Akorn, Inc. Signs an Exclusive Licensing, Development and Supply Agreement with Sofgen Pharmaceuticals.

BUFFALO GROVE, Ill. -- Akorn, Inc. (NASDAQ: AKRX) today announced that it has signed an exclusive licensing, development and supply agreement with Sofgen Pharmaceuticals, a privately-held company located in Sunrise, Florida. The agreement is intended to develop an ANDA oral drug product for women's healthcare. The current market size is approximately $115 million, according to recent IMS sales data. Financial terms of the agreement were not disclosed.

Sofgen will be responsible for development and manufacturing of the orally administered drug product. Akorn will be responsible for the regulatory submission, marketing and distribution in the United States and Puerto Rico. The two companies are expected to begin a pivotal Bioequivalence (BE) study in October 2007 with a projected launch date in late 2009.

Arthur S. Przybyl, Akorn's President and Chief Executive Officer stated, "On September 7, 2007 we previously announced an ANDA filing in collaboration with Sofgen. Building upon that success, we look forward to working together again. This soft gel oral drug product will be the second addition to our pipeline in women's healthcare and potentially a significant revenue contributor for both companies."

Ruben Minski, Sofgen's President and Chief Executive Officer stated, "We felt great chemistry in working hand by hand with Akorn's team in our previous ANDA filing, so we welcome this new opportunity with this soft gel oral development where we have put a great deal of resources. The drug is a specialty type niche pharmaceutical, with no current generic competitors and we are confident that with the combined energy and know-how between our Companies, the rewards will be gratifying."

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 Sofgen Pharmaceuticals

Sofgen Pharmaceuticals is part of an Industrial Conglomerate with strong emphasis in the Healthcare and related businesses, including soft gelatin manufacturing facilities in South America and a Pharmaceutical Division with a distribution network that reaches 33 different countries around the globe.

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