ANI Pharmaceuticals, Inc.
ANIP, an emerging generic pharmaceutical company, today announced
that it has acquired 31 previously marketed generic drug products from Teva
Pharmaceuticals TEVA for $12.5 million in cash and a percentage of future gross
profits from product sales. The acquisition includes 20 solid-oral immediate
release products, 4 extended release products and 7 liquid products. ANI will
begin work immediately on transferring these products into its manufacturing
facilities in anticipation of product launches beginning in the fourth quarter
of 2014. All of these products have been previously approved by FDA as
abbreviated new drug applications (ANDAs). The total current annual market
for these products is $860 million per IMS Health.
Arthur S. Przybyl, President and CEO of ANI Pharmaceuticals, stated, "This
acquisition is a significant opportunity for ANI to expand our generic product
portfolio beyond our current seven marketed products. When launched, these
products will strengthen our business by growing our revenue base and
leveraging our manufacturing capabilities. We are excited that this
transaction extends the ANI-Teva relationship beyond the existing generic
testosterone gel partnership."
Robert W. Schrepfer, VP of New Business Development, commented, "This
transaction demonstrates ANI's commitment to diversify our marketed product
portfolio and supplement our internal product development efforts through a
business development plan that includes partnerships, acquisitions and
in-licensing."
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