Apr 22 2010
Akorn, Inc. (NASDAQ:AKRX) a niche generic pharmaceutical company, today announced that the U.S. Food and Drug Administration (FDA) has granted approval of the Company's Abbreviated New Drug Application (ANDA) supplement for Erythromycin Ophthalmic Ointment USP 3.5 g. The company intends to begin shipping the product immediately.
“We identified an opportunity to re-launch Erythromycin as ongoing market shortages have made this an attractive product which is complementary to the other ophthalmic ointments Akorn currently sells.”
Raj Rai, the Interim Chief Executive Officer of Akorn stated, "We identified an opportunity to re-launch Erythromycin as ongoing market shortages have made this an attractive product which is complementary to the other ophthalmic ointments Akorn currently sells."
According to IMS Health, the annualized U.S. sales for Erythromycin 3.5 g based on fourth quarter 2009 data, were approximately $26 million.
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