Akorn Acquires U.S. Rights to Trio of Merck Eye Treatments

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Generic drug purveyor Akorn (NASDAQ: AKRX  ) has expanded its portfolio of ophthalmic products thanks to a deal with Merck (NYSE: MRK  ) . The company announced it has acquired the U.S. rights to a trio of such treatments -- AzaSite, COSOPT, and COSOPT PF -- from the global drugmaker. The price is $52.8 million in cash.

All three products are eye drop solutions. AzaSite treats bacterial conjunctivitis, a type of infection, while COSOPT and COSOPT PF help lower pressure in the eye for patients with open-angle glaucoma or ocular hypertension.

Akorn said it aims to start shipping COSOPT and COSOPT PF immediately, and AzaSite in Q1 2014. 

In the press release announcing the news, the company said its purchase "is expected to elevate Akorn's reputation with prescribers and leverage Akorn's existing ophthalmic sales force and physician relationships." It expects that the deal to add $34 million to $38 million to its 2014 top line and roughly $0.09 to $0.11 per share of adjusted net income.

At the end of its most recently reported quarter, Akorn had $75.6 million in cash and short-term investments. Its long-term debt stood at $107.7 million.

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2729120, ~/Articles/ArticleHandler.aspx, 9/28/2016 6:46:25 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 9 hours ago Sponsored by:
DOW 18,228.30 133.47 0.74%
S&P 500 2,159.93 13.83 0.64%
NASD 5,305.71 48.22 0.92%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/27/2016 4:00 PM
AKRX $27.78 Up +0.36 +1.31%
Akorn CAPS Rating: ***
MRK $62.57 Up +0.42 +0.68%
Merck and Co. CAPS Rating: ****