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Bioluz and Akorn, Inc sign Memorandum of Understanding for five Premix products
November 24th, 2008
Press Release,
Source: Akorn, Inc.
LAKE FOREST, Ill.--(BUSINESS WIRE)--Akorn, Inc. (NASDAQ: AKRX) today announced that it has
signed a memorandum of understanding with Bioluz S.A., a privately held French company, for five
premix products. The estimated market size of the five products, based on recent IMS data, is
approximately $175 million. Premix medications are ready to use intravenous drug products which
eliminate compounding steps in the pharmacy or at the point of care.
Under the terms of the memorandum of understanding, Akorn will be responsible for the development,
regulatory filings, marketing and distribution of the premix product line. Bioluz will exclusively
manufacture the products at its intravenous solutions manufacturing facility and Akorn will own the
ANDAs. Financial terms of the agreement were not disclosed. Both parties expect to execute the
definitive development and supply agreement within sixty days.
Arthur S. Przybyl, Akorn's President and Chief Executive Officer stated, "We look forward to partnering
with Bioluz on these niche premix products. Bioluz is a premier manufacturer of premix medications.
This agreement complements Akorn's portfolio of hospital injectable drug products and expands our
product pipeline."
Jean-Jacques Chappaz, President, Director and General Manager of Bioluz, stated, "Bioluz, a wholly
owned company of Technoflex s.a., is pleased to be partnering with Akorn to bring premix drugs to the
U.S. market. Akorn's strategy to market niche injectable drugs is in line with our contract
manufacturing plans in the U.S."
About Akorn, Inc.
Akorn, Inc. manufactures and markets sterile specialty pharmaceuticals. Akorn has manufacturing
facilities located in Decatur, Illinois and Somerset, New Jersey and markets and distributes an
extensive line of hospital and ophthalmic pharmaceuticals. Additional information is available at the
Company's website at www.akorn.com.
About Bioluz S.A.
Technoflex- Bioluz is a fully integrated contract drug manufacturer focused on premixed drugs in
flexible bags, utilizing proprietary non-PVC films. With facilities in Bidart, France, the company seeks
partnerships worldwide to provide expertise in injectable drug products in flexible bags. Additional
information is available at the Company's website at www.bioluz.com
Materials in this press release may contain information that includes or is based upon forward-looking
statements within the meaning of the Securities Litigation Reform Act of 1995. Forward-looking
statements give our expectations or forecasts of future events. You can identify these statements by
the fact that they do not relate strictly to historical or current facts. They use words such as
"anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of
similar meaning in connection with a discussion of future operating or financial performance. In
particular, these include statements relating to future steps we may take, prospective products, future
performance or results of current and anticipated products, sales efforts, expenses, the outcome of
contingencies such as legal proceedings, and financial results.
Any or all of our forward-looking statements here or in other publications may turn out to be wrong.
They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties.
Many such factors will be important in determining our actual future results. Consequently, no forwardlooking
statement can be guaranteed. Our actual results may vary materially, and there are not
guarantees about the performance of our stock.
Any forward-looking statements represent our expectations or forecasts only as of the date they were
made and should not be relied upon as representing our expectations or forecasts as of any
subsequent date. We undertake no obligation to correct or update any forward-looking statements,
whether as a result of new information, future events or otherwise, even if our expectations or
forecasts change. You are advised, however, to consult any further disclosures we make on related
subjects in our reports filed with the SEC. In particular, you should read the discussion in the section
entitled "Cautionary Statement Regarding Forward-Looking Statements" in our most recent Annual
Report on Form 10-K, as it may be updated in subsequent reports filed with the SEC. That discussion
covers certain risks, uncertainties and possibly inaccurate assumptions that could cause our actual
results to differ materially from expected and historical results. Other factors besides those listed there
could also adversely affect our results.
Contact:
Akorn, Inc. / Bioluz SA
Arthur Przybyl / Jean-Jacques Chappaz
President and CEO President / Director and General Manager
(847) 279-6100 / +33 559 51 8484
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