BAUDETTE, Minn., April 4, 2018 /PRNewswire/ -- ANI
Pharmaceuticals, Inc. ("ANI") (Nasdaq: ANIP) today announced that
it has acquired ANDAs for 23 previously marketed generic drug
products from IDT Australia, Ltd. ("IDT") for $2.6 million and a limited single-digit
royalty for one product. Additionally, ANI acquired active
pharmaceutical ingredient for one of the acquired products for
$135 thousand. In 2015, ANI had
secured the U.S. licensing rights and 40% to 50% of the net profits
upon commercialization for these products from IDT for $1.0 million. Today's acquisition gives ANI
full control of the re-commercialization program and the vast
majority of the economics for these products. The total current
annual U.S. market for these products is approximately $500 million, per Iqvia/IMS Health.
Arthur S. Przybyl, President and
CEO of ANI stated, "This acquisition advances our strategy of
building a pipeline of previously approved generic drug products
that can be re-commercialized via a CBE-30 (changes being effected
in thirty days) or prior approval supplement filing. The
acquisition also allows us to continue to leverage our U.S. based
manufacturing plants to launch generic products and expand our
commercial portfolio. We look forward to executing additional
launches from this basket of ANDAs in the future."
About ANI
ANI Pharmaceuticals, Inc. (the "Company" or "ANI") is an
integrated specialty pharmaceutical company developing,
manufacturing, and marketing branded and generic prescription
pharmaceuticals. The Company's targeted areas of product
development currently include narcotics, oncolytics (anti-cancers),
hormones and steroids, and complex formulations involving extended
release and combination products. For more information, please
visit our website www.anipharmaceuticals.com.
Forward-Looking Statements
To the extent any statements made in this release deal with
information that is not historical, these are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements include, but are not limited
to, statements about price increases, the Company's future
operations, products financial position, operating results and
prospects , the Company's pipeline or potential markets therefor,
and other statements that are not historical in nature,
particularly those that utilize terminology such as "anticipates,"
"will," "expects," "plans," "potential," "future," "believes,"
"intends," "continue," other words of similar meaning, derivations
of such words and the use of future dates.
Uncertainties and risks may cause the Company's actual results
to be materially different than those expressed in or implied by
such forward-looking statements. Uncertainties and risks include,
but are not limited to, the risk that the Company may face with
respect to importing raw materials; increased competition;
acquisitions; contract manufacturing arrangements; delays or
failure in obtaining product approval from the U.S. Food and Drug
Administration; general business and economic conditions; market
trends; products development; regulatory and other approvals and
marketing.
More detailed information on these and additional factors that
could affect the Company's actual results are described in the
Company's filings with the Securities and Exchange Commission,
including its most recent annual report on Form 10-K and quarterly
reports on Form 10-Q, as well as its proxy statement. All
forward-looking statements in this news release speak only as of
the date of this news release and are based on the Company's
current beliefs, assumptions, and expectations. The Company
undertakes no obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
For more information about ANI, please contact:
Investor Relations
IR@anipharmaceuticals.com
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SOURCE ANI Pharmaceuticals, Inc.