AKORN, INC. SIGNS LETTER OF INTENT WITH FIDIA FARMACEUTICI, S.P.A. TO DEVELOP FOUR ANDA DRUG PRODUCTS

Akorn, Inc. (AMEX:AKN) today announced that it has signed a Letter of Intent with Fidia Farmaceutici S.p.A., a privately-held pharmaceutical company located in Abano Terme (Padova), Italy, to develop four ANDA drug products. The Letter of Intent anticipates executing a Definitive Agreement within ninety days upon Terms and Conditions agreeable to both Akorn and Fidia. The four ANDA drug products include one ointment product, one cream product, and two tablet formulation products used in the immuno compromised anti-viral market. The combined current market size of the four drugs is approximately $1.0 billion.

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