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Akorn Offloads Consumer Health For $230m

All-Cash Deal Allows Beleaguered Firm To Invest In Optimizing Prescription Business

 
• By Dave Wallace

Akorn has announced a $230m all-cash deal to divest its consumer healthcare business to Prestige Consumer Healthcare. The transaction will allow Akorn – which recently went through bankruptcy proceedings – to invest in optimizing its prescription business.

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Akorn has struck a $230m deal for its consumer healthcare business • Source: Alamy

Akorn has struck a deal to divest its consumer healthcare business to Prestige Consumer Healthcare for $230m in cash. The company said the transaction – which is expected to close in the third quarter of 2021 – would allow it to invest in optimizing its prescription business.

Earlier this year, the company had revealed that after exiting Chapter 11 bankruptcy protection – following a sale to its lenders in the wake of a collapsed $4.75bn takeover bid from Fresenius Kabi (Also see "Bankruptcy Court Gives Green Light To Akorn Sale" - Generics Bulletin, 23 September, 2020

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