Akorn, Inc.’s joint venture, Akorn-Strides LLC, has entered into a purchase agreement with Pfizer to sell 16 ANDAs and six filed ANDAs. Akorn, Inc. will receive $35 million in cash and Akorn-Strides will continue to manufacture and distribute the approved products until April 30, 2011. In 3Q10, Akorn recognized $1.9 million in revenue as a result of the Akorn-Strides joint venture. Raj Rai, Akorn’s chief executive officer, said, “This is a positive outcome for Akorn as the proceeds from the s...