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Akorn reports 32% increase in third quarter net sales

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BUFFALO GROVE, Ill. — Akorn Inc. reported net sales of $14.5 million for the third quarter of 2006, up 32% from the same quarter last year, according to a press release.

Despite the increase, Akorn reported a net loss available to common stockholders of $1.2 million, or $0.02 per diluted share, an improvement over a net loss of $3.6 million, or $0.14 per diluted share, for the third quarter 2005.

The company attributed the loss to stock option expenses and product development milestone expenses for the AK-1015 clinical trial, as well as its newly signed development agreement with Sofgen Pharmaceuticals, according to the release.