Fresenius Had Testing Issues Similar to Akorn's, Executive Says - (Bloomberg via NewsPoints Desk)

  • Mats Henriksson, CEO of a subsidiary of Fresenius, acknowledged in court that the company faced similar testing problems as those cited in the drugmaker's decision to terminate its deal to purchase Akorn, Bloomberg reported Thursday.

  • In Delaware Chancery Court, Henriksson stated that FDA inspectors questioned drug-injection testing and test-result storage at one of its Indian facilities, with the issues taking two years to correct.

  • Fresenius had criticised Akorn for using similar tests and hinted that the US firm's security was too lax to guarantee the accuracy of its results.

  • "The big difference is that we were talking about one site for Fresenius," remarked Henriksson, continuing "at Akorn, we were talking about problems with research and development and at multiple sites."

  • In the case, Delaware Chancery Judge Travis Laster will determine whether Fresenius properly exited the takeover deal or order the firm to complete the acquisition.

  • If forced to complete the deal, Henriksson said Fresenius would move to recall all products linked to the questioned results and spend four years changing operational procedures at an estimated expense of $254 million.

  • FirstWord Reports: Providing insight, analysis and expert opinion on important Pharma trends and challenging issues <Click here>    

To read more NewsPoints articles, click here.