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Stock Market & Financial Investment News

News Breaks
May 9, 2014
09:19 EDTAKRXAkorn to acquire VersaPharm for $440M in cash
Akorn announced that it has entered into a definitive agreement to acquire VPI Holdings Corp., the parent company of VersaPharm Incorporated, for $440M in cash. This acquisition is expected to add $90M-$100M in annual revenues and 10c-12c in EPS, excluding new pipeline launches, deal amortization and acquisition-related expenses. Akorn intends to fund the transaction through approximately $445M in term loan borrowings. Fully committed financing for the transaction has been provided by JPMorgan Chase Bank, N.A. The acquisition will be subject to customary conditions, including termination of the waiting period under the provisions of the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended. Pending the satisfaction of such customary conditions, Akorn anticipates closing the transaction in 3Q14.
News For AKRX From The Last 14 Days
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January 26, 2015
07:05 EDTAKRXAkorn price target raised to $55 from $45 at Piper Jaffray
Piper Jaffray raised its price target for Akorn shares to $55 saying approvals of "seemingly minor" abbreviated New Drug Application opportunities, like last week's Phenylephrine Hydrochloride Ophthalmic Solution, could in the aggregate drive significant upside to consensus estimates in 2015 and beyond. Piper reiterates an Overweight rating on shares of Akorn.
January 20, 2015
08:09 EDTAKRXAkorn price target raised to $49 from $44 at Jefferies
Jefferies raised its price target for Akorn shares to $49 to reflect its FY15 estimates. The firm keeps a Buy rating on the stock.
07:11 EDTAKRXAkorn receives FDA approval for Phenylephrine Hydrochloride Ophthalmic Solution
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January 15, 2015
17:36 EDTAKRXAkorn's generic Durezol patent challenged
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January 12, 2015
17:14 EDTAKRXOak Ridge Investments reports 4.03% passive stake in Akorn

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