BUFFALO GROVE, Ill.--(BUSINESS WIRE)--Dec 5, 2007 - Akorn, Inc. (NASDAQ:AKRX) today announced that it has submitted the first Abbreviated New Drug Application (ANDA) with the Office of Generic Drugs on behalf of Serum Institute of India, Ltd. Akorn and Serum announced the signing of an exclusive drug development and distribution agreement for 16 anti-cancer injectable products in October 2004. Since then, Serum has constructed and validated a dedicated, state-of-the art manufacturing facility for producing liquid and lyophilized oncolytic drug products.
The submitted ANDA is a drug product that is given as a treatment for many different types of cancer, and has an estimated U.S. market size of approximately $53 million. Akorn expects to launch the drug product in 2010.
