Akorn, Inc.

Raj Rai has been appointed interim chief executive officer of Akorn, Inc., while the board of directors looks for a permanent replacement. Mr. Rai replaces Jeffery A. Whitnell, who is leaving the company to pursue other interests.

Mr. Rai has been a strategic consultant to the company for the past three months and has 15 years of healthcare services experience. Most recently, he was the president and chief executive officer of Option Care, Inc., a pharmacy services provider of home infusion therapies and specialty pharmaceuticals. Mr. Rai currently serves on the board of directors of SeQual Technologies, a manufacturer of portable oxygen concentrators.

The company also announced the appointment of Timothy A. Dick as chief financial officer. Mr. Dick joins the company from Walgreens-Option Care, Inc., where he served as vice president, operations improvement and analysis with responsibility for finance, pricing and process improvement. Mr. Dick has previously held various leadership positions in the areas of financial planning, analysis, and acquisitions at Option Care. Prior to joining Option Care, he held various management positions in finance and acquisitions with both Johnson & Johnson and Peace Health, a Seattle-based regional health care system.

Joseph Bonaccorsi has been appointed senior vice president, general counsel and secretary. Mr. Bonaccorsi previously served in this position for Option Care from 2002 through 2007. Following Walgreen’s acquisition of Option Care, he served as senior vice president mergers and acquisitions and counsel for the Walgreen’s-Option Care Home Care division.

Dr. John N. Kapoor, Akorn’s chairman of the board, stated, “I am pleased with the progress the company has made in the last few months. With the addition of the new management team, we believe the company is on the path to capitalize on the opportunities that exist in the fast growing generic pharmaceutical industry.”