Akorn, Inc. and Natco Pharma Limited Add Two Injectable Drug Products To API Supply and Margin Sharing Agreement.BUFFALO GROVE, Ill. -- Akorn, Inc. (AMEX: AKN AKN - Altona-Kaltenkirchen-Neumünster (public transportation system in the north of Hamburg, Germany) AKN - Army Knowledge Network AKN - King Salmon Airport (Alaska) AKN - Net Cargo Ship (Auxiliary, Cargo, Net)) today announced that it has added two injectable drug products to its API Supply and Margin Sharing Agreement with Natco Pharma Limited (NSE: NATCOPHARM)(BSE: 524816). The two ANDA drug products are indicated for the prevention of nausea and vomiting associated with cancer chemotherapy, and have a combined current market size of approximately $360 million. Under the API Supply and Margin Sharing Agreement that was in signed April 2006, Natco will be responsible for the supply of active pharmaceutical ingredients for both drug products, while Akorn will be responsible for the manufacturing, regulatory submissions, marketing and distribution in the hospital, clinic, and home healthcare markets in the United States and Canada. Arthur S. Przybyl, Akorn's President and Chief Executive Officer stated, "We are excited to expand our business partnership with Natco Pharma. These two products will provide an excellent fit with our oncology product pipeline." Rejeev Nannapaneni, Natco Pharma's Chief Operating Officer stated, "We are happy to take our cooperation to four projects now. This deal structure will enhance business opportunities in an increasingly competitive environment." 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 Natco Pharma Limited Natco Pharma Limited is an integrated pharmaceutical company based out of Hyderabad Hyderabad, city (1991 pop. 4,344,437), former capital of Hyderabad and now capital of Andhra Pradesh, was founded as a fort (named Bhagyanagar) in 1589 by the ruler of the Golconda kingdom. An administrative and commercial center and a transportation hub, the city has fine ancient structures, notably the Charminar (1591) and the Old Bridge (1593)., Andhra Pradesh Andhra Pradesh (än`drə prä`dāsh), state (2001 provisional pop. 75,727,541), 106,052 sq mi (275,608 sq km), SE India, on the Bay of Bengal. The capital is Hyderabad. The state was created in 1956 from the Telugu-speaking portions of Madras (now Tamil Nadu) and Hyderabad states., India. Natco has four manufacturing facilities in and around Hyderabad. Among these, a large API facility and a finished dosage pharmaceutical formulations facility are approved by the U.S. FDA. Natco also has an independent Research Centre located at Hyderabad which supports its manufacturing facilities. Additional information is available at the Company's website at www.natcopharma.co.in. 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 forward-looking 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. |
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