June 9, 2009 (FinancialWire) — Akorn, Inc. (NASDAQ: AKRX) (Current Market Cap: US$90.23 Mil.) has appointed Raj Rai as interim chief executive officer while the company’s board conducts a search to find a permanent replacement. Rai replaces Jeffery A. Whitnell, who is leaving the company. The company has also appointed Timothy A. Dick as the its chief financial officer.

Rai has been a strategic consultant to the company for the past three months. Before that he was most recently the president and CEO of Option Care, Inc. (NASDAQ: OPTN) a pharmacy services provider of home infusion therapies and specialty pharmaceuticals. Rai currently serves on the board of SeQual Technologies, a manufacturer of portable oxygen concentrators.

Dick joins Akorn from Walgreens-Option Care, Inc., where he served as VP of operations improvement and analysis with responsibility for finance, pricing and process improvement.

Lake Forest, Illinois-based Akorn manufactures and markets sterile specialty pharmaceuticals. The company has manufacturing facilities located in Decatur, Illinois and Somerset, New Jersey and markets and distributes a line of hospital and ophthalmic pharmaceuticals.

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