Akorn to Report Third Quarter 2019 Financial Results and Host Conference Call
October 14 2019 - 1:05PM
Akorn, Inc. (Nasdaq: AKRX), a leading specialty pharmaceutical
company, today announced that it plans to issue a press release
before market open on Thursday, October 31,
2019 outlining its third quarter 2019 financial results.
In addition, the Company has scheduled a conference call
at 10:00 a.m. ET on the same day to discuss its third
quarter 2019 financial and operating results. Hosting the call will
be Douglas Boothe, President and Chief Executive Officer and Duane
Portwood, Chief Financial Officer.
To access the call, please dial (844) 249-9382 in the U.S. and
+1 (270) 823-1530 for international callers. The conference ID is
4344329. To access the live webcast, please go to Akorn’s Investor
Relations website at http://investors.akorn.com.
A webcast replay of the conference call will be available
shortly following the conclusion of the call and will be available
for 90 days. To access the webcast replay, please go to Akorn’s
Investor Relations website at http://investors.akorn.com.
About AkornAkorn, Inc. is a specialty
pharmaceutical company engaged in the development, manufacture and
marketing of multisource and branded
pharmaceuticals. Akorn has manufacturing facilities
located in Decatur, Illinois; Somerset, New
Jersey; Amityville, New York;
Hettlingen, Switzerland and Paonta
Sahib, India that manufacture ophthalmic, injectable and
specialty sterile and non-sterile pharmaceuticals. Additional
information is available on Akorn’s website
at www.akorn.com.
Cautionary Note Regarding Forward-Looking
StatementsThis press release includes statements that may
constitute "forward-looking statements", including expectations and
other statements regarding Akorn's goals and plans. When used in
this document, the words “will,” “expect,” “continue," “scheduled,”
“plans,” “intend,” and similar expressions are generally intended
to identify forward-looking statements. These statements are made
pursuant to the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. A number of important
factors could cause actual results of Akorn and its subsidiaries to
differ materially from those indicated by such forward-looking
statements. These factors include, but are not limited to:
(i) the effect of the Delaware Court of Chancery’s October 1, 2018
decision against Akorn and the Delaware Supreme Court’s December 7,
2018 order affirming the Chancery Court’s decision on Akorn’s
ability to retain and hire key personnel, its ability to maintain
relationships with its customers, suppliers and others with whom it
does business, or its operating results and business generally,
(ii) the risk that ongoing or future litigation against the
defendants or related to the court’s decision may result in
significant costs of defense, indemnification and/or liability,
(iii) the outcome of the investigation conducted by Akorn, with the
assistance of outside consultants, into alleged breaches of FDA
data integrity requirements relating to product development at
Akorn and any actions taken by Akorn, third parties or the FDA as a
result of such investigations, (iv) the difficulty of predicting
the timing or outcome of product development efforts, including FDA
and other regulatory agency approvals and actions, if any, (v) the
timing and success of product launches, (vi) difficulties or delays
in manufacturing, (vii) Akorn’s increased indebtedness and
obligation to comply with certain covenants and other obligations
under its standstill agreement with its first lien term loan
lenders (the “Standstill Agreement”), (viii) Akorn’s obligation
under the Standstill Agreement to enter into a comprehensive
amendment that is satisfactory in form and substance to the first
lien term loan lenders, (ix) the risk that the holders of a
significant number of shares may opt out of and elect not to
participate in or be bound by the Securities Class Action
Settlement Agreement, (x) the risk that the Securities Class Action
Settlement Agreement may not obtain the necessary approval by the
court or may be terminated in accordance with its terms, (xi) the
risk that insurance proceeds, common shares or other consideration
contemplated to be exchanged pursuant to the proposed settlement is
not available at the appropriate time and (xii) such other risks
and uncertainties outlined in the risk factors detailed in Part I,
Item 1A, “Risk Factors,” of Akorn’s Annual Report on Form 10-K for
the fiscal year ended December 31, 2018 (as filed with the
Securities and Exchange Commission (“SEC”) on March 1, 2019) and in
Part II, Item 1A, “Risk Factors,” of Akorn’s Quarterly Reports on
Form 10-Q for the fiscal quarters ended March 31, 2019 (as filed
with the SEC on May 9, 2019) and June 30, 2019 (as filed with the
SEC on August 2, 2019) and other risk factors identified from time
to time in Akorn’s filings with the SEC. Readers should carefully
review these risk factors, and should not place undue reliance on
the forward-looking statements. These forward-looking statements
are based on information, plans and estimates at the date of this
press release. Akorn undertakes no obligation to update any
forward-looking statements to reflect changes in underlying
assumptions or factors, new information, future events or other
changes.
Investors/Media:(847)
279-6162Investor.relations@akorn.com
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