Akorn

What Akorn does

Akorn was a U.S. specialty pharmaceutical company that developed, manufactured, and marketed multi-source generic and branded prescription products, with a primary focus on ophthalmic pharmaceuticals including sodium chloride ophthalmic solutions and the specialty injectable Hydase (hyaluronidase). The company served ophthalmic healthcare providers and patients, addressing ocular and eye health conditions through its niche generic and specialty product portfolio. Akorn expanded its product base through acquisitions, including Hi-Tech Pharmacal in 2013 and VersaPharm for approximately $440 million in 2014, growing reported revenue to $682.43 million at its peak.

The company operated as a publicly traded entity on NASDAQ under ticker AKRX and was headquartered in Lake Forest, Illinois, with a reported workforce of 1,001–5,000 employees. Its product portfolio spanned generic sterile injectable, topical, and ophthalmic formulations. The company grew through inorganic moves in the generics and specialty injectable space, but these acquisitions did not ultimately provide sufficient cash flow stability.

In May 2020, Akorn filed for Chapter 11 bankruptcy protection, was delisted from NASDAQ, and now trades on OTCMKTS under the ticker AKRXQ (the 'Q' suffix denotes bankruptcy proceedings). The company's website (akorn.com) is parked and inactive, and the entity is classified as closed, indicating it has ceased normal operations and is no longer a going concern. Available information on post-bankruptcy ownership, asset disposition, or any successor entity is not present in the input data.

Name

Akorn

Legal name

Akorn Inc.

Website

https://akorn.com

Company type

Public

Founded year

1998

Operating status

Closed

Headcount range

1,001–5,000 employees

Short description

Akorn was a U.S. specialty pharmaceutical company that developed, manufactured, and marketed generic and branded ophthalmic products, including sodium chloride ophthalmic solutions and hyaluronidase (Hydase), serving healthcare providers and patients. The company filed for Chapter 11 bankruptcy in May 2020 and has since ceased operations.

Ownership category

akta.pro rank

Product category

Generic & Specialty Pharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412), Pharmaceutical and Medicine Manufacturing (3254), Ophthalmic Goods Merchant Wholesalers (42346)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Ophthalmology Specialty Pharmaceuticals (HLAIACAK)

akta.pro secondary industry

Ophthalmology Pharmaceuticals (HLAIAAAL)

Keywords

• Generic pharmaceuticals
• Ophthalmic medications
• Specialty pharmaceuticals
• Prescription drug manufacturing
• Multi-source pharmaceuticals

Headquarters

HQ city

Lake Forest

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales

Core offering

Akorn was a U.S. specialty pharmaceutical company that developed, manufactured, and marketed multi-source (generic) and branded prescription pharmaceuticals. Its portfolio was anchored in ophthalmic products (including sodium chloride ophthalmic solutions) and specialty therapeutics such as hyaluronidase (Hydase), with operations and revenue concentrated in North America prior to its May 2020 Chapter 11 bankruptcy filing.

Product overview

Akorn was a U.S. specialty pharmaceutical company focused on ophthalmic products and medications. The company filed for Chapter 11 bankruptcy in May 2020 and has since ceased operations. The akorn.com domain is currently parked and inactive. Based on market research reports, Akorn was identified as a key player in the sodium chloride ophthalmic products market and the hyaluronidase (Hydase) market.

Differentiator

Problem solved

Functional benefit

Products and services

• Sodium Chloride Ophthalmic Products Ophthalmic sodium chloride formulations developed for eye health treatments, serving ophthalmic healthcare providers and patients. Akorn was identified as a key player in this product market.
• Hyaluronidase (Hydase) Specialty injectable pharmaceutical (hyaluronidase, branded as Hydase) used as a spreading agent to enhance absorption of other injected drugs. Akorn was identified as a key player in the hyaluronidase market.
• VersaPharm Product Portfolio (acquired) VersaPharm's specialty pharmaceutical product portfolio acquired by Akorn, expanding its specialty drug offerings in the U.S. market.
• Hi-Tech Pharmacal Product Portfolio (acquired) Hi-Tech Pharmacal's generic and specialty pharmaceutical product portfolio acquired by Akorn, broadening its generic and specialty pharmaceutical offerings in the U.S. market.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves4 records

Expansion highlights1 record

Broad incumbents

• Viatris (Mylan): Viatris (formed via Mylan-Upjohn merger) is a major global generic and specialty pharmaceutical company; its broad generic portfolio and specialty franchise closely mirror Akorn's product strategy.
• Sun Pharmaceutical Industries: Sun Pharma is a large specialty and generic pharmaceutical company with a meaningful ophthalmic generics business, comparable to Akorn in scale and category focus.
• Teva Pharmaceutical Industries: Teva is the world's largest generic drug manufacturer with significant ophthalmic and specialty generic exposure, broadly comparable in business model to Akorn's multi-source generic strategy.
• Endo International: Endo is a specialty pharmaceutical company with generic and branded injectable franchises; its specialty-generic operating model and North American distribution footprint are comparable to Akorn's.

Direct peers

• Alcon: Alcon is the world's largest dedicated eye-care company with a broad ophthalmic pharmaceutical franchise spanning branded and generic products, making it a direct competitor to Akorn's core ophthalmic business.
• Bausch + Lomb: Bausch + Lomb is a leading global ophthalmic pharmaceutical and surgical products company, directly comparable to Akorn's specialty ophthalmic portfolio across prescription eye drops, generics, and surgical pharmaceuticals.
• Allergan (AbbVie): Allergan, now part of AbbVie, operated a sizable ophthalmic pharmaceutical business (e.g., RESTASIS, Lumigan) directly comparable to Akorn's niche prescription ophthalmic portfolio.
• Hikma Pharmaceuticals: Hikma is a U.S.-listed specialty generic pharmaceutical company with significant ophthalmic injectable and topical exposure, making it a comparable mid-cap specialty generic peer.
• Lannett: Lannett is a U.S.-focused generic pharmaceutical manufacturer with overlapping ophthalmic and specialty categories, comparable in scale, distribution model, and customer base to Akorn.
• Apotex: Apotex is a large Canadian-headquartered generic pharmaceutical manufacturer with a U.S. commercial presence and an ophthalmic product line, making it a relevant peer in the same specialty generic category.

Market position

Strengths2 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights4 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Akorn