Illinois-based Akorn Pharmaceuticals closed all its locations in the United States this week, abruptly laying off hundreds of employees, according to a letter sent to employees by the company’s president and CEO, Douglas Boothe
The employees will receive no severance pay or extended health insurance.
The letter was obtained by the Herald & Review newspaper in Decatur, Illinois, the site of one of Akorn’s manufacturing facilities.
Akorn, which makes generic drugs for humans and animals, is filing for Chapter 7 bankruptcy. The company attempted a sale but did not receive a bid that would cover its outstanding liabilities, the letter said….