Biological E. Limited entered into a share purchase agreement to acquire assets of Akorn India Private Limited from World Akorn Pharma Mauritius and Akorn, Inc. (OTCPK:AKRX.Q) for $10 million on June 17, 2020. The consideration will be paid in cash and is subject to withholding taxes, if any, and adjustment for certain net working capital items. World Akorn Pharma sold 4.851 million shares of Akorn India for $9.998 million. The transaction is subject to the approval of the United States Bankruptcy Court for the District of Delaware, appointment of a valuer and other conditions. On July 21, 2020, the transaction was approved by the US bankruptcy court. PwC CF PricewaterhouseCoopers Corporate Finance LLC acted as financial advisor for Akorn India, World Akorn Pharma and Akorn, Inc.. Anand Mehta and Shailendra Bhandare of Khaitan & Co acted as legal advisor for Akorn India Private Limited, Akorn Inc. and WorldAkorn Pharma. Shardul Amarchand Mangaldas & Co acted as legal advisor and Torreya acted as financial advisor for Biological. Biological E. Limited completed the acquisition of assets of Akorn India Private Limited from World Akorn Pharma Mauritius and Akorn, Inc. (OTCPK:AKRX.Q) on August 14, 2020.