Akorn, Inc: Business Is In Distress [Seeking Alpha]
AKORN (AKRX)
Last akorn earnings: 10/31 07:00 am
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US:NASDAQ Investor Relations:
investors.akorn.com
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Source: Seeking Alpha
Summary Akorn, Inc. ( AKRX ) develops, manufactures, and markets prescription and generic drugs. The prescription business makes up about 90% of revenues. AKRX's stock price hints about the drama the company has been embroiled in, as the firm agreed to be acquired by German pharmaceutical company Fresenius ( OTCQX:FSNUF ) during 2017 before Fresenius reneged on the deal: AKRX data by YCharts In response to Fresenius' backing out of the acquisition, AKRX brought suit seeking a court order forcing Fresenius to fulfill its end of the contractual obligation to purchase AKRX for $34 per share in cash. The Court ruled against AKRX. The company has gone on to submit an appeal of the previous Court's June verdict which released Fresenius from its purchasing obligation. So, the merger is looking fairly unlikely and there's no harm in accounting for it as a possible bonus to a long position. Excluding the potential bailout for AKRX shareholders from the rest of this
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