Akorn, Inc. and GeneraMedix Inc. Sign Commercial Manufacturing Supply Agreement
31 Agosto 2006 - 8:00AM
Business Wire
Akorn, Inc. (AMEX:AKN) today announced that it has signed a
Commercial Manufacturing Supply Agreement with GeneraMedix Inc., a
privately held pharmaceutical company that develops, markets and
sells generic injectable pharmaceutical products. Under the terms
of the Agreement, Akorn will manufacture injectable products in
finished dosage form for GeneraMedix, who will market these
products in the GeneraMedix label. The Agreement includes products
currently available from Akorn, as well as select injectable
products from the Akorn internal product development pipeline.
Arthur S. Przybyl, President and Chief Executive Officer of Akorn
stated, "We are excited to enter into this strategic product supply
partnership with GeneraMedix. This partnership will allow us to
expand our existing market share and increase our contract sales
revenues. We believe that GeneraMedix and their executive
management team have the experience and infrastructure to
successfully market these generic products to the hospital and
specialty pharmaceutical markets. We look forward to a
long-standing and successful relationship with GeneraMedix." Ronald
F. Quadrel, President and Chief Executive Officer of GeneraMedix
stated, "We are very pleased to enter into this strategic
relationship with Akorn as we continue to build our injectable
product portfolio. The addition of these products reinforces our
long term commitment to provide a broad range of generic injectable
products to hospitals, surgery centers and clinics." 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. About GeneraMedix, Inc.
GeneraMedix, Inc. is a pharmaceutical company offering high quality
injectable generic products to the hospital and specialty markets.
In addition to its products already marketed, GeneraMedix has a
significant number of injectable products under development, as
well as a number of products currently under FDA review.
Headquartered in Liberty Corner, New Jersey, the company was
founded in July of 2004. Additional information is available at the
company's website at www.generamedix.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. Such
factors include, but are not limited to, risks and uncertainties
relating to the resolution of the FDA compliance issues at our
Decatur, Illinois manufacturing facility. Other factors besides
those listed there could also adversely affect our results.
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