Last $36.27 USD
Change Today -0.09 / -0.25%
Volume 974.5K
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As of 4:00 PM 09/30/14 All times are local (Market data is delayed by at least 15 minutes).

akorn inc (AKRX) Snapshot

Open
$36.37
Previous Close
$36.36
Day High
$37.23
Day Low
$36.26
52 Week High
08/26/14 - $39.48
52 Week Low
09/30/13 - $18.77
Market Cap
3.8B
Average Volume 10 Days
1.0M
EPS TTM
$0.48
Shares Outstanding
104.1M
EX-Date
08/29/91
P/E TM
76.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for AKORN INC (AKRX)

akorn inc (AKRX) Related Businessweek News

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akorn inc (AKRX) Details

Akorn, Inc. manufactures and markets diagnostic and therapeutic ophthalmic pharmaceuticals, niche hospital drugs, and injectable pharmaceuticals in the United States and internationally. It offers products in various areas, including ophthalmology, antidotes, anti-infectives, pain management, anesthesia, vaccines, and others. The company operates in three segments: Ophthalmic, Hospital Drugs & Injectables, and Contract Services. The Ophthalmic segment markets diagnostic products, such as mydriatics and cycloplegics, anesthetics, topical stains, gonioscopic solutions, angiography dyes, and others for use in the office setting; therapeutic products, including antibiotics, steroids, steroid combinations, glaucoma medications, decongestants/antihistamines, and anti-edema medications to wholesalers, chain drug stores, and other national account customers; non-pharmaceutical products comprising artificial tear solutions, preservative-free lubricating ointments, and eyelid cleansers; and over-the-counter dry eye and other eye health products under the TheraTears name through chain drug stores and big box retailers, as well as directly to optometrists, ophthalmologists, and other eye care practitioners and clinics. This segment offers ophthalmic products, such as AzaSite, an azithromycin ophthalmic solution; Cosopt, a dorzolamide hydrochloride and timolol maleate ophthalmic solution; and Cosopt PF, a preservative-free prescription version of Cosopt. The Hospital Drugs & Injectables segment provides hospital drug and injectable pharmaceutical products comprising antidotes, anti-infectives, controlled substances for pain management and anesthesia, and other pharmaceutical products to hospitals through the wholesale distribution channel. The Contract Services segment manufactures various pharmaceutical products for third party pharmaceutical customers based on their specifications. The company was founded in 1971 and is headquartered in Lake Forest, Illinois.

1,099 Employees
Last Reported Date: 03/14/14
Founded in 1971

akorn inc (AKRX) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: $250.0K
Chief Financial Officer and Principal Account...
Total Annual Compensation: $309.0K
Chief Operating Officer
Total Annual Compensation: $313.7K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $286.3K
Senior Vice President of National Accounts an...
Total Annual Compensation: $280.2K
Compensation as of Fiscal Year 2013.

akorn inc (AKRX) Key Developments

Federal Trade Commission Approves Final Order Preserving Future Competition in Generic Injectable Tuberculosis Drug Market

Federal Trade Commission has approved a final order settling charges that Akorn, Inc.'s acquisition of VersaPharm Inc. and its parent company, VPI Holdings Corp., would have likely been anticompetitive. Under the order, first announced in August 2014, Akorn is required to divest its Abbreviated New Drug Application for generic injectable rifampin - which is currently pending before the Food and Drug Administration - to Watson Laboratories, Inc. According to the FTC's complaint, only VersaPharm and two other firms currently have FDA approval to sell generic injectable rifampin. There are no viable substitutes for rifampin as a course of treatment for tuberculosis. The FTC alleged that if Akorn had consummated its acquisition of VersaPharm as originally proposed, the combined company would have been likely to delay or cancel the introduction of Akorn's generic injectable rifampin.

Akorn, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Raises Earnings Guidance for the Full Year of 2014

Akorn, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, revenues were $150,749,000 against $77,012,000 a year ago. Operating income was $16,263,000 against $22,251,000 a year ago. Income before income taxes was $14,312,000 against $19,982,000 a year ago. Income from continuing operations was $9,009,000 $0.08 per diluted share against $12,637,000 $0.11 per diluted share a year ago. Net income was $8,506,000 $0.07 per diluted share against $12,637,000 $0.11 per diluted share a year ago. Net cash used in operating activities was $3,640,000 against net cash provided by operating activities of $14,476,000 a year ago. Purchases of property, plant and equipment was $6,731,000 against $2,470,000 a year ago. EBITDA was $34,419,000 against $25,372,000 a year ago. Adjusted EBITDA was $55,252,000 against $26,821,000 a year ago. Adjusted income before income taxes was $45,158,000 against $24,145,000 a year ago. Adjusted net income was $29,333,000 against $15,300,000 a year ago. Adjusted net income per diluted share was $0.25 against $0.14 a year ago. For the six months, revenues were $241,371,000 against $150,866,000 a year ago. Operating income was $39,703,000 against $40,840,000 a year ago. Income before income taxes was $30,004,000 against $36,239,000 a year ago. Income from continuing operations was $18,837,000 $0.16 per diluted share against $23,479,000 $0.21 per diluted share a year ago. Net income was $18,334,000 $0.16 per diluted share against $23,479,000 $0.21 per diluted share a year ago. Net cash provided by operating activities of $19,736,000 against $21,398,000 a year ago. Purchases of property, plant and equipment was $11,929,000 against $5,159,000 a year ago. EBITDA was $58,947,000 against $47,122,000 a year ago. Adjusted EBITDA was $87,091,000 against $51,318,000 a year ago. Adjusted income before income taxes was $74,167,000 against $46,108,000 a year ago. Adjusted net income was $47,719,000 against $29,766,000 a year ago. Adjusted net income per diluted share was $0.41 against $0.27 a year ago. For the full year of 2014, the company expects to report GAAP net income of $63 million to $69 million, EBITDA of $181 million to $190 million and adjusted EBITDA of $230 million to $240 million. The company expects total revenues of $580 million to $600 million, total gross margin percentage of 56% to 57%, GAAP net income per diluted share of $0.53 to $0.58, capital expenditures of $35 million to $40 million, intangible asset amortization expense of $32 million and income tax rate of 37%. Adjusted net income is guided at of $118 million to $125 million, or $1.00 to $1.05 per diluted share, up from previous guidance of $94 million to $97 million, or $0.79 to $0.82 per diluted share.

Akorn, Inc. Presents at Morningstar Management Behind the Moat Conference, Sep-18-2014 02:40 PM

Akorn, Inc. Presents at Morningstar Management Behind the Moat Conference, Sep-18-2014 02:40 PM. Venue: Global Headquarters, Chicago, Illinois, United States. Speakers: Timothy A. Dick, Chief Financial Officer and Principal Accounting Officer.

 

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Industry Analysis

AKRX

Industry Average

Valuation AKRX Industry Range
Price/Earnings 88.9x
Price/Sales 9.2x
Price/Book 12.9x
Price/Cash Flow 58.6x
TEV/Sales 7.3x
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