Cohen's SAC Capital Boosts Stake in Akorn (AKRX) to 5.6%
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In a 13G filing on Akorn Inc. (Nasdaq: AKRX), Steven Cohen's SAC Capital disclosed a 5.6% stake (5,024,787 shares) in the company. The hedge fund disclosed a 1,925,000 share stake in AKRX at the quarter ended 03/31/08.
Akorn, Inc. manufactures and markets diagnostic and therapeutic pharmaceuticals in areas, such as ophthalmology, rheumatology, anesthesia, and antidotes primarily in the United States.
SAC is a multi-strategy, private asset management firm founded by Steven A. Cohen in 1992 with 9 employees and $25 million in assets under management. As of September 2007, the firm has grown to over 800 employees with approximately $14 billion in assets.
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