Akorn, Inc. and Strides Arcolab Limited Agree to Expand the Akorn-Strides, LLC Joint Venture Product Pipeline to Twenty-Nine AND

  
    
  
  
    
      Akorn, Inc. (AMEX: AKN) and Strides Arcolab Limited (NSE: STAR, BSE: 
      532531) today announced that both Companies have agreed to fund, 
      develop, and commercialize an additional 10 ANDA injectable drug 
      products for the Akorn-Strides, LLC Joint Venture. Akorn and Strides 
      created and funded the Joint Venture in 2005 and since that time have 
      developed and submitted 15 ANDA’s. Prior to 
      year end, the Joint Venture expects to submit an additional 2 ANDA’s 
      for a total of 17 ANDA’s filed in 2006. The 
      Joint Venture is developing liquid, lyophilized and dry powder fill 
      generic injectable products targeting several therapeutic markets with a 
      major focus on anti-infectives, analgesics and CNS medicines.
    
    
      The additional funding provided to the Joint Venture will expand the 
      Akorn-Strides, LLC to 29 ANDA’s for a total 
      of 53 SKU’s, or product line offerings. The 
      Joint Venture expects to generate revenues in 2007 based on initial 
      product approvals and subsequent product launches.
    
    
      Arthur S. Przybyl, President and CEO of Akorn and Member Manager of 
      Akorn-Strides, LLC stated, “We are pleased 
      with the progress of the Joint Venture since its inception. Strides 
      Arcolab has demonstrated on-time execution in developing ANDA injectable 
      drug products for the Joint Venture. Akorn has been filing regulatory 
      submissions for the Joint Venture at a rate of approximately two per 
      month. It stands to reason that expanding the Joint Venture product 
      portfolio will only help to generate greater revenues and market 
      presence.”
    
    
      Arun Kumar, Executive Vice Chairman and Managing Director of Strides and 
      Member Manager of Akorn-Strides, LLC stated, “We 
      are delighted to expand the pipeline of products to 29 in our Joint 
      Venture with Akorn and we are confident that the Joint Venture will 
      emerge as a significant provider of quality sterile products in the 
      North American region.”
    
    
      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 Strides Arcolab Limited
    
    
      Strides, listed on the Bombay Stock Exchange Limited (532531) and 
      National Stock Exchange of India Limited (STAR), is one of India’s 
      largest exporters of branded generic pharmaceutical products. Strides 
      manufactures pharmaceuticals formulations in various dosage forms, 
      including capsules, tablets, liquid injectables and is one of the world’s 
      top five manufacturers of softgel capsules. Strides also has the only 
      globally dedicated softgel facility for hormones. In addition, Strides 
      undertakes contract research and the manufacturing of specialty 
      chemicals for various multinational companies. Strides has a major 
      presence in various developing countries such as Africa, Latin America 
      and Asia as well as in developed markets such as the U.S., Canada and 
      part of Europe. Strides is one of the largest Indian supplier of 
      institutionally funded aid projects and is an approved supplier to the 
      Global Drug Facility, UNICEF, and MSF amongst others.
    
    
      Strides has 14 manufacturing plants spread across the U.S., Brazil, 
      Mexico, Italy, Poland, Singapore and India. This broad manufacturing 
      network facilitates partnering with global organizations ranging from 
      UNICEF and WHO-Global Drug Facility to European and American 
      pharmaceutical multinationals, private labelers and distribution chains. 
      Strides has product registrations in over 37 countries around the world 
      and has earned ISO 9001, ISO 14001 and GMP accreditations including 
      USFDA. Strides employs approximately 1,700 people across the globe. 
      Strides also has a marketing presence in over 50 countries.
    
    
      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 future events. You can identify 
      these statements by the fact that they do not relate strictly to 
      historical or current facts. They use words such as "anticipate," 
      "estimate," "expect," "project," "intend," "plan," "believe," and other 
      words and terms of similar meaning in connection with a discussion of 
      future operating or financial performance. In particular, these include 
      statements relating to future steps we may take, prospective products, 
      future performance or results of current and anticipated products, sales 
      efforts, expenses, the outcome of contingencies such as legal 
      proceedings, and financial results.
    
    
      Any or all of our forward-looking statements here or in other 
      publications may turn out to be wrong. They can be affected by 
      inaccurate assumptions or by known or unknown risks and uncertainties. 
      Many such factors will be important in determining our actual future 
      results. Consequently, no forward-looking statement can be guaranteed. 
      Our actual results may vary materially, and there are not guarantees 
      about the performance of our stock.
    
