Akorn Appoints Raj Rai as Strategic Consultant

Monday, March 2, 2009

LAKE FOREST, Ill.--(BUSINESS WIRE)--Akorn, Inc. (NASDAQ: AKRX) today announced the appointment of Raj Rai as Strategic Consultant to the Special Committee of the Board of Directors. As the company has previously announced, the Special Committee was established following the departure of Arthur Przybyl, formerly President and CEO, to oversee the operations of the company while the search for a new CEO is underway. Mr. Rai will advise the Committee as it evaluates its various business segments and works towards a positive resolution of its working capital needs.

Mr. Rai is a veteran healthcare executive. Most recently, from 2000 to 2007, he served as President and CEO for Option Care Inc., Buffalo Grove, IL (NASDAQ: OPTN). Mr. Rai joined Option Care in 1992 and held progressively responsible positions with the firm until it was sold to Walgreens Co. in August 2007. Since 2008, Mr. Rai has served on the Board of Directors for SeQual Technologies Inc, San Diego, CA, a medical device manufacturer.

Mr. Rai received a B.S. Mechanical Engineering from the National Institute of Technology, Warangal, India and holds an MBA in Finance from Wayne State University.

Dr. Kapoor, Akorn’s Chairman of the Board stated, “We are very pleased that Raj has joined the Akorn team as a strategic consultant. The depth of his executive experience in pharmacy services and specialty distribution and his extensive knowledge of operations, finance and sales and marketing will be extremely helpful to us as we work through the transition in leadership. In the meantime, we will continue to search for a permanent CEO.”

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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Contacts:
Akorn, Inc.
Jeffrey A. Whitnell
Chief Financial Officer
(847) 279-6100