Akorn falls further on warning letter

10 January 2019

The market value of generic drug developer Akorn (Nasdaq: AKRX) is now just a tenth of what it was a year ago after more bad news emerged on Wednesday.

A warning letter has been sent to the company by the US Food and Drug Administration (FDA), relating to the agency’s inspection of its manufacturing facility in Decatur, Illinois, in the spring of 2018.

Akorn has not revealed further details of the letter but pledged to work with the FDA to resolve the issues raised in the letter, saying that it has full confidence in the quality of the products manufactured at the plant, where the company expects to continue production.

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