Akorn, Inc. is a niche pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals as well as animal and consumer health products. It specializes in difficult-to-manufacture sterile and non-sterile dosage forms including: ophthalmics, injectables, oral liquids, otics, topicals, inhalants, and nasal sprays. Akorn markets its products to retail pharmacies, ophthalmologists, optometrists, physicians, veterinarians, hospitals, clinics, wholesalers, distributors, group purchasing organizations, and government agencies.
Akorn was acquired by Fresenius Kabi AG on April 24, 2017.

Type
Public
Parent Company
Fresenius Kabi
HQ
Lake Forest, US
Founded
1948
Size (employees)
2,261 (est)
Website
akorn.com
Akorn was founded in 1948 and is headquartered in Lake Forest, US
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Akorn Office Locations

Akorn has offices in Brooklyn, Queens, Houston, Jersey and in 3 other locations
Lake Forest, US (HQ)
300 1925 W Field Ct
Ann Arbor, US
2929 Plymouth Rd
Gurugram, IN
DLF Building Number 9B
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Akorn Financials and Metrics

Akorn Financials

Akorn's revenue was reported to be $841.05 m in FY, 2017
USD

Revenue (Q1, 2018)

184.1 m

Gross profit (Q1, 2018)

82.2 m

Gross profit margin (Q1, 2018), %

44.7%

Net income (Q1, 2018)

(28.7 m)

EBIT (Q1, 2018)

(25.4 m)

Market capitalization (22-Jun-2018)

2 b

Closing share price (22-Jun-2018)

16

Cash (31-Mar-2018)

309.4 m

EV

2.5 b
Akorn's current market capitalization is $2 b.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

317.7 m593.1 m985.1 m1.1 b841 m

Revenue growth, %

87%66%13%

Cost of goods sold

145.8 m295.5 m105.5 m442.6 m407.9 m

Gross profit

171.9 m297.6 m879.5 m674.3 m433.1 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Revenue

81.9 m90.6 m150.7 m132.7 m227.4 m220.9 m256.8 m268.3 m280.7 m284.1 m253.4 m199.1 m202.4 m184.1 m

Cost of goods sold

38.2 m41 m74.1 m81 m97.2 m92.5 m93.8 m105.3 m109 m113.9 m104.3 m96.2 m104.5 m101.8 m

Gross profit

43.7 m49.7 m76.7 m51.7 m130.2 m128.4 m163 m163 m171.8 m170.2 m149.1 m103 m98 m82.2 m

Gross profit Margin, %

53%55%51%39%57%58%63%61%61%60%59%52%48%45%
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

34.2 m70.7 m346.3 m200.8 m368.1 m

Accounts Receivable

283.2 m141.4 m

Inventories

5.8 m30.9 m20 m174.8 m183.6 m

Current Assets

168.9 m494.3 m751.2 m685.8 m730.2 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Cash

75.6 m45.6 m107.9 m131.5 m123.5 m257.1 m314.5 m141 m156.3 m174.1 m307.4 m322.7 m345.4 m309.4 m

Accounts Receivable

61.5 m65.5 m140 m145.2 m190.7 m130.8 m138.9 m172.2 m205 m263 m233.7 m177.6 m188.8 m177.1 m

Inventories

56.7 m62 m108.9 m132.8 m149.4 m156.3 m175.9 m190.9 m188 m179.7 m172.3 m181.5 m182.5 m193 m

Current Assets

205.3 m185.7 m397.2 m494.1 m543.9 m607 m698.8 m530 m593.9 m644.2 m736 m703.9 m762.9 m705 m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

52.4 m35.3 m37.5 m184.2 m(24.6 m)

Depreciation and Amortization

7.4 m44.1 m17.1 m65.7 m85.2 m

Inventories

(3.8 m)(13 m)2.9 m(6.5 m)(8.4 m)

Accounts Payable

2 m11 m7.9 m6.1 m(9.2 m)
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Net Income

12.2 m9.8 m8.5 m(11.7 m)37.5 m70 m118 m41.9 m103.9 m151.8 m41 m43.6 m40.7 m(28.7 m)

Depreciation and Amortization

8.6 m14 m21.1 m44.7 m63.8 m22.5 m44.1 m66 m20.9 m42.2 m63.8 m20.3 m

Inventories

(9.3 m)

Accounts Payable

37.8 m36.7 m7.9 m(3.6 m)9.4 m(1.9 m)4.8 m5.7 m(4.3 m)(13.5 m)(1.8 m)11.3 m
USDY, 2018

EV/EBIT

-99 x

EV/CFO

-79.6 x

Financial Leverage

2.3 x
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Akorn News and Updates

UPDATE 1-Fresenius CEO defends cancelled Akorn deal

* Expects legal proceedings to conclude in 2019 (Adds details on expenses, comment on provision, analyst)

Fresenius CEO defends cancelled Akorn deal

FRANKFURT/BERLIN, May 18 (Reuters) - Fresenius SE's chief executive has defended the company's decision to pull out of a planned $4.8 billion takeover of Akorn, saying it was the only option after uncovering data integrity breaches at the U.S drugmaker.

Fresenius sees Akorn lawsuit dragging on into 2019

BERLIN (Reuters) - German healthcare group Fresenius SE said on Thursday its legal battle with Akorn over its canceled $4.7 billion takeover could drag on into 2019 as it posted a slight decline in quarterly profit hurt by a strong euro.

Fresenius alleges 'blatant fraud' at U.S. drugmaker Akorn

WILMINGTON, Del./NEW YORK (Reuters) - German healthcare group Fresenius alleged it uncovered "blatant fraud at the very top level" of U.S. generic drugmaker Akorn Inc after Fresenius agreed to acquire the company for $4.75 billion, according to a court filing made public late on Tuesday.
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