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Akorn, Inc. (AMEX: AKN) and Strides Arcolab Limited (NSE: STAR, BSE: 532531) today announced that both Companies have agreed to fund, develop, and commercialize an additional 10 ANDA injectable drug products for the Akorn-Strides, LLC Joint Venture. Akorn and Strides created and funded the Joint Venture in 2005 and since that time have developed and submitted 15 ANDA�s. Prior to year end, the Joint Venture expects to submit an additional 2 ANDA�s for a total of 17 ANDA�s filed in 2006. The Joint Venture is developing liquid, lyophilized and dry powder fill generic injectable products targeting several therapeutic markets with a major focus on anti-infectives, analgesics and CNS medicines. The additional funding provided to the Joint Venture will expand the Akorn-Strides, LLC to 29 ANDA�s for a total of 53 SKU�s, or product line offerings. The Joint Venture expects to generate revenues in 2007 based on initial product approvals and subsequent product launches. Arthur S. Przybyl, President and CEO of Akorn and Member Manager of Akorn-Strides, LLC stated, �We are pleased with the progress of the Joint Venture since its inception. Strides Arcolab has demonstrated on-time execution in developing ANDA injectable drug products for the Joint Venture. Akorn has been filing regulatory submissions for the Joint Venture at a rate of approximately two per month. It stands to reason that expanding the Joint Venture product portfolio will only help to generate greater revenues and market presence.� Arun Kumar, Executive Vice Chairman and Managing Director of Strides and Member Manager of Akorn-Strides, LLC stated, �We are delighted to expand the pipeline of products to 29 in our Joint Venture with Akorn and we are confident that the Joint Venture will emerge as a significant provider of quality sterile products in the North American region.� 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 Strides Arcolab Limited Strides, listed on the Bombay Stock Exchange Limited (532531) and National Stock Exchange of India Limited (STAR), is one of India�s largest exporters of branded generic pharmaceutical products. Strides manufactures pharmaceuticals formulations in various dosage forms, including capsules, tablets, liquid injectables and is one of the world�s top five manufacturers of softgel capsules. Strides also has the only globally dedicated softgel facility for hormones. In addition, Strides undertakes contract research and the manufacturing of specialty chemicals for various multinational companies. Strides has a major presence in various developing countries such as Africa, Latin America and Asia as well as in developed markets such as the U.S., Canada and part of Europe. Strides is one of the largest Indian supplier of institutionally funded aid projects and is an approved supplier to the Global Drug Facility, UNICEF, and MSF amongst others. Strides has 14 manufacturing plants spread across the U.S., Brazil, Mexico, Italy, Poland, Singapore and India. This broad manufacturing network facilitates partnering with global organizations ranging from UNICEF and WHO-Global Drug Facility to European and American pharmaceutical multinationals, private labelers and distribution chains. Strides has product registrations in over 37 countries around the world and has earned ISO 9001, ISO 14001 and GMP accreditations including USFDA. Strides employs approximately 1,700 people across the globe. Strides also has a marketing presence in over 50 countries. 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. 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. Akorn, Inc. (AMEX: AKN) and Strides Arcolab Limited (NSE: STAR, BSE: 532531) today announced that both Companies have agreed to fund, develop, and commercialize an additional 10 ANDA injectable drug products for the Akorn-Strides, LLC Joint Venture. Akorn and Strides created and funded the Joint Venture in 2005 and since that time have developed and submitted 15 ANDA's. Prior to year end, the Joint Venture expects to submit an additional 2 ANDA's for a total of 17 ANDA's filed in 2006. The Joint Venture is developing liquid, lyophilized and dry powder fill generic injectable products targeting several therapeutic markets with a major focus on anti-infectives, analgesics and CNS medicines. The additional funding provided to the Joint Venture will expand the Akorn-Strides, LLC to 29 ANDA's for a total of 53 SKU's, or product line offerings. The Joint Venture expects to generate revenues in 2007 based on initial product approvals and subsequent product launches. Arthur S. Przybyl, President and CEO of Akorn and Member Manager of Akorn-Strides, LLC stated, "We are pleased with the progress of the Joint Venture since its inception. Strides Arcolab has demonstrated on-time execution in developing ANDA injectable drug products for the Joint Venture. Akorn has been filing regulatory submissions for the Joint Venture at a rate of approximately two per month. It stands to reason that expanding the Joint Venture product portfolio will only help to generate greater revenues and market presence." Arun Kumar, Executive Vice Chairman and Managing Director of Strides and Member Manager of Akorn-Strides, LLC stated, "We are delighted to expand the pipeline of products to 29 in our Joint Venture with Akorn and we are confident that the Joint Venture will emerge as a significant provider of quality sterile products in the North American region." 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 Strides Arcolab Limited Strides, listed on the Bombay Stock Exchange Limited (532531) and National Stock Exchange of India Limited (STAR), is one of India's largest exporters of branded generic pharmaceutical products. Strides manufactures pharmaceuticals formulations in various dosage forms, including capsules, tablets, liquid injectables and is one of the world's top five manufacturers of softgel capsules. Strides also has the only globally dedicated softgel facility for hormones. In addition, Strides undertakes contract research and the manufacturing of specialty chemicals for various multinational companies. Strides has a major presence in various developing countries such as Africa, Latin America and Asia as well as in developed markets such as the U.S., Canada and part of Europe. Strides is one of the largest Indian supplier of institutionally funded aid projects and is an approved supplier to the Global Drug Facility, UNICEF, and MSF amongst others. Strides has 14 manufacturing plants spread across the U.S., Brazil, Mexico, Italy, Poland, Singapore and India. This broad manufacturing network facilitates partnering with global organizations ranging from UNICEF and WHO-Global Drug Facility to European and American pharmaceutical multinationals, private labelers and distribution chains. Strides has product registrations in over 37 countries around the world and has earned ISO 9001, ISO 14001 and GMP accreditations including USFDA. Strides employs approximately 1,700 people across the globe. Strides also has a marketing presence in over 50 countries. 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. 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.