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Akorn, Inc. (AMEX:AKN) today announced that it has received U.S. IND clearance to initiate the pivotal, clinical trial for AK-1015 in 200 patients. AK-1015, an ophthalmic new drug application (NDA) will pursue an indication for ocular anesthesia. The clinical trial will begin in August 2006. Akorn has signed an agreement with a CRO firm for the deployment of the protocol and monitoring of the clinical trial. Akorn intends to file the NDA in 2007 with a potential product launch in 2008. The AK-1015 formulation was developed internally at the Somerset, NJ facility. Akorn already has a targeted sales force to optimize and create market penetration. The U.S. market for this drug is approximately 5 million ophthalmic procedures per year. Akorn recently filed a U.S. patent for AK-1015 with supporting claims. Arthur S. Przybyl, Akorn's President and Chief Executive Officer stated, "AK-1015 is our first internally developed NDA drug supported through an IND with clinical trials to help build our ophthalmic specialty pharmaceutical product line. The four arm clinical trial in 200 patients is intended to support the NDA filing for the indication of ocular anesthesia." 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. Materials in this press release may contain information that includes or is based upon forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Forward-looking statements give our expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with a discussion of future operating or financial performance. In particular, these include statements relating to future steps we may take, prospective products, future performance or results of current and anticipated products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, and financial results. Any or all of our forward-looking statements here or in other publications may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining our actual future results. Consequently, no forward-looking statement can be guaranteed. Our actual results may vary materially, and there are not guarantees about the performance of our stock. Any forward-looking statements represent our expectations or forecasts only as of the date they were made and should not be relied upon as representing our expectations or forecasts as of any subsequent date. We undertake no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise, even if our expectations or forecasts change. You are advised, however, to consult any further disclosures we make on related subjects in our reports filed with the SEC. In particular, you should read the discussion in the section entitled "Cautionary Statement Regarding Forward-Looking Statements" in our most recent Annual Report on Form 10-K, as it may be updated in subsequent reports filed with the SEC. That discussion covers certain risks, uncertainties and possibly inaccurate assumptions that could cause our actual results to differ materially from expected and historical results. Other factors besides those listed there could also adversely affect our results.