Akorn Announces Funding Approval For Calcium-DTPA and Zinc-DTPA

BUFFALO GROVE, Ill. - Akorn, Inc. today announced that it has received funding approval from the United States Government for the procurement of Ca-DTPA and Zn-DTPA. Total funding of approximately $21.5 million was officially authorized by the Department of Health and Human Services on February 9, 2006.The awarded quantities represent a combined total of 450,000 units of Ca-DTPA and Zn-DTPA. The value of the contract is approximately $21.5 million, and Akorn will deliver the entire 450,000 units to the United States Government in the first quarter of 2006. Akorn licensed Ca-DTPA and Zn-DTPA from Hameln Pharmaceuticals gmbh in October 2004.Arthur S. Przybyl, President and Chief Executive Officer stated, "With the cooperation of the Departments of Homeland Security and Health and Human Services, we achieved our objective: to provide and supply effective countermeasures to protect the United States civilian population in the event of a radiological or nuclear event. Funding for this award was allocated under Project BioShield. Akorn intends to continue to work with both Agencies to stockpile additional quantities of both Ca-DTPA and Zn-DTPA, in order to meet U.S. Government requirements."About Akorn, Inc.Akorn, Inc. manufactures and markets sterile specialty pharmaceuticals. Akorn has manufacturing facilities located in Decatur, Illinois and Somerset, New Jersey and markets and distributes an extensive line of hospital and ophthalmic pharmaceuticals. Additional information is available at the Company's website at www.akorn.com.Materials in this press release may contain information that includes or is based upon forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Forward-looking statements give our expectations or forecasts of future events. You canentify 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. In particular, these include 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.Any or all of our forward-looking statements here or in other publications may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining our actual future results. Consequently, no forward-looking statement can be guaranteed. Our actual results may vary materially, and there are not guarantees about the performance of our stock.Any forward-looking statements represent our expectations or forecasts only as of the date they were made and should not be relied upon as representing our expectations or forecasts as of any subsequent date. We undertake no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise, even if our expectations or forecasts change. 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.Contact:Akorn, Inc.Arthur S. PrzybylPhone: (847) 279-6100Source: Akorn, Inc.