Akorn, Inc. (NASDAQ:AKRX) shares skyrocketed to kick off the week as the company is being discussed as the subject of a potential buyout.
Fresenius Medical Care AG & Co. (ADR) (NYSE:FMS) — a German health care provider — is reportedly in talks with Akorn over the possibility of acquiring the company. The latter had sales of $1.1 billion in 2016.
There are no guarantees that a deal will be completed by the two parties as they are simply in talks now. Akorn has a market capitalization of roughly $3.7 billion.
It is unclear how many employees Akorn has in its payroll per state, but across the country, this figure amounts to 1,650. Additionally, the health care provider has 2,388 workers around the world.
Akorn is responsible for researching, developing and selling over-the-counter medications, as well as generic versions of common medications at a discount.
The company offers a variety of health products for humans, as well as a number of pet-care products. These include eye medications, injectable products, non-injectable offerings, oral liquids, inhalants, nasal sprays and others.
CEO Raj Rai has helped the company turn things around since he joined Akorn at the helm in 2009, when AKRX stock was only selling at around $1 per share.
Company shares boomed 7.4% Monday, and they are now selling at around $31.97 per share..