Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Akorn Inc. -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (83)	12/29/1999 9:13:00 AM
From: scaram(o)uche	Read Replies (2) \| Respond to of 101

Wednesday December 29, 8:45 am Eastern Time Company Press Release SOURCE: Akorn, Inc. Akorn, Inc. Announces $45 Million Credit Line Arrangement BUFFALO GROVE, Ill., Dec. 29 /PRNewswire/ -- Akorn, Inc. (Nasdaq: AKRN - news) announced today that it has executed an agreement increasing its revolving line of credit arrangement from $25 million to $45 million with lead bank The Northern Trust Company, Chicago, Illinois. Bank of America has joined with Northern Trust and National City Bank in providing the increased funding. The line will be used to finance acquisitions as well as for general corporate purposes. Rita McConville, Vice President and Chief Financial Officer, stated, ''Akorn's results support the expanded line. The Company's cash flows have been increasing steadily. The additional resources will provide us with greater operating flexibility as well as immediately available funds for acquisitions.'' Akorn, Inc. manufactures and markets sterile specialty pharmaceuticals, and markets and distributes an extensive line of pharmaceuticals and ophthalmic products including surgical instruments, surgical supplies and related products. The information contained in this news release, other than historical information, consists of forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such statements regarding the timing of acquiring and developing new products, of bringing them on line and of deriving revenues and profits from them, as well as the effects of those revenues and profits on the company's margins and financial position, is uncertain because many of the factors affecting the timing of those items are beyond the company's control. SOURCE: Akorn, Inc.