Safety First Trust Principal-Protected Trust Certificates Linked TO A U.S.-Europe-Japan Basket Structured Product (AMEX:AKN)
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Akorn, Inc. (AMEX:AKN) today announced that it has
signed a Definitive Commercial Manufacturing Supply Agreement with
Advanced Vision Research Inc. (AVR) for the product, TheraTears(R)
lubricant eye drops. Akorn and Advanced Vision Research had previously
announced the signing of a Term Sheet for the manufacture of
TheraTears(R) on June 6, 2006. TheraTears(R) is a market leading
over-the-counter ophthalmic solution for the treatment of dry eyes,
and has recently been named by Drug Store News as the leading niche
product in the eye care category.
The Commercial Manufacturing Supply Agreement provides for Akorn
to manufacture and supply Advanced Vision Research with TheraTears(R)
for seven years. TheraTears will be manufactured in Akorn's Decatur,
IL facility. Akorn and Advanced Vision Research anticipate initiating
dialogue on additional new contract development and manufacturing
opportunities in AVR's active product pipeline.
Arthur S. Przybyl, Akorn's President and Chief Executive Officer
stated, "Akorn is committed to expanding its Contract Development and
Manufacturing services business. I want to thank Advanced Vision
Research for choosing Akorn to manufacture TheraTears(R). We expect to
begin supplying TheraTears(R) to Advanced Vision Research in the
fourth quarter of 2006."
Advanced Vision Research President Jeffrey P. Gilbard, M.D.
stated, "We are pleased to be moving forward with the manufacture of
TheraTears at Akorn's Decatur facility. The responsiveness of the
Akorn team is proving very helpful to us given the explosive demand
for our products."
About Akorn, Inc.
Akorn, Inc. manufactures and markets sterile specialty
pharmaceuticals. Akorn has manufacturing facilities located in
Decatur, Illinois and Somerset, New Jersey and markets and distributes
an extensive line of hospital and ophthalmic pharmaceuticals.
Additional information is available at the Company's website at
www.akorn.com.
About Advanced Vision Research, Inc.
Advanced Vision Research, with offices in Woburn, Massachusetts,
develops and markets innovative pharmaceuticals for dry eye and
external eye diseases under the TheraTears(R) brand. The TheraTears(R)
line of products include TheraTears(R) preservative free,
TheraTears(R) in a bottle, TheraTears Liquid Gel, TheraTears(R)
Contact Lens Comfort Drops, TheraTears Nutrition (omega-3 supplement
for dry eyes), and TheraTears(R) brand SteriLid Eyelid Cleanser.
Additional information is available at the Company's website at
www.theratears.com.
Materials in this press release may contain information that
includes or is based upon forward-looking statements within the
meaning of the Securities Litigation Reform Act of 1995.
Forward-looking statements give our expectations or forecasts of
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the outcome of contingencies such as legal proceedings, and financial
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we make on related subjects in our reports filed with the SEC. In
particular, you should read the discussion in the section entitled
"Cautionary Statement Regarding Forward-Looking Statements" in our
most recent Annual Report on Form 10-K, as it may be updated in
subsequent reports filed with the SEC. That discussion covers certain
risks, uncertainties and possibly inaccurate assumptions that could
cause our actual results to differ materially from expected and
historical results. Such factors include, but are not limited to,
risks and uncertainties relating to the resolution of the FDA
compliance issues at our Decatur, Illinois manufacturing facility.
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