Akorn, Inc. and Cipla, Ltd. Announce the Signing of an Exclusive Drug Development and Supply Agreement for an Injectable ANDA Drug Product for the Prevention of Organ Transplant Rejection

Thursday, July 19, 2007

BUFFALO GROVE, Ill.--(BUSINESS WIRE)--Akorn, Inc. (NASDAQ:AKRX - News) today announced the signing of an exclusive drug development and supply agreement with Cipla, Ltd., a leading Indian pharmaceutical company located in Mumbai, India for an injectable ANDA drug product for the prevention of organ transplant rejection. In June 2007, Akorn previously announced the exclusive agreement for the oral dosage form of this drug product. The addition of the injectable format expands the breadth of Akorn's offerings for this indication.

Under terms of the ten-year agreement, Cipla will be responsible for the development, manufacturing and supply of the drug product. Akorn will be responsible for the ANDA regulatory submission and marketing and distribution in the United States and Puerto Rico. Akorn will pay Cipla milestone fees for Cipla's assistance with the ANDA development. Akorn will own the ANDA in the United States. Pursuant to the agreement, Akorn will purchase the drug product from Cipla on an exclusive basis. Akorn expects to launch the product in late 2009.

Arthur S. Przybyl, Akorn's President and Chief Executive Officer stated, "This exclusive drug development and supply agreement reinforces our commitment to expanding our business relationship with Cipla."

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.

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Contact:
Akorn, Inc.
Arthur S. Przybyl, 847-279-6100
President and CEO