September 30, 2014    7:55 PM Eastern
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Strong Buy (3.57 out of 4)
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