FRANKFURT, Aug 19 (Reuters) - Fresenius SE (FREG.DE) said its long-serving Chief Executive Stephan Sturm would quit, to be replaced by the head of its drugs unit, after the diversified group's earnings were hit following the COVID pandemic and a surge in costs.
Akorn (AKRX) - Get Report shares on Thursday dropped after the generic-drug maker filed for protection from creditors under Chapter 11 of the federal bankruptcy laws.
Teva Pharmaceutical Industries Ltd. won a ruling that could keep its cancer drug Bendeka free from generic competition for more than a decade.
Akorn Inc. officials allegedly submitted phony data to regulators about an antibiotic drug, prompting Fresenius SE to pull out of a $4.3 billion buyout of the generic drugmaker.
Details on why Fresenius last month sought to terminate its acquisition of Akorn, Inc. emerged on Wednesday, with Fresenius alleging a top executive at Akorn had knowingly submitted fabricated data to the US Food and Drug Administration (FDA).
Manufacturing tests are used to make sure drugs are sterile and free of contaminants. At Fresenius’s Baddi, India, facility workers had a history of invalidating the quality tests when a negative result was found, the Food and Drug Administration said in a Dec. 18 warning letter to the company.
Akorn, Inc. (Nasdaq:AKRX), a leading specialty generic pharmaceutical company, today confirmed that Akorn is currently in discussions with Fresenius Kabi, a subsidiary of Fresenius SE & Co. KGaA (FWB:FRE), concerning a potential acquisition of Akorn.
A deal between German-based Fresenius SE & Co. KGaA and Pfizer (PFE) to acquire that company’s pumps and devices business has stalled on valuation, Bloomberg is reporting this morning