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Akorn (AKRX -8%) gets pummeled on a Deutsche downgrade to Hold, citing its high valuation, a...

  • Monday, July 23, 2012, 3:08 PM ET
    Akorn (AKRX -8%) gets pummeled on a Deutsche downgrade to Hold, citing its high valuation, a lack of exclusivity for a generic version of Abbott's (ABT -0.6%) Prometrium, and a weaker than expected Vancomycin launch. The firm also cuts its price target to $14 from $15.
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    The key to AKRX is the transition from being solely a domestic generic drug manufacture to their acquisition of Kilitch ( India). The acquisition of Kilitch was a strategic move. Increase capacity, new markets at the expense of lower gross margin but volume. AKRX must make another acquisition to justify it's multiple to carry it thru the lull before the Killitch acquisition numbers kick( Back half of 2013) in.
    23 Jul 2012, 06:28 PM Reply Like
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