BAUDETTE, Minn., April 4, 2016 /PRNewswire/ -- As a result of
the close of the acquisition of the Inderal® LA assets from
Cranford Pharmaceuticals, ANI Pharmaceuticals, Inc. ("ANI")
(Nasdaq: ANIP) today issued revised financial guidance for
2016.
|
Revised
Guidance
|
Original
Guidance
|
Net
Revenues
|
$119 million to $134
million
|
$105 million to $120
million
|
Adjusted non-GAAP
EBITDA
|
$55 million to $63
million
|
$45 million to $53
million
|
Adjusted non-GAAP Net
Income Per Diluted Share
|
$3.54 to
$3.91
|
$2.94 to
$3.31
|
Arthur S. Przybyl, ANI's
President and CEO stated, "The close of this transaction to acquire
Inderal LA and Propranolol ER kicks off a busy and exciting second
quarter for ANI. In total, we expect to launch seven products over
this time frame including Inderal LA and Propranolol ER capsules,
hydrocortisone cream 1% and 2.5% for rectal use, a previously
unannounced authorized generic product, our generic anti-cancer
product (pending FDA approval) and fenofibrate 50mg and 150mg
capsules in the ANI label. These seven products have a combined
market value of $342M on a trailing
twelve month basis, per IMS Health."
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.
Non-GAAP Financial Measures
Certain elements of the Company's fiscal 2016 guidance have been
provided on a non-GAAP basis. This is due to the inherent
difficulty of forecasting the timing or amount of items that would
be included in the most directly comparable forward-looking GAAP
financial measures. Because a reconciliation is not available
without unreasonable effort, it is not included in this
release.
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; 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.