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
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
"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.