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Fly News Breaks for April 30, 2018
FSNUY, AKRX
Apr 30, 2018 | 07:28 EDT
Deutsche Bank analyst Gregg Gilbert says that while Akorn's (AKRX) complaint against Fresenius (FSNUY) for breach of contract "includes some interesting tidbits," it is important to note that it represents the view of only one side in the dispute. Regarding the allegations of data integrity issues, the complaint notes that the investigations uncovered discrete occurrences of data integrity challenges but characterizes these as commonplace in the industry and which Akorn has already begun to remediate, Gilbert tells investors in a research note. The complaint also suggests that Fresenius did not become concerned about the anonymous allegations until after Akorn's business began to face significant pressure, the analyst adds. He keeps a Hold rating on Akorn.
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