Napoli Bern Ripka Shkolnik, LLP Files Civil Complaint Against Akorn, Inc. -- AKRX

| Source: Napoli Bern Ripka Shkolnik, LLP

NEW YORK, Sept. 12, 2012 (GLOBE NEWSWIRE) -- The law firm of Napoli Bern Ripka Shkolnik, LLP announced that it has filed a civil complaint on behalf of Fera Pharmaceuticals, LLC ("Fera") in the Supreme Court of New York, County of New York, against Akorn, Inc ("Akorn"). The claim seeks to recover damages and losses estimated to exceed $100,000,000 arising from Akorn's intentional and willful breach of its commercial manufacturing supply agreement with Fera and misappropriation of Fera's trade secrets, amongst other misconduct.

Fera is a marketer, distributor and provider of sterile anti-infective ophthalmic drugs. In 2009, Fera and Akorn entered into an agreement, whereby Akorn agreed to manufacture and supply eight of Fera's products, on an exclusive or semi-exclusive basis, including Erythromycin and Bacitracin. The agreement also prohibited the improper use or disclosure of Fera's proprietary information and trade secrets, which were shared in confidence with Akorn in order to manufacture the drugs.

Fera alleges that Akorn failed to perform its duties with respect to manufacturing Fera's drugs almost immediately upon executing the agreement. Specifically, Fera alleges that Akorn refused to fill or only partially filled several of Fera's purchase orders, which caused Fera to manufacture the drugs through another manufacture at additional cost and with considerable delay. Fera also alleges that Akorn wrongfully utilized Fera's trade secrets in order to produce Erythromycin 1 gram and Erythromycin 3.5 gram for itself, in unfair competition with Fera, while delaying Fera from bringing Erythromycin to market. In addition, Fera alleges that Akorn failed to abide by the exclusivity provisions of their agreement. Fera alleges that Akorn also expressed an intent to wrongfully produce Bacitracin in violation of the agreement.

Fera's complaint seeks declaratory judgment with respect to its trade secrets, injunctive relief to restrain Akorn from selling Erythromycin and any other Fera product subject to the agreement, monetary relief estimated to exceed $100,000,000 in the form of compensatory damages, as well as punitive damages.

Paul J. Napoli
Adam J. Gana
Napoli Bern Ripka Shkolnik, LLP
Phone: 212-267-3700