About Akorn
Akorn is a company based in Lake (United States) founded in 1948 was acquired by Biological E in August 2020. It operates as a Reseller / Distribution. The company has 1,367 employees as of December 31, 2022. Akorn has completed 3 acquisitions, including Hi-Tech, Thera Tears and VersaPharm. Akorn offers products and services including Buprenorphine, Naloxone, Phenylephrine, Albuterol Sulfate Inhalation Solution, and Anased (Xylazine) Injection.
- Headquarter Lake, United States
- Employees 1367 as on 31 Dec, 2022
- Stage Public
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Sectors
Healthcare
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Akorn Operating Company Llc
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Annual Revenue
$682.43 M-2as on Dec 31, 2019
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Net Profit
$-226.77 M44as on Dec 31, 2019
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EBITDA
$-188.06 M52as on Dec 31, 2019
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Latest Funding Round
$120 M (USD), Post-IPO
May 26, 2011
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Investors
Biological E
& 1 more
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Employee Count
1367
as on Dec 31, 2022
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Investments & Acquisitions
Hi-Tech
& 2 more
- Acquired by
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Products & Services of Akorn
Akorn offers a comprehensive portfolio of products and services, including Buprenorphine, Naloxone, Phenylephrine, Albuterol Sulfate Inhalation Solution, and Anased (Xylazine) Injection. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Buprenorphine is provided for opioid dependency treatment solutions.
Naloxone is offered for reversing opioid overdose effects.
Phenylephrine is supplied for nasal congestion relief purposes.
Albuterol is delivered for asthma and respiratory conditions.
Xylazine is used for sedation in veterinary applications.
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Software Development Team
17 people
Product Management Team
7 people
Leadership Team
7 people
Senior Team
7 people
Sales and Marketing
6 people
Legal and Compliance
5 people
Human Resources and Administration
4 people
Manager Team
3 people
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Funding Insights of Akorn
- Total Funding Total Funding
- Total Rounds 1
- Last Round Post-IPO — $120.0M
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First Round
First Round
(26 May 2011)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2011 | Amount | Post-IPO - Akorn | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Akorn
Akorn has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include Biological E and Fresenius Kabi. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Vaccines and therapeutics for multiple diseases are developed and marketed.
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Founded Year | Domain | Location | |
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Healthcare solutions in pharmaceuticals, nutrition, MedTech, and biopharmaceuticals.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Akorn
Akorn has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include Hi-Tech, Thera Tears and VersaPharm. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Eye drops are manufactured by Thera Tears for therapeutic purposes.
|
1997 | ||||
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Generic pharmaceuticals are developed and marketed in key categories.
|
1995 | ||||
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Generic, branded, and OTC pharmaceutical products are manufactured.
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1983 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 |
Financial Statements - Akorn
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Akorn Comparisons
Competitors of Akorn
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Akorn
Frequently Asked Questions about Akorn
When was Akorn founded?
Akorn was founded in 1948 and raised its 1st funding round 63 years after it was founded.
Where is Akorn located?
Akorn is headquartered in Lake, United States.
How many employees does Akorn have?
As of Dec 31, 2022, the latest employee count at Akorn is 1,367.
What is the annual revenue of Akorn?
Annual revenue of Akorn is $682.43M as on Dec 31, 2019.
What does Akorn do?
Akorn Operating Company LLC was engaged in the distribution of pharmaceutical products, including generics and veterinary solutions. Operations covered a range of medications such as Buprenorphine, Naloxone, and Albuterol Sulfate Inhalation Solution. The company served the healthcare sector with a focus on human and animal health. In February 2023, it filed for Chapter 7 bankruptcy and ceased all operations.
What products or services does Akorn offer?
Akorn offers Buprenorphine, Naloxone, Phenylephrine, Albuterol Sulfate Inhalation Solution, and Anased (Xylazine) Injection.
How many acquisitions has Akorn made?
Akorn has made 3 acquisitions, including Hi-Tech, Thera Tears, and VersaPharm.
Who are Akorn's investors?
Akorn has 2 investors. Key investors include Biological E, and Fresenius Kabi.