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NEW YORK ( TheStreet) -- Akorn (Nasdaq: AKRX) hit a new 52-week high Friday as it is currently trading at $12.32, above its previous 52-week high of $12.25 with 850,662 shares traded as of 11:40 a.m. ET. Average volume has been 1.3 million shares over the past 30 days. Akorn has a market cap of $1.07 billion and is part of the health care sector and drugs industry. Shares are up 8% year to date as of the close of trading on Thursday. Akorn, Inc. engages in the manufacture and marketing of diagnostic and therapeutic pharmaceutical products, hospital drugs, and injectable pharmaceuticals in the United States and internationally. The company has a P/E ratio of 20, above the average drugs industry P/E ratio of 18.7 and above the S&P 500 P/E ratio of 17.7.