BAUDETTE, Minn., Oct. 5, 2015 /PRNewswire/ -- ANI Pharmaceuticals,
Inc. ("ANI") (NASDAQ: ANIP) announced today that its Board of
Directors has authorized a stock repurchase program under which the
Company may repurchase up to $25
million of shares of the Company's common stock. ANI
expects to fund the stock repurchase program through cash on hand.
The authorization allows for repurchases to be conducted through
open market or through privately negotiated transactions through
December 31, 2016. The number of
shares repurchased and the timing of repurchases will depend on a
number of factors, including, but not limited to, share price,
trading volume and general market conditions, along with working
capital requirements, general business conditions and other
factors. The stock repurchase program may be suspended,
modified or discontinued at any time at ANI's discretion.
ANI had 11,489,204 shares of common stock outstanding as of
September 30, 2015.
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 risks and
uncertainties 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.