|View printer-friendly version|
Akorn, Inc. Receives FDA Approval to Launch Paremyd(R)
BUFFALO GROVE, Ill., Jan. 16 /PRNewswire-FirstCall/-- Akorn, Inc. (Nasdaq: AKRN) today announced that the company has received FDA approval to market Paremyd(R) (hydroxyamphetamine hydrobromide 1% & tropicamide 0.25%), a topical mydriatic/cycloplegic combination product that Akorn acquired from Allergan, Inc. in 1997. Akorn expects to launch Paremyd, which will be manufactured in its Somerset, New Jersey facility, in March 2002.
Paremyd is indicated for pupil dilation in routine ophthalmic diagnostic procedures and eye exams. Akorn is the exclusive manufacturer of this unique combination eye drop. Its formulation consists of two well-established ingredients and has demonstrated efficacy superior to either of the active ingredients administered separately. Paremyd's fast onset will benefit patients by decreasing waiting time during their eye exams, thus allowing eye care professionals to better manage patient flow through their office. In addition to its fast onset, Paremyd provides short lasting pupil dilation, sparing patients the often-required dilation reversal step.
Tony Pera, Akorn's president and chief operating officer stated, "We are extremely pleased about the launch of Paremyd, and we believe it represents the first step in re-establishing Akorn's position in the ophthalmic market. Despite the delay in introducing Paremyd, which was attributable to raw material issues and the site transfer process, we are confident that its proven efficacy and treatment benefits will greatly improve patient outcomes."
About Akorn, Inc.
Akorn, Inc. manufactures and markets sterile specialty pharmaceuticals, and markets and distributes an extensive line of ophthalmic pharmaceuticals and surgical supplies and other related products.
The information contained in this news release, other than historical information, consists of forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such statements, including, but not limited to, the timing of acquiring and developing new products, of bringing them on line and deriving revenues and profits from them, as well as the effects of those revenues and profits on the Company's margin and financial position are uncertain because many of the factor affecting the timing of those items are beyond the Company's control. Such statements are based on management's current expectations, but actual results may differ materially due to various factors including risks and uncertainties mentioned or referred to in this press release or in the filings the Company makes with the Securities and Exchange Commission including it annual reports on Form 10-K and its quarterly reports on Form 10-Q.
MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X18142236SOURCE Akorn, Inc.
CONTACT: Ben J. Pothast, Chief Financial Officer of Akorn, +1-847-279-6100, or Investor Relations, Lisa Carlton-Wilson of In-Site Communications, +1-212-759-3929 (AKRN) http://www.prnewswire.com
Copyright (C) 2002 PR Newswire. All rights reserved.