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

To: Troy Suarez, Ph.D. who wrote (37)	7/16/1998 1:11:00 PM
From: Troy Suarez, Ph.D.	Read Replies (3) \| Respond to of 101

Akorn Announces Expanded Credit Line Arrangement; Will Provide Greater Flexibility for Acquisition Opportunities BusinessWire, Thursday, July 16, 1998 at 09:00 LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--July 16, 1998--Akorn Inc.(NASDAQ:AKRN) today announced that it has executed an agreement increasing its revolving line of credit arrangement from $15 to $25 million with lead bank The Northern Trust Company, Chicago. 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 additional resources will provide for expanded flexibility in our acquisition program." Akorn Inc. manufactures and markets sterile ophthalmic and injectable pharmaceuticals, and markets and distributes an extensive line of ophthalmic products. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results as a result of certain risks and uncertainties, including but not limited to the effects of federal, state and other governmental regulation of the company's business; the company's success in acquiring, developing, manufacturing and marketing new products; the effects of competition from generic pharmaceutical and other pharmaceutical companies; and other risks and uncertainties identified in the company's Securities and Exchange Commission Filings. This release is available on the KCSA Worldwide Public Relations Website at www.kcsa.com. CONTACT: Akorn Inc., Lincolnshire Rita McConville, 847/236-3851 or KCSA Worldwide Paul Holm/Joseph A. Mansi 212/682-6300, ext. 201/205 KEYWORD: ILLINOIS INDUSTRY KEYWORD: PHARMACEUTICAL MEDICINE BIOTECHNOLOGY