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www.fdanews.com/articles/186657-fresenius-claims-blatant-fraud-at-akorn-led-it-to-scuttle-merger

Fresenius Claims “Blatant Fraud” at Akorn Led It to Scuttle Merger

May 3, 2018

Fresenius claimed it discovered “blatant fraud at the very top level of Akorn’s executive team [and] stunning evidence of blatant and pervasive data integrity violations,” after it had agreed to acquire the company last year — leading to its decision to pull out of the planned $4.3 billion deal.

Responding to an Akorn complaint in Delaware Chancery Court seeking to get the merger to go ahead, Fresenius claimed an Akorn executive vice president for quality assurance deliberately falsified testing data submitted to the FDA related to the company’s marketing application for the antibiotic azithromycin.

The filing alleged similar misconduct in connection with at least five other Akorn products, and said the executive in question was suspended and then rehired as a consultant. The merger would have secured a payout to him had it gone through.

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