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Akorn reports increase in revenue for fourth quarter, full year

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Akorn reported total consolidated revenue of $601.9 million in 2014 compared with $317.7 million in 2013, according to a press release.

Annual GAAP net income was $40.9 million, or $0.38 per diluted share, compared with $52.4 million, or $0.46 per diluted share, the previous year.

Total consolidated revenue was $227.8 million in the fourth quarter of 2014 compared with $85 million in the same quarter of 2013.

The increase in revenue was mainly driven by the acquisitions of Hi-Tech Pharmacal, VersaPharm and Xopenex (levalbuterol tartrate), the release said.

GAAP net income increased to $34.2 million, or $0.29 per diluted share, in the fourth quarter from $16.7 million, or $0.14 per diluted share, in the same quarter of 2013.