Apr 25, 2017

Fresenius buying Akorn for $4.3 billion

Bob Herman

Michael Probst / AP

Fresenius Kabi, a U.S. subsidiary of German health care giant Fresenius SE & Co., is acquiring generic pharmaceutical company Akorn for $4.3 billion. However, Fresenius included a stipulation in the merger agreement that would allow it to back out of the deal if Akorn's generics business materially deteriorates.

Largest shareholder backs it: John Kapoor, an Akorn board member and former Insys Therapeutics CEO who owns 25% of the company, has "committed to supporting the transaction," which bodes well for the deal closing early next year. Kapoor would bank more than $1 billion alone if the deal closes.

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  1. Global: Total confirmed cases as of 10 p.m. ET: 1,202,236 — Total deaths: 64,703 — Total recoveries: 246,198 — Map.
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Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

Recorded deaths from the coronavirus surpassed 8,400 in the U.S. on Saturday, per Johns Hopkins data. The death toll in the U.S. has risen over 1,000 every day for the past four days, since April 1.

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