Fresenius Kabi agrees to acquire Akorn for $4.3bn

Under the deal, Fresenius Kabi will pay $34.00 per Akorn share, in addition to assuming around $450m of debt.

Akorn is engaged in the development, manufacturing and marketing of generic and branded prescription pharmaceuticals, as well as animal and consumer health products.

The firm is specialized in producing sterile and non-sterile dosage forms, comprising of ophthalmics, injectables, oral liquids, otics, topicals, inhalatants and nasal sprays.

Akorn also produces ointments and gels and respiratory drugs, in addition to sterile injectable products.

The company markets its products to retail pharmacies, ophthalmologists, optometrists, physicians, veterinarians, hospitals, clinics, wholesalers, distributors, group purchasing organizations, and government agencies.

Subject to approval by Akorn shareholders and other customary closing conditions, the deal is expected to complete by early 2018.

Fresenius Kabi USA president and CEO John Ducker said: “Akorn brings to Fresenius Kabi specialized expertise in development, manufacturing and marketing of alternate dosage forms, as well as access to new customer segments like retail, ophthalmology and veterinary practices.

“Its pipeline is also impressive, with approximately 85 ANDAs filed and pending with the FDA and dozens more in development.”

Akorn CEO Raj Rai said: “We look forward to working with Fresenius Kabi on this next phase of our growth. When the transaction closes, we will strive to ensure a smooth transition for our employees and customers.”

In August 2016, Fresenius Kabi announced plans to invest round $250m to expand its pharmaceutical manufacturing facility in Melrose Park, Illinois.

The company will invest the amount over ten years to expand the site for the continued manufacturing of generic injectable medicines. 

Image: Fresenius Kabi’s pharmaceutical manufacturing facility in Melrose Park, Illinois, US. Photo: courtesy of Business Wire.