Akorn acquires NDA and all rights to Betimol from Santen

Jan 9 2014

Akorn, Inc. (NASDAQ: AKRX), a niche generic pharmaceutical company, today announced that it has acquired the NDA and all rights to Betimol® (timolol ophthalmic solution) 0.25% & 0.5% from Santen. Akorn plans to begin shipping Betimol® in the first quarter of 2014.

Raj Rai, Chief Executive Officer, commented, "We are excited to add Betimol® to our portfolio of branded ophthalmic products. This acquisition further enhances our platform and growth opportunities in 2014."

Financial Impact of the Transaction

This transaction is expected to add approximately $8 million to $9 million in revenues to 2014 and approximately $0.03 to $0.04 of adjusted net income per diluted share.