Akorn's GAAP loss for 6 months of 2020 was $325,389 million, up 67.9% from $193,78 million in the previous year. Revenue decreased by 5.5% to $325,003 million from $343,928 million a year earlier.

Akorn commenced bankruptcy proceedings by filing a Chapter 11 U.S. Bankruptcy Code petition in a Delaware court. In addition, the company has entered into a restructuring support agreement with creditors representing more than 75% of the secured debt, who together will act as bidders in the sale of the company's business and provide additional liquidity to f...