LAKE FOREST, Ill.--(BUSINESS WIRE)--Akorn, Inc. (NASDAQ: AKRX), a niche specialty pharmaceutical company, today reported financial results for the third quarter of 2011. Consolidated revenue for the third quarter of 2011 was $36.7 million, up 69% over the comparable prior year quarter consolidated revenue of $21.7 million. The increase in revenue was the result of a full quarter of AVR sales totaling $5.6 million, the continued growth of products launched in 2010 and strong organic growth in established injectable and ophthalmic products. Consolidated gross margin for the third quarter of 2011 was 60% compared to 53% in the comparable prior year period. Sustained improvements in gross margin are the result of favorable product mix, selected price increases and higher utilization of plant capacities.
