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Akorn, Inc. (AMEX:AKN) today announced that it has signed a definitive exclusive development and supply agreement to develop and commercialize an ANDA drug product. Sofgen Pharmaceuticals is a privately held pharmaceutical company located in Sunrise, Florida. Sofgen is responsible for the formulation and development of the drug, the manufacture of clinical product batches, and the documentation necessary to support the Chemistry, Manufacturing and Control (CMC) section of an ANDA to be filed by Akorn. Upon regulatory approval Sofgen will supply finished dosage form product to Akorn. Akorn will fund and is responsible for the pivotal bio study, filing the ANDA and upon regulatory approval, the marketing, distribution and sales of the drug. Akorn will own the ANDA and has exclusive marketing rights in the United States and Canada. The drug is indicated for the treatment of nausea and vomiting associated with cancer chemotherapy. The drug is also indicated for anorexia in patients associated with weight loss related to AIDS. The current market size of the drug is approximately $125 million. Akorn is forecasting product launch of the drug to occur in 2008. Arthur S. Przybyl, Akorn's President and Chief Executive Officer stated, "This agreement highlights several Akorn strategies. The drug is a specialty type niche pharmaceutical, with no current generic competitors and compliments our strategies in AIDS and cancer drug products. Drug products for these markets are being developed internally and externally through our business partners, Fidia, Natco and Serum. We are excited to join forces with Sofgen Pharmaceuticals." Ruben Minski, Sofgen's President and Chief Executive Officer stated, "Our Company is infused with a strong belief in the growing need for precisely the sort of generic drugs and advance delivery technologies like the one we are partnering with Akorn. The trends are clearly in our favor, with our development and manufacturing capabilities and Akorn marketing expertise, we are heading for success." 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. About Sofgen Pharmaceuticals Sofgen is part of an Industrial Conglomerate with strong emphasis in the Healthcare and related businesses, including soft gelatin manufacturing facilities in South America and a Pharmaceutical Division with a distribution network that reaches 27 different countries around the globe. 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 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. 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. 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