Akorn Announces New Management Appointments

LAKE FOREST, Ill.–(BUSINESS WIRE)–

Akorn, Inc. (AKRX), a niche generic pharmaceutical company,
today announced the appointment of Bruce Kutinsky as its Chief Operating
Officer of its US operations effective September 1, 2012. Mr. Kutinsky
was most recently the President of Akorn’s consumer health business. Mr.
Kutinsky joined Akorn in late 2009 as Senior Vice President of Corporate
Strategy and was named President, Consumer Health Division following the
Company’s acquisition of Advanced Vision Research, Inc. in May 2011.
Before joining Akorn, Mr. Kutinsky was Vice President – Strategic
Solutions for Walgreen Co. Prior to that, Mr. Kutinsky served in various
roles at Option Care, Inc. from 1997 to 2007, including the position of
Chief Operating Officer from 2001 to 2003. Mr. Kutinsky holds a
Doctorate of Pharmacy from the University of Michigan.

The company also announced the appointment of Dinesh Dua as the Chief
Executive Officer and Managing Director of its Indian subsidiary, Akorn
India Pvt. Ltd. (“AIPL”). Prior to joining AIPL, Mr. Dua was the Chief
Executive Officer and Director of Nectar Lifesciences Ltd. Mr. Dua has
over 30 years professional experience, predominately in the Indian
pharmaceutical industry. He has held several senior management positions
in companies like Zydus Cadila, Wockhardt and Jubilant Organosys. Mr.
Dua holds a Masters in Business Management from the Indian
Institute of Management, Ahmedabad, India.

Raj Rai, Chief Executive Officer, commented, “I would like to welcome
Dinesh to the management team and look forward to his contributions to
the India operations to expand our presence globally. Given their
backgrounds, I am confident that both Bruce and Dinesh will provide
excellent leadership to each operation while allowing me to focus on
strategy and new business development. I look forward to working with
them.”

About Akorn, Inc.

Akorn, Inc. is a niche pharmaceutical company engaged in the
development, manufacture and marketing of multisource and branded
pharmaceuticals. Akorn has manufacturing facilities located in Decatur,
Illinois, Somerset, New Jersey and Paonta Sahib, India where the Company
manufactures ophthalmic and injectable pharmaceuticals. Additional
information is available on the Company’s website at www.akorn.com.

Forward Looking Statement

This press release includes statements that may constitute
“forward-looking statements”, including projections of certain measures
of Akorn’s results of operations, projections of certain charges and
expenses, and other statements regarding Akorn’s goals, regulatory
approvals and strategy. Akorn cautions that these forward-looking
statements are subject to risks and uncertainties that may cause actual
results to differ materially from those indicated in the forward-looking
statements. These statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Because such statements inherently involve risks and uncertainties,
actual future results may differ materially from those expressed or
implied by such forward-looking statements. 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. Factors that could cause or
contribute to such differences include, but are not limited to:
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. These cautionary statements should
be considered in connection with any subsequent written or oral
forward-looking statements that may be made by the company or by persons
acting on its behalf and in conjunction with its periodic SEC filings.
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.

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