Sec Form 4 Filing - Sabat John R @ AKORN INC - 2012-12-13

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Sabat John R 2. Issuer Name and Ticker or Trading Symbol AKORN INC [ AKRX] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) S. VP, Sale, MKtg, Nat'l Accts (Last) (First) (Middle) 1925 WEST FIELD COURT SUITE 300 3. Date of Earliest Transaction (MM/DD/YY) 12/13/2012 (Street) LAKE FOREST, IL60045 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 12/13/2012 M 16,997 A $ 1.6 50,252 D Common Stock 12/13/2012 S 16,997 D $ 13.1 ( 1 ) 33,255 ( 2 ) D Common Stock 12/14/2012 M 100 A $ 1.6 33,355 D Common Stock 12/14/2012 S 100 D $ 12.87 ( 1 ) 33,255 D Common Stock 12/14/2012 M 520 A $ 1.6 ( 1 ) 33,775 D Common Stock 12/14/2012 S 520 D $ 12.78 ( 1 ) 33,255 D Common Stock 12/14/2012 M 67,383 A $ 1.6 ( 1 ) 100,638 D Common Stock 12/14/2012 S 67,383 D $ 12.75 ( 1 ) 33,255 D Common Stock 12/14/2012 M 300 A $ 1.46 ( 1 ) 33,555 D Common Stock 12/14/2012 S 300 D $ 12.75 ( 1 ) 33,255 D Common Stock 12/14/2012 M 49,700 A $ 1.46 ( 1 ) 82,955 D Common Stock 12/14/2012 S 49,700 D $ 12.7456 ( 1 ) 33,255 D Common Stock 12/14/2012 M 21,827 A $ 2.61 ( 1 ) 55,082 D Common Stock 12/14/2012 S 21,827 D $ 12.788 ( 1 ) 33,255 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Stock Option (Right to Buy) $ 1.6 12/13/2012 M 16,997 ( 4 ) 11/19/2014 Common Stock 16,997 $ 0 ( 3 ) 178,002 D Stock Option (Right to Buy) $ 1.6 12/14/2012 M 8,003 ( 4 ) 11/19/2014 Common Stock 8,003 $ 0 ( 3 ) 169,999 D Stock Option (Right to Buy) $ 1.6 12/14/2012 M 50,000 ( 5 ) 11/19/2014 Common Stock 50,000 $ 0 ( 3 ) 119,999 D Stock Option (Right to Buy) $ 1.6 12/14/2012 M 10,000 ( 6 ) 11/19/2014 Common Stock 10,000 $ 0 ( 3 ) 109,999 D Stock Option (Right to Buy) $ 1.46 12/14/2012 M 50,000 ( 7 ) 02/22/2015 Common Stock 50,000 $ 0 ( 3 ) 59,999 D Stock Option (Right to Buy) $ 2.61 12/14/2012 M 21,827 ( 8 ) 05/21/2015 Common Stock 21,827 $ 0 ( 3 ) 38,172 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Sabat John R 1925 WEST FIELD COURT SUITE 300 LAKE FOREST, IL60045 S. VP, Sale, MKtg, Nat'l Accts Signatures /s/ John R Sabat 12/17/2012 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Reflects the weighted average sale prices of the shares sold. The reporting person will provide to the SEC staff, the issuer or a security holder of the issuer, upon request, full information regarding the number of shares sold at separate prices. ( 2 )Includes additional purchases of Akorn's Common Stock through Akorn's Employee Stock Purchase Plan of 4,118 shares on January 18, 2012. ( 3 )There was no consideration given in exchange for the security. ( 4 )The options exercised are from a grant on November 19, 2009 of 25,000 options which are fully vested, with 8,333 shares having vested on November 19, 2010 and November 19, 2011, respectively, and 8,334 shares having vested on November 19, 2012. ( 5 )The options exercised are from a grant on November 19, 2009 of 50,000 options which are fully vested, with 16,666 shares having vested on November 19, 2010 and 16,667 shares having vested on November 19, 2011 and on November 19, 2012, respectively. ( 6 )The options exercised are from a grant on November 19, 2009 of 10,000 options which are fully vested, with 3,333 shares having vested on November 19, 2010 and November 19, 2011, respectively, and 3,334 shares having vested on November 19, 2012. ( 7 )The options exercised are from a grant on February 22, 2010 of 75,000 options of which 50,000 options are fully vested, with 25,000 shares having vested on February 22, 2011 and February 22, 2012, respectively. ( 8 )The options exercised are from a grant on May 21, 2010 of 40,000 options of which 26,666 options are fully vested, with 13,333 shares having vested on May 21, 2011 and May 21, 2012, respectively.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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