BAUDETTE, Minn., July 13, 2015 /PRNewswire/ -- ANI
Pharmaceuticals, Inc. ("ANI") (NASDAQ: ANIP) today announced that
it has acquired 22 previously marketed generic drug products from
Teva Pharmaceuticals for $25 million
in cash and a percentage of future gross profits from product
sales. The acquisition includes 19 solid-oral dosage
products, and 3 oral suspension products. ANI will initially focus
to tech transfer four products that qualify as CBE30 filings into
ANI's two manufacturing facilities; these four products have a
combined trailing twelve month market value of $210 million, according to IMS Health. The total
market value for the 22 products is $650
million on a trailing twelve month basis, per IMS Health.
The acquisition is being funded through cash on hand.
Arthur S. Przybyl, President and
CEO of ANI Pharmaceuticals, stated, "I am excited to add this group
of approved products to our generic portfolio and to further
leverage our manufacturing capabilities. Importantly, we will
be manufacturing one of the initial products out of our containment
facility for potent compounds. This acquisition meaningfully
expands our product pipeline to 68 products with a total market
value of $3.9B per IMS Health.
We are pleased at the opportunity to extend our collaboration with
Teva beyond the three transactions we have previously completed
over the past eighteen months."
Robert W. Schrepfer, VP of
Business Development, commented, "This transaction further
illustrates ANI's ability to execute strategic acquisitions that
leverage our internal capabilities and expand our approved product
portfolio. We are fortunate to have developed this strategic
relationship with an industry leader such as Teva."
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 therefore,
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; 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.