Akorn, Inc. Enters into an Agreement to License a Patent from the University of Texas M.D. Anderson Cancer Center.

BUFFALO GROVE, Ill. -- Akorn, Inc. (AMEX:AKN) today announced that it has entered into the agreement to license a patent entitled "M-EDTA Pharmaceutical Preparations of Uses Thereof" (the "Invention") and related technology rights invented by Issam I. Raad and Robert Sheretz. The license grants Akorn the exclusive rights to develop and market the Invention. Previously, on August 24, 2004 Akorn announced that it had entered into an Option Agreement to license the patent.

The Invention is targeted at the prevention of intravascular catheter-related infections and occlusions. Akorn has paid an initial license fee to M.D. Anderson and will fund all expenses necessary to commercialize the product. Akorn is obligated to pay a milestone license fee upon FDA approval and royalties for the life of the patent.

Arthur S. Przybyl, Akorn's President and Chief Executive Officer, stated, "Once developed, the Invention has the real potential to help prevent catheter related infection in high-risk patients by maintaining lumen patency. There are current CDC Guidelines that recommend using prophylactic antibiotic lock solutions for these types of high-risk patients. We believe that 25% of all patients who use central venous catheters could benefit from using the Invention on a daily basis. Work to develop this product has already begun and we anticipate filing a 510(k) application by the 4th quarter of 2005."

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.

Any statements made by Akorn, Inc. ("we", "us", "our", "Akorn" or the "Company") in this press release that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The company cautions readers that important factors may affect the Company's actual results and could cause such results to differ materially from forward-looking statements made by or on behalf of the Company. Such factors include, but are not limited to, risks and uncertainties relating to (i) the ability to generate cash from operations sufficient to meet the Company's working capital requirements, (ii) the necessity of complying with various regulatory procedures in the manufacture of drug products, (iii) the Company's ability to acquire, develop, finance, test, produce and market new products, including the availability of materials to produce products, (iv) the resolution of the FDA compliance issues at the Company's Decatur, Illinois manufacturing facility and the outcome of other legal proceedings involving the Company, (v) patent protection for the Company's intellectual property or trade secrets, and (vi) other risks detailed from time to time in filings the Company makes with the Securities and Exchange Commission including, but not limited to, those risks referenced under the caption "Factors That May Affect Future Results" in Item 1 of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2003.