Akorn, Inc. Announces First ANDA Submission For Serum Institute of India, Ltd.

Wednesday, December 5, 2007

BUFFALO GROVE, Ill.--(BUSINESS WIRE)--Akorn, Inc. (NASDAQ:AKRX - News) today announced that it has submitted the first Abbreviated New Drug Application (ANDA) with the Office of Generic Drugs on behalf of Serum Institute of India, Ltd. Akorn and Serum announced the signing of an exclusive drug development and distribution agreement for 16 anti-cancer injectable products in October 2004. Since then, Serum has constructed and validated a dedicated, state-of-the art manufacturing facility for producing liquid and lyophilized oncolytic drug products.

The submitted ANDA is a drug product that is given as a treatment for many different types of cancer, and has an estimated U.S. market size of approximately $53 million. Akorn expects to launch the drug product in 2010.

Arthur S. Przybyl, Akorn’s President and Chief Executive Officer stated, “We are excited to announce this new drug product submission. This drug application represents the initial expansion of our product pipeline into anti-cancer injectables. Our partnership with Serum also includes development projects for four vaccine products and a Rabies monoclonal antibody.”

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 Serum Institute of India, Ltd.

Serum Institute is the world’s fifth largest vaccine manufacturer. Its products are being exported to 137 countries across the globe. Serum Institute is now the largest producer of measles and DTP vaccines in the world. An average of more than one out of every two children immunized in the world has received at least one vaccine from Serum Institute. Additional information is available at the Company’s website at www.seruminstitute.com.

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