Akorn Inc., together with its subsidiaries, operates as a specialty generic pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals, as well as private-label over-the-counter consumer health products and animal health pharmaceuticals.
The Chicago-based pharma leader has been around for nearly 50 years yet has seen its FRISK® score freefall down from a "9" to a "1" in less than 12 months' time:
This High Risk Report will explore all of the factors which led to Akorn, Inc.'s recent financial struggles and what may be in store in 2019. Recurring operating and net losses, their negative interest coverage and free cash flow trends and substantial year-over-year working capital decline of approximately 20% all signal heightened stress and bankruptcy risk.
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About High Risk Reports
Our High Risk Reports feature companies that are exhibiting a significantly high level of financial distress, as indicated by our proprietary FRISK® score.
The reports highlight the factors that have pushed a company's score lower on the "1" (worst) to "10" (best) FRISK® score, which is 96% accurate in predicting bankruptcy over a 12-month period. The High Risk Reports also includes analysis on financial indicators such as the company’s DBT index, stock performance, financial ratios and how it is performing relative to its industry peers.
The ultimate goal of the High Risk Report series is two-part: provide an early warning for those doing business with an increasingly distressed company and inform of the many signals that should be examined when assessing financial risks.