- Tenth consecutive quarter of growth in core revenue, adjusted EBITDA and gross margin. Akorn’s core business consists of the ophthalmic, hospital drugs & injectables and contract services segments.
- Core business revenue growth of 77% over the prior year quarter and annual 2011 core revenue growth of 69% over the prior year.
- Expanded our consolidated annual gross margins from 50% in 2010 to 58% in 2011 and ended the year with fourth quarter 2011 consolidated gross margins of 60%.
- Completed the first full year of product development from new R&D center established in early 2010. Completed the development of 30 ANDAs and filed 22.
- Raised $120 million in a convertible debt offering with the proceeds earmarked for business development.
- Acquired Advanced Vision Research (“AVR”), a leading OTC ophthalmic player in the dry eye market.
- Acquired three niche, branded injectable products from H. Lundbeck A/S (“Lundbeck”).
- Additionally, acquired 4 approved products: 3 NDAs and 1 ANDA, and in-licensed 2 products in development.
- Entered into agreement to acquire certain assets of Kilitch Drugs (India) Limited to expand the Company’s capacity and capabilities in sterile injectables. The acquisition closed on February 28, 2012.
- Acquired a minority stake in Aciex Therapeutics Inc., an ophthalmic drug development company with a focus on developing novel therapeutics to treat front-of-eye diseases, and signed a global licensing and manufacturing agreement for one of Aciex’s lead products under development.
Akorn Reports 2011 Fourth Quarter And Year-End Financial Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.