Akorn, Inc. Signs Definitive Commercial Manufacturing Supply Agreement with Advanced Vision Research, Inc.
07 8월 2006 - 11:21PM
Business Wire
Akorn, Inc. (AMEX:AKN) today announced that it has signed a
Definitive Commercial Manufacturing Supply Agreement with Advanced
Vision Research Inc. (AVR) for the product, TheraTears(R) lubricant
eye drops. Akorn and Advanced Vision Research had previously
announced the signing of a Term Sheet for the manufacture of
TheraTears(R) on June 6, 2006. TheraTears(R) is a market leading
over-the-counter ophthalmic solution for the treatment of dry eyes,
and has recently been named by Drug Store News as the leading niche
product in the eye care category. The Commercial Manufacturing
Supply Agreement provides for Akorn to manufacture and supply
Advanced Vision Research with TheraTears(R) for seven years.
TheraTears will be manufactured in Akorn's Decatur, IL facility.
Akorn and Advanced Vision Research anticipate initiating dialogue
on additional new contract development and manufacturing
opportunities in AVR's active product pipeline. Arthur S. Przybyl,
Akorn's President and Chief Executive Officer stated, "Akorn is
committed to expanding its Contract Development and Manufacturing
services business. I want to thank Advanced Vision Research for
choosing Akorn to manufacture TheraTears(R). We expect to begin
supplying TheraTears(R) to Advanced Vision Research in the fourth
quarter of 2006." Advanced Vision Research President Jeffrey P.
Gilbard, M.D. stated, "We are pleased to be moving forward with the
manufacture of TheraTears at Akorn's Decatur facility. The
responsiveness of the Akorn team is proving very helpful to us
given the explosive demand for our products." 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. About Advanced Vision Research,
Inc. Advanced Vision Research, with offices in Woburn,
Massachusetts, develops and markets innovative pharmaceuticals for
dry eye and external eye diseases under the TheraTears(R) brand.
The TheraTears(R) line of products include TheraTears(R)
preservative free, TheraTears(R) in a bottle, TheraTears Liquid
Gel, TheraTears(R) Contact Lens Comfort Drops, TheraTears Nutrition
(omega-3 supplement for dry eyes), and TheraTears(R) brand SteriLid
Eyelid Cleanser. Additional information is available at the
Company's website at www.theratears.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. Such
factors include, but are not limited to, risks and uncertainties
relating to the resolution of the FDA compliance issues at our
Decatur, Illinois manufacturing facility. Other factors besides
those listed there could also adversely affect our results.
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