Akorn, Inc. and Strides Arcolab Ltd. have agreed to fund, develop, and commercialize an additional 10 ANDA injectable drug products for their Akorn-Strides, LLC Joint Venture. The two companies created the JV in 2005 and have since submitted 15 ANDAs. Before the end of the year, the JV expects to submit two more ANDAs. Akorn-Strides is developing liquid, lyophilized and dry powder fill generic injectable products targeting several therapeutic markets with a major focus on anti-infectives, analgesics and CNS medicines.

The additional funding for the Joint Venture will expand Akorn-Strides to 29 ANDAs for a total of 53 SKUs, or product line offerings. The JV expects to generate revenues in 2007 based on initial product approvals and subsequent product launches.

Arthur S. Przybyl, president and chief executive officer of Akorn and member manager of Akorn-Strides, LLC stated, “We are pleased with the progress of the Joint Venture since its inception. Strides Arcolab has demonstrated on-time execution in developing ANDA injectable drug products. Akorn has been filing regulatory submissions for the JV at a rate of approximately two per month. It stands to reason that expanding the product portfolio will only help to generate greater revenues and market presence.”