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Bankruptcy Court Gives Green Light To Akorn Sale

Akorn “Working To Finalize Deal” With Existing Lenders

 
• By Dean Rudge

Just three years after Fresenius Kabi agreed a $4.75bn takeover of the US injectables specialist, Akorn has obtained approval from a US bankruptcy court for its sale to the company’s existing lenders, having filed for Chapter 11 bankruptcy earlier this year.

Gavel_Bankruptcy
Akorn filed for Chapter 11 bankrupty protection earlier this year • Source: Shutterstock

The US Bankruptcy Court for the District of Delaware has approved Akorn’s sale to the company’s existing lenders, representing a “critical milestone that will allow us to move beyond this process under a new ownership structure in the coming weeks,” according to CEO Doug Boothe.

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