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Akorn, Inc. (AKRX) manufactures and markets diagnostic and therapeutic ophthalmic pharmaceuticals, niche hospital drugs, and injectable pharmaceuticals in the United States and internationally.
It offers products in various areas, including ophthalmology, antidotes, anti-infectives, pain management, anesthesia, vaccines, and others.
The company operates in three segments: Ophthalmic, Hospital Drugs & Injectables, and Contract Services.
The Ophthalmic segment markets diagnostic products, such as mydriatics and cycloplegics, anesthetics, topical stains, gonioscopic solutions, angiography dyes, and others for use in the office setting; therapeutic products, including antibiotics, steroids, steroid combinations, glaucoma medications, decongestants/antihistamines, and anti-edema medications to wholesalers, chain drug stores, and other national account customers; non-pharmaceutical products comprising artificial tear solutions, preservative-free lubricating ointments, and eyelid cleansers; and over-the-counter dry eye and other eye health products under the TheraTears name through chain drug stores and big box retailers, as well as directly to optometrists, ophthalmologists, and other eye care practitioners and clinics. This segment offers ophthalmic products, such as AzaSite, an azithromycin ophthalmic solution; Cosopt, a dorzolamide hydrochloride and timolol maleate ophthalmic solution; and Cosopt PF, a preservative-free prescription version of Cosopt.
The Hospital Drugs & Injectables segment provides hospital drug and injectable pharmaceutical products comprising antidotes, anti-infectives, controlled substances for pain management and anesthesia, and other pharmaceutical products to hospitals through the wholesale distribution channel.
The Contract Services segment manufactures various pharmaceutical products for third party pharmaceutical customers based on their specifications.
Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock.
52-Week Trading Range: $18.16 - $39.48
Entry Point: $36.60
Stop Loss: $34.77
Target Price: $40.26
AKRX fell below our stop loss. Closed at $34.75