    
      Any forward-looking statements represent our expectations or forecasts 
      only as of the date they were made and should not be relied upon as 
      representing our expectations or forecasts as of any subsequent date. We 
      undertake no obligation to correct or update any forward-looking 
      statements, whether as a result of new information, future events or 
      otherwise, even if our expectations or forecasts change. You are 
      advised, however, to consult any further disclosures 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. Other factors besides 
      those listed there could also adversely affect our results.
    
  
Akorn, Inc. (AMEX: AKN) and Strides Arcolab Limited (NSE: STAR,
BSE: 532531) today announced that both Companies have agreed to fund,
develop, and commercialize an additional 10 ANDA injectable drug
products for the Akorn-Strides, LLC Joint Venture. Akorn and Strides
created and funded the Joint Venture in 2005 and since that time have
developed and submitted 15 ANDA's. Prior to year end, the Joint
Venture expects to submit an additional 2 ANDA's for a total of 17
ANDA's filed in 2006. The Joint Venture is developing liquid,
lyophilized and dry powder fill generic injectable products targeting
several therapeutic markets with a major focus on anti-infectives,
analgesics and CNS medicines.

   The additional funding provided to the Joint Venture will expand
the Akorn-Strides, LLC to 29 ANDA's for a total of 53 SKU's, or
product line offerings. The Joint Venture expects to generate revenues
in 2007 based on initial product approvals and subsequent product
launches.

   Arthur S. Przybyl, President and CEO of Akorn and Member Manager
of Akorn-Strides, LLC stated, "We are pleased with the progress of the
Joint Venture since its inception. Strides Arcolab has demonstrated
on-time execution in developing ANDA injectable drug products for the
Joint Venture. Akorn has been filing regulatory submissions for the
Joint Venture at a rate of approximately two per month. It stands to
reason that expanding the Joint Venture product portfolio will only
help to generate greater revenues and market presence."

   Arun Kumar, Executive Vice Chairman and Managing Director of
Strides and Member Manager of Akorn-Strides, LLC stated, "We are
delighted to expand the pipeline of products to 29 in our Joint
Venture with Akorn and we are confident that the Joint Venture will
emerge as a significant provider of quality sterile products in the
North American region."

   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 Strides Arcolab Limited

   Strides, listed on the Bombay Stock Exchange Limited (532531) and
National Stock Exchange of India Limited (STAR), is one of India's
largest exporters of branded generic pharmaceutical products. Strides
manufactures pharmaceuticals formulations in various dosage forms,
including capsules, tablets, liquid injectables and is one of the
world's top five manufacturers of softgel capsules. Strides also has
the only globally dedicated softgel facility for hormones. In
addition, Strides undertakes contract research and the manufacturing
of specialty chemicals for various multinational companies. Strides
has a major presence in various developing countries such as Africa,
Latin America and Asia as well as in developed markets such as the
U.S., Canada and part of Europe. Strides is one of the largest Indian
supplier of institutionally funded aid projects and is an approved
supplier to the Global Drug Facility, UNICEF, and MSF amongst others.

   Strides has 14 manufacturing plants spread across the U.S.,
Brazil, Mexico, Italy, Poland, Singapore and India. This broad
manufacturing network facilitates partnering with global organizations
ranging from UNICEF and WHO-Global Drug Facility to European and
American pharmaceutical multinationals, private labelers and
distribution chains. Strides has product registrations in over 37
countries around the world and has earned ISO 9001, ISO 14001 and GMP
accreditations including USFDA. Strides employs approximately 1,700
people across the globe. Strides also has a marketing presence in over
50 countries.

   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
future events. You can identify these statements by the fact that they
do not relate strictly to historical or current facts. They use words
such as "anticipate," "estimate," "expect," "project," "intend,"
"plan," "believe," and other words and terms of similar meaning in
connection with a discussion of future operating or financial
performance. In particular, these include statements relating to
future steps we may take, prospective products, future performance or
results of current and anticipated products, sales efforts, expenses,
the outcome of contingencies such as legal proceedings, and financial
results.

   Any or all of our forward-looking statements here or in other
publications may turn out to be wrong. They can be affected by
inaccurate assumptions or by known or unknown risks and uncertainties.
Many such factors will be important in determining our actual future
results. Consequently, no forward-looking statement can be guaranteed.
Our actual results may vary materially, and there are not guarantees
about the performance of our stock.

   Any forward-looking statements represent our expectations or
forecasts only as of the date they were made and should not be relied
upon as representing our expectations or forecasts as of any
subsequent date. We undertake no obligation to correct or update any
forward-looking statements, whether as a result of new information,
future events or otherwise, even if our expectations or forecasts
change. You are advised, however, to consult any further disclosures
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. Other factors besides those listed there could
also adversely affect our results.