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Akorn, Inc. (Nasdaq: AKRX) $6.39. Announced Wednesday after market close that its Akorn-Strides LLC joint venture has entered into a purchase agreement with Pfizer Inc. to sell 16 Abbreviated New Drug Approvals (ANDAs) and 6 filed ANDAs. For its portion, Akorn, Inc. will receive $35 million in cash. Akorn-Strides LLC will continue to manufacture and distribute the approved products until April 30, 2011.
In the three quarters ended September 30, 2010, Akorn recognized $1.9 million in revenue and approximately $2.0 million in adjusted EBITDA as a result of its participation in the Akorn-Strides LLC joint venture.
What They Do: Akorn, Inc. is a niche pharmaceutical company engaged in the development, manufacture and marketing of multisource and branded pharmaceuticals.
Wave Systems Corp. (Nasdaq: WAVX) $4.17. Today announced that it has received $5.2 million in additional license and maintenance orders through its PC OEM partners on behalf of a U.S.-based automotive company. The orders hasten the deployment and increase the total value of the automaker's software orders to $10.9 million, $6.7 million of which will be recorded as revenue over the next 12 months, $1.9 million of which was recorded as revenue in 2010 and $2.3 million of which is expected to be recognized as revenue in 2012 through 2014.
The automaker selected Wave's EMBASSY Remote Administration Server (ERAS) to manage its global fleet of employee laptops equipped with self-encrypting drives (SEDs) preinstalled with Wave's EMBASSY Trusted Drive Manager (TDM) client software. SEDs safeguard sensitive data such as customer information, financial data and intellectual property, while offering numerous performance and IT management advantages over software encryption, including the ability to encrypt all the contents of the drive without impacting performance. Wave's TDM and ERAS solutions are designed to enable IT personnel to easily set up and enroll each SED in a few minutes (a fraction of the time it takes to install and encrypt the contents of a hard drive using software-based encryption).
What They Do: Wave provides software to help solve critical enterprise PC security challenges such as strong authentication, data protection, network access control and the management of these enterprise functions.
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