Supplier News Breaks Archives
Akorn acquires Betimol from Santen
January 13th, 2014
LAKE FOREST, Ill. – Akorn Inc. has acquired the New Drug Application and all rights to eye medication Betimol from Japan-based Santen.
Akorn said it plans to begin shipping Betimol (timolol ophthalmic solution), available in concentrations of 0.25% and 0.5%, during the first quarter of 2014.
A prescription eye drop medicine, Betimol is used to reduce pressure inside the eye in patients with ocular hypertension or open-angle glaucoma.
"We are excited to add Betimol to our portfolio of branded ophthalmic products," commented Raj Rai, chief executive officer of Akorn, a niche pharmaceutical company that develops, makes and markets branded and multisource drugs. "This acquisition further enhances our platform and growth opportunities in 2014.”
Akorn added that the transaction is expected to add revenue of $8 million to $9 million in 2014 and 3 cents to 4 cents of adjusted net income per diluted share.