BUFFALO GROVE, Ill., June 17 /PRNewswire-FirstCall/ -- Akorn, Inc. (OTC Bulletin Board: AKRN) today announced the appointment of Jeffrey A. Whitnell as Vice President, Finance and Chief Financial Officer. Mr. Whitnell has over twenty-five years of financial experience in specialty pharmaceuticals, healthcare, and chemical manufacturing operations. Before joining Akorn, Mr. Whitnell served as Vice President of Finance and Treasurer with Ovation Pharmaceuticals, Inc. Prior experience includes senior financial management roles with MediChem Life Sciences, and progressively responsible financial positions with Akzo Nobel, Motorola, and Arthur Andersen. Mr. Whitnell is a certified public accountant who holds a Bachelor of Science degree in Accounting from the University of Illinois, Champaign- Urbana, and a Master of Business Administration degree in Finance from the University of Chicago. Arthur S. Przybyl, Akorn's president and chief executive officer, stated, "We are very excited to have Jeff join our team and are confident that his extensive financial background, developed through the course of his extensive and diversified career with both entrepreneurial and multi-national organizations, will be a great asset for Akorn." Separately, the Company announced that Ben Pothast, Senior Vice President, Finance and Chief Financial Officer, was leaving to pursue other opportunities. "We thank Ben for his contribution to the Company and wish him the very best in all his future endeavors." Mr. Przybyl said. About Akorn, Inc. Akorn, Inc. manufactures and markets sterile specialty pharmaceuticals. Akorn has manufacturing facilities located in Decatur, Illinois and Somerset, New Jersey and markets and distributes an extensive line of hospital and ophthalmic pharmaceuticals. Additional information is available at the Company's website at http://www.akorn.com. Any statements made by Akorn, Inc. ("we," "us," "our," "Akorn" or the "Company") in this press release that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company cautions readers that important factors may affect the Company's actual results and could cause such results to differ materially from forward-looking statements made by or on behalf of the Company. Such factors include, but are not limited to, risks and uncertainties relating to (i) the ability to generate cash from operations sufficient to meet the Company's working capital requirements, (ii) the necessity of complying with various regulatory procedures in the manufacture of drug products, (iii) the Company's ability to acquire, develop, finance, test, produce and market new products, including the availability of materials to produce products, (iv) the resolution of the FDA compliance issues at the Company's Decatur, Illinois manufacturing facility and the outcome of other legal proceedings involving the Company, (v) patent protection for the Company's intellectual property or trade secrets, and (vi) other risks detailed from time to time in filings the Company makes with the Securities and Exchange Commission including, but not limited to, those risks referenced under the caption "Factors That May Affect Future Results" in Item 1 of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2003.
SOURCE Akorn, Inc.