Beleaguered Akorn Files For Bankruptcy
Pursues Chapter 11 Process After Defaulting On Term Loan
Akorn and its subsidiaries in the US have gone ahead with a Chapter 11 bankruptcy filing, paving the way for an in-court sale of the business and bringing the curtain down for now on the story of one of the hottest generic injectable properties of the last decade.
You may also be interested in...
Mergers and acquisitions have long been a tool for value creation in the generics and biosimilars space. Even with the entire life sciences sector overwhelmed by the novel coronavirus pandemic, deals big and small continued in 2020.
Takeda’s collaboration with the private UK biotech includes NASH and other liver disorders. Reliance will take on Amazon in the India pharmacy space with acquisition of Netmeds.
Akorn’s second-quarter revenues fell by $58m, as it braces for a restructuring and sale process.