Breaking News

Financial Report: Akorn

By Kristin Brooks | March 3, 2014

Revenues up 19% in the quarter


4Q Revenues: $85.0 million (+19%)

4Q Earnings: $16.7 million (+89%)

FY Revenues: $317.7 million (+24%)

FY Earnings: $52.4 million (+48%)

Comments: In the quarter, the company announced the acquisition of Hi-Tech Pharmacal, expanding its branded ophthalmic portfolio, filed 12 ANDAs and completed the development of an additional 11 ANDAs, and completed the acquisition of the U.S. rights to three branded ophthalmic products from Merck: AzaSite, COSOPT and COSOPT PF. The company’s overall gross profit margin was down 6% due to a significant percentage of Akorn’s revenue growth coming from products that were contract manufactured, some of which include profit sharing arrangements with development partners.

blog comments powered by Disqus
  • Newsmakers: PCI

    Newsmakers: PCI

    Tim Wright, Editor||June 2, 2015
    PCI execs talk about the recent opening of the company’s new North American clinical facility, as well as other trends in the market

  • How Sterilization of Primary Packaging Influences the Results of E&L Studies

    How Sterilization of Primary Packaging Influences the Results of E&L Studies

    Thorsten Sogding, Daniel Canton, Daniel Haines, Uwe Rothhaar, SCHOTT Pharma Services ||June 2, 2015
    As the demands that are being placed on the quality and stability of medications continue to increase, the interactions that take place between the primary packaging container and filled drug product are becoming increasingly important

  • Moore’s Law for More Health

    Moore’s Law for More Health

    Patrick Jordan , Encore Health Resources||June 2, 2015
    This year marks the semicentennial anniversary of a prediction about exponential growth and productivity