Akorn exited Chapter 11 bankruptcy in 2020
In October 2020, Akorn Pharmaceuticals, a generic drug manufacturer, exited the Chapter 11 bankruptcy protection it had been in for five months following warnings from the FDA and a failed buyout before the decreased revenues of 2020. After resolving the FDA's concerns and being bought out by the lenders, Akorn Operating Company now intends to return to selling generic pharmaceuticals with streamlined operations.
Structural|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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