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Akorn Files for Chapter 11

Upon approval of the Bankruptcy Court, financing will provide funding for the continuation of business operations and expenses during the Chapter 11 cases.

By: Contract Pharma

Contract Pharma Staff

Akorn, Inc., a specialty pharmaceutical company, has filed for Chapter 11 of the U.S. Bankruptcy Code to execute an in‑court sale of its business and address litigation-related overhangs to best position the business for success under new ownership. In connection with the filing, the Company has executed a Restructuring Support Agreement with lenders representing more than 75% of its debt, who will collectively serve as a “stalking horse” bidder in the Company’s sale process an...

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