Akorn Receives Second Warning Letter In Six Months
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Akorn and its subsidiaries in the US have gone ahead with a Chapter 11 bankruptcy filing, paving the way for an in-court sale of the business and bringing the curtain down for now on the story of one of the hottest generic injectable properties of the last decade.
US generics company Akorn, which has been struggling since Germany’s Fresenius walked away from a $4.3bn merger three years ago, plans to put itself up for sale under an extended standstill agreement with lenders.
Buried within its financial disclosure of a standstill agreement with creditors until 7 February, Akorn disclosed that it is considering whether to file for bankruptcy protection in the US.