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 (FY, 2017)

841 m

Gross profit (FY, 2017)

433.1 m

Gross profit margin (FY, 2017), %

51.5%

Net income (FY, 2017)

(24.6 m)

EBIT (FY, 2017)

(17.7 m)

Market capitalization (20-Apr-2018)

2.5 b

Cash (31-Dec-2017)

368.1 m

EV

2.9 b
Akorn's current market capitalization is $2.5 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, 2017

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 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 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 m

Gross profit Margin, %

53%55%51%39%57%58%63%61%61%60%59%52%48%
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, 2017

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 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 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 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 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, 2017

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

Depreciation and Amortization

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

Cash From Operating Activities

45.3 m181 m252.1 m9 m36.1 m95.6 m127.5 m160 m209.8 m
USDY, 2017

EV/EBIT

-164.6 x

EV/CFO

11.7 x

Revenue/Employee

372 k

Financial Leverage

2.3 x
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Akorn News and Updates

Akorn settles U.S. lawsuit stemming from financial restatement

March 26 (Reuters) - Akorn Inc and two former executives have agreed to settle claims stemming from inaccurate financial statements the drugmaker issued in 2014 that it later needed to restate, the U.S. Securities and Exchange Commission on Monday said.

Fresenius' $4.3B buyout of Akorn threatened by data integrity probe

Fresenius’ $4.3 billion deal to buy out U.S. generics maker Akorn is in jeopardy as the two companies investigate allegations that Akorn violated FDA data standards during drug development.

New FTC rules hurt M&A prospects for hard-hit generics players

The generics sector has been looking to M&A as a way to combat the pricing pressure crushing top lines around the industry. But that strategy just got a whole lot less attractive.

Fresenius oncology drug plant slammed with new warning letter

A Fresenius Kabi cancer drug plant in India savaged by the FDA in the past for hiding serious drug testing issues, has been branded with a new warning letter.

Fresenius Kabi to invest $100M, add 445 jobs in North Carolina as U.S. investments now top $5B

With plans for a major expansion of its North Carolina site, Fresenius Kabi's investments aimed primarily at the U.S. generics market now top $5 billion as the German drugmaker bets on growth in sterile injectables.

Akorn sterile plant in Illinois smacked again by the FDA

An Akorn sterile injectables plant in Illinois is in hot water with the FDA again, but this time it may be a problem for Fresenius Kabi, which is buying the generics manufacturer in a $4.3 billion deal.
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