-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CqZM5yC8rDyWAjkJyzS5qaqi89IiaizhTUq91kL8CF1UWxVtZ8KmNUCo+WA54z06 c7uY75Yzwp/avYR51dpp8A== 0001157523-10-002589.txt : 20100430 0001157523-10-002589.hdr.sgml : 20100430 20100430172618 ACCESSION NUMBER: 0001157523-10-002589 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100426 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100430 DATE AS OF CHANGE: 20100430 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AKORN INC CENTRAL INDEX KEY: 0000003116 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 720717400 STATE OF INCORPORATION: LA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32360 FILM NUMBER: 10788991 BUSINESS ADDRESS: STREET 1: 1925 W. FIELD COURT, SUITE 300 CITY: LAKE FOREST STATE: IL ZIP: 60045 BUSINESS PHONE: 8472796100 MAIL ADDRESS: STREET 1: 1925 W. FIELD COURT, SUITE 300 CITY: LAKE FOREST STATE: IL ZIP: 60045 8-K 1 a6273041.htm AKORN, INC. 8-K


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934


Date of Report (Date of earliest event reported): April 26, 2010

Akorn, Inc.
(Exact Name of Registrant as Specified in Charter)

Louisiana

 

001-32360

 

72-0717400

(State or Other
Jurisdiction of
Incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification Number)

1925 West Field Court, Suite 300
Lake Forest, IL

 

60045

(Address of Principal Executive Offices)

(Zip Code)


Registrant’s telephone number, including area code:

(847) 279-6100

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers.

On April 30, 2010, Akorn, Inc. (the “Company”) issued a press release announcing that two current directors of the Company will not be standing for re-election at the annual meeting of shareholders on May 21, 2010.

On April 26, 2010, Jerry N. Ellis notified the Company that he will not seek re-election to the board of directors at the annual meeting of shareholders on May 21, 2010.  Mr. Ellis informed the Company that he will continue to serve as a director until that date.

On April 27, 2010, Randall J. Wall notified the Company that he will not seek re-election to the board of directors at the annual meeting of shareholders on May 21, 2010.  Mr. Wall informed the Company that he will continue to serve as a director until that date.

Item 9.01  Financial Statements and Exhibits.

  (d) Exhibits.
 
99.1

Press release issued by Akorn, Inc., dated April 30, 2010, announcing the upcoming departure of two directors of the Company, Jerry N. Ellis and Randall J. Wall, effective May 21, 2010.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

AKORN, INC.

 

Date:

April 30, 2010

By:

/s/ Timothy A. Dick

Timothy A. Dick

Sr. Vice President, Chief Financial Officer

EX-99.1 2 a6273041ex991.htm EXHIBIT 99.1

Exhibit 99.1

Akorn Announces Changes to the Company’s Board of Directors

LAKE FOREST, Ill.--(BUSINESS WIRE)--April 30, 2010--Akorn, Inc. (NASDAQ: AKRX) a niche generic pharmaceutical company, today announced that two members of the Company’s Board of Directors, Jerry N. Ellis and Randy J. Wall, have notified the Company that they do not intend to seek re-election at the annual meeting of shareholders on May 21, 2010. They will continue to serve as directors until that date.

The Company’s Board of Directors has nominated Kenneth S. Abramowitz to the Board. Mr. Abramowitz is a co-founder and Managing General Partner of NGN Capital. He joined NGN Capital from The Carlyle Group in New York where he was Managing Director from 2001 to 2003, focused on U.S. buyout opportunities in the healthcare industry. Prior to that, Mr. Abramowitz worked as an Analyst at Sanford C. Bernstein & Company where he covered the medical supply, hospital management and Health Maintenance Organization (HMO) industries for 23 years. Mr. Abramowitz earned a B.A. from Columbia University in 1972 and an M.B.A. from Harvard Business School in 1976. Mr. Abramowitz currently sits on the Board of Directors of EKOS Corporation, OptiScan Biomedical Corporation, MultiPlan Acquisition Holdings, Cerapedics, Inc., Valtech Cardio and Small Bone Innovations, Inc. He previously served as a Director at Option Care, Inc., Sightline Technologies Ltd and Power Medical Interventions, as well as MedPointe and ConnectiCare Holdings, Inc.

Dr. John N. Kapoor, Chairman of Akorn, commented, “I would like to thank both Jerry and Randy for their contributions. We are pleased with Ken’s nomination to the Board of Directors. With his credentials and background, we believe Ken will be a great addition to Akorn’s board and look forward to his contributions.”

About Akorn, Inc.

Akorn, Inc. is a niche pharmaceutical company engaged in the development, manufacture and marketing of multisource and branded pharmaceuticals. Akorn has manufacturing facilities located in Decatur, Illinois and Somerset, New Jersey where the Company manufactures ophthalmic and injectable pharmaceuticals. Additional information is available on the Company’s website at www.akorn.com.

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:

To the extent any statements made in this news release contain information that is not historical; these statements are forward-looking in nature and express the beliefs and expectations of management. Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the Company’s future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to; ability to timely file periodic reports required by the Exchange Act; ability to maintain an effective system of internal control over financial reporting; ability to sustain profitability and positive cash flows; ability to maintain sufficient capital to fund operations; ability to successfully develop and commercialize pharmaceutical products; the impact of competitive products and pricing; the difficulty of predicting Food and Drug Administration filings and approvals; reliance on key alliance agreements; the availability of raw materials; the regulatory environment; exposure to product liability claims; fluctuations in operating results and other risks described in our Annual Report on Form 10-K for the year ended December 31, 2009. Forward-looking statements speak only as to the date on which they are made, and Akorn Inc. undertakes no obligation to update publicly or revise any forward-looking statement, regardless of whether new information becomes available, future developments occur or otherwise.

CONTACT:
Akorn, Inc.
Tim Dick, Chief Financial Officer
(847) 279-6100

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