Akorn, Inc. Signs Exclusive Development and Supply Agreement with Haemonetics Corporation for...

BUFFALO GROVE, Ill. -- Akorn, Inc. (NASDAQ: AKRX) today announced that it has signed an exclusive development and supply agreement with Haemonetics Corporation (NYSE: HAE) for three premix products. Premix medications are ready to use intravenous drug products which eliminate compounding steps in

Under the terms of the agreement, Akorn will be responsible for development, marketing and distribution. Haemonetics will manufacture the three products at its intravenous solutions manufacturing facility in Union, SC. The products are all expected to launch between 2010 and 2011, and represent a current total U.S. market size of approximately $500 million. One of the products will represent a new to market offering while the other two products will be filed as ANDAs. Akorn will own the ANDAs. Financial terms of the agreement were not disclosed.

Arthur S. Przybyl, Akorn's President and Chief Executive Officer, stated, "The addition of the premix platform to Akorn's injectable portfolio is an important step in our company's history. We look forward to partnering with Haemonetics which has a proven track record of supplying high quality premix products to the hospital and alternate site markets."

Bob Pike, Haemonetics Vice-President of New Product Development stated, "This is a great opportunity for our Solutions Contract Manufacturing business. We are excited to support the expansion of the Akorn portfolio by manufacturing their premix injectable 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.

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