Akorn (AKRX -12.2%) takes a hit this morning after Q1 revenue results missed the mark. The...
Akorn (AKRX -12.2%) takes a hit this morning after Q1 revenue results missed the mark. The company noted that due to constraints in capacity with its manufacturing partners as well as other market challenges, it was lagging behind with the launches of certain products that were approved late last year. It expects the issue to be resolved sometime in H2. Due to the problems however, it's lowering its forecast for FY13, now anticipating sales of $60M to $62M, or $0.53 to $0.55 per share - below Street expectations of $0.61.
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