Akorn Gets FDA Approval for Betamethasone Dipropionate Lotion USP (Augmented), 0.05%
Akorn, Inc. (AKRX) announced on October 14 that the company received FDA approval for betamethasone dipropionate lotion USP (augmented), 0.05%. Akorn had filed an Abbreviated New Drug Application (ANDA) with the FDA. Betamethasone dipropionate lotion (augmented) is a corticosteroid indicated for the relief of dermatoses in patients 13 years of age and older. U.S. sales of the drug were around $10 million during the last year.
Sonal issued an alert to subscribers at 4:25 pm. The stock had closed for the day at $3.80. The stock opened higher during the start of regular market trading on October 15 and continued to increase throughout the event day.
Akorn’s stock price continued to increase over the next four trading sessions. The stock closed at $4.71 on October 21. That makes a five-day gain of 24% following the announcement.
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