Beset by a failed merger, mounting losses, and manufacturing headaches, Akorn (AKRX) last month sought to compensate for its many woes by taking a round of steep price hikes on many of its drugs.
The beleaguered drug maker, which sells mostly generics, raised list prices on no fewer than a dozen medicines by 19.4 % to 285 %, with the largest increase for Lidocaine HCI gel, a product used for preventing and treating pain that now costs $56.56 for a month’s supply, according to Wells Fargo analyst David Maris.
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