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Generic drugs firm Akorn confirms takeover talks with Germany’s Fresenius

Monday, April 10, 2017 6:23
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(Before It's News)

US generic drugs manufacturer Akorn Inc (NASDAQ:AKRX) has confirmed it is in takeover talks with German healthcare firm Fresenius SE.

In separate statements, both companies said there was no certainty the discussions would lead to a deal.

Illinois-based Akorn – which had sales of US$1.1bn last year  – has a current market cap of about US$3.7bn.

Asthma to heart medicines …

The Nasdaq-listed group makes branded and generic versions of ophthalmic, injectable and non-injectable drugs with manufacturing facilities in the US and outside the country.

Its biggest brand-name drugs include asthma treatment, Xopenex and heart medicine, Akten.

In premarket trading, Akorn shares were over 12% higher at US$33.45 each, having soared 18% higher on Friday having following reports of a bid.

Story by ProactiveInvestors


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