Here's Why Akorn Stock Rose as Much as 14.4% Today [The Motley Fool]
AKORN (AKRX)
Last akorn earnings: 10/31 07:00 am
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Source: The Motley Fool
Here's Why Akorn Stock Rose as Much as 14.4% Today The embattled generic-pharmaceutical manufacturer earned two new product approvals. Shares of Akorn ( NASDAQ:AKRX ) jumped over 14% on Monday after the company announced multiple regulatory approvals. The specialty generic-pharmaceutical leader said Abbreviated New Drug Applications (ANDAs) have been accepted by the U.S. Food and Drug Administration for its fluticasone propionate nasal spray and loteprednol etabonate ophthalmic suspension. The former is a common allergy medication sold under brand names such as Flonase. The latter is used to treat eye redness, itching, and watering, and is sold under brand names like Alrex and Lotemax. Akorn can now sell identical formulations under its own generic brands and begin capturing market share for each. As of 12:23 p.m. EDT, the stock had settled to a 8.7% gain. Considering the recent turbulence at Akorn , earning marketing approvals is key to growing revenue (which has fallen each year si
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