Akorn Announces $3.5 Purchase Order For Calcium-DTPA and Zinc-DTPA
September 18 2006 - 7:00AM
Business Wire
Akorn, Inc. (AMEX:AKN) today announced that it has received a
purchase order from the Department of Health and Human Services
(HHS) for the procurement of Ca-DTPA and Zn-DTPA. This order
represents a partial exercise of a purchase option that was awarded
to the Company by HHS on December 30, 2005, for the acquisition of
up to an additional one million units of Ca-DTPA and Zn-DTPA by the
United States Government. The purchase order quantities are
intended to provide countermeasures to protect the American
military population in the event of a radiological or nuclear
incident. The total value of the order is approximately $3.5
million. Akorn expects to deliver the entire order quantity to the
United States Government in the fourth quarter of 2006. Arthur S.
Przybyl, President and Chief Executive Officer stated, "This
purchase order represents the first time that the Department of
Health and Human Services has exercised its option to purchase
additional quantities of Ca-DTPA and Zn-DTPA. We anticipate that
additional purchase options will be exercised over the next several
years for these two important antidotes." About Akorn, Inc. Akorn,
Inc. manufactures and markets sterile specialty pharmaceuticals.
Akorn has manufacturing facilities located in Decatur, Illinois and
Somerset, New Jersey and markets and distributes an extensive line
of hospital and ophthalmic pharmaceuticals. Additional information
is available at the Company's website at www.akorn.com. Materials
in this press release may contain information that includes or is
based upon forward-looking statements within the meaning of the
Securities Litigation Reform Act of 1995. Forward-looking
statements give our expectations or forecasts of future events. You
can identify these statements by the fact that they do not relate
strictly to historical or current facts. They use words such as
"anticipate," "estimate," "expect," "project," "intend," "plan,"
"believe," and other words and terms of similar meaning in
connection with a discussion of future operating or financial
performance. In particular, these include statements relating to
future steps we may take, prospective products, future performance
or results of current and anticipated products, sales efforts,
expenses, the outcome of contingencies such as legal proceedings,
and financial results. Any or all of our forward-looking statements
here or in other publications may turn out to be wrong. They can be
affected by inaccurate assumptions or by known or unknown risks and
uncertainties. Many such factors will be important in determining
our actual future results. Consequently, no forward-looking
statement can be guaranteed. Our actual results may vary
materially, and there are not guarantees about the performance of
our stock. Any forward-looking statements represent our
expectations or forecasts only as of the date they were made and
should not be relied upon as representing our expectations or
forecasts as of any subsequent date. We undertake no obligation to
correct or update any forward-looking statements, whether as a
result of new information, future events or otherwise, even if our
expectations or forecasts change. You are advised, however, to
consult any further disclosures we make on related subjects in our
reports filed with the SEC. In particular, you should read the
discussion in the section entitled "Cautionary Statement Regarding
Forward-Looking Statements" in our most recent Annual Report on
Form 10-K, as it may be updated in subsequent reports filed with
the SEC. That discussion covers certain risks, uncertainties and
possibly inaccurate assumptions that could cause our actual results
to differ materially from expected and historical results. Other
factors besides those listed there could also adversely affect our
results.
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