Akorn Inc. under new ownership after court approves sale

LAKE FOREST, Ill. (WAND) — Akorn Inc. will be sold to its existing lenders after receiving approval from the United States Bankruptcy Court for the District of Delaware. 

The generic pharmaceuticals manufacturer, which operates two facilities in Decatur, filed for Chapter 11 bankruptcy protection in late May in an attempt to complete a sale in court. 

In a news release, officials said the sale will allow the company to "move beyond the Chapter 11 process."

"We look forward to emerging as a more vibrant company, even better positioned to improve patients’ lives through the quality, availability and affordability of our products," the news release said. 

The sale is expected to be completed within the next few weeks. Akorn said it will continue normal operations as the process continues.