Fresenius in talks to buy US generic drugmaker Akorn

German healthcare company Fresenius SE & Co KGaA yesterday said that it is in talks to buy US generic drugmaker Akorn Inc.

There can be no assurance any transaction will result from these discussions, Fresenius said in a statement.

The move comes seven months after Fresenius acquired Spain's private hospital chain Quironsalud for €5.8 billion ($6.14 billion), including debt.

Akorn, which has a market cap of about $3.7 billion, is a niche pharmaceutical company that develops, manufactures and markets generic and branded prescription drugs as well as animal and consumer health products.

It specialises in difficult-to-manufacture sterile and non-sterile dosage forms including, ophthalmics, injectables, oral liquids, otics, topicals, inhalants, and nasal sprays.

The Illinois-based company markets its products to retail pharmacies, ophthalmologists, optometrists, physicians, veterinarians, hospitals, clinics, wholesalers, distributors, group purchasing organisations, and government agencies.

Akorn has its Research and Development facilities in Vernon Hills, Illinois, Cranbury, New Jersey, and Copiague, New York,  and manufacturing facilities in the US, India, and Switzerland.

Founded in 1912, Fresenius is a diversified medical equipment company that provides products and services for dialysis, hospitals as well as inpatient and outpatient medical care.

The Hamburg-based company focuses on hospital management as well as on engineering and services for medical centres and other health care facilities.

With activities spanning about 100 countries on six continents, the company employs over 230,000 people and has annual revenue of over €29 billion.