Akorn Comments on Fresenius’ Proposed Amended Claims
February 20 2019 - 05:25PM
Akorn, Inc. (Nasdaq: AKRX) today announced that it strongly
contests Fresenius’ proposed amended claims filed earlier today.
Akorn believes these claims are meritless and overreaching. Akorn
denies the allegations and will vigorously defend itself in this
litigation, while continuing to focus on advancing its pipeline,
strengthening its business and developing a strategic plan for
improving financial performance and long-term shareholder value.
Cautionary Statement Regarding Forward-Looking
StatementsThis press release includes statements that may
constitute "forward looking statements", including expectations
regarding Akorn's plans and strategy. When used in this document,
the words “will,” “expect,” “continue," “believe,” “estimate,”
“intend,” “could,” 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’s recent decision against Akorn 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 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, and (vii) 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, 2017 (as filed with the Securities and Exchange
Commission (“SEC”) on February 28, 2018) and in Part II, Item 1A,
“Risk Factors,” of Akorn’s Quarterly Reports on Form 10-Q for the
periods ended March 31, June 30, and September 2018 (as filed with
the SEC on May 2, August 1, and November 6, 2018), and other risk
factors identified from time to time in our filings with the SEC.
Readers should carefully review these risk factors, and should not
place undue reliance on our forward-looking statements. These
forward-looking statements are based on information, plans and
estimates at the date of this report. 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.
About AkornAkorn, Inc. is a specialty generic
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.
Investors:(847)
279-6162Investor.relations@akorn.com
Media:Colleen Nawn(212)
850-5673Colleen.Nawn@fticonsulting.com
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