Washington, D.C. 20549


Pursuant to Section 13 or 15(d) of the Securities Exchange Act
Date of Report:  December 7, 2010
(Date of Earliest Event Reported)

Akorn, Inc.
(Exact Name of Registrant as Specified in its Charter)

(State or other
Jurisdiction of
File Number)
(I.R.S. Employer
Identification No.)

1925 W. Field Court, Suite 300
Lake Forest, Illinois  60045
(Address of principal executive offices)
(847) 279-6100
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):

o Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240. 13e-4(c))

Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 7, 2010, the board of directors (“Board”) of Akorn, Inc. (the “Company”) and Raj Rai, its Chief Executive Officer, agreed to extend the terms of Mr. Rai’s existing Executive Consulting Agreement through December 31, 2010 to allow time to complete negotiating and drafting a new executive consulting agreement (“New Agreement”). The existing Executive Consulting Agreement between the Company and Mr. Rai was scheduled to expire on December 7, 2010. The current terms of Mr. Rai’s Executive Consulting Agreement can be found by reference to Exhibit 10.1 to the Company’s current report on Form 8-K, filed December 22, 2009. The Company expects to enter into the New Agreement with Mr. Rai prior to December 31, 2010.

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
  Akorn, Inc.  
/s/ Timothy A. Dick  
    Timothy A. Dick  
    Chief Financial Officer  

Date:  December 13, 2010