BAUDETTE, Minn., Feb. 24, 2017 /PRNewswire/ -- ANI
Pharmaceuticals, Inc. ("ANI") (Nasdaq: ANIP) today announced that
it has acquired Inderal® XL from Cranford
Pharmaceuticals, LLC and InnoPran
XL® from Holmdel
Pharmaceuticals LP. The acquired assets include the NDA and
trademark for InnoPran XL® including
a license to an Orange Book listed patent, and a distribution
license and trademark for Inderal® XL as well as
finished goods inventory of both products.
Inderal® XL and InnoPran
XL® are currently available in 80mg
and 120mg sustained release capsules and are indicated for
hypertension. Inderal® XL and InnoPran
XL® generated combined sales of
$23.3 million in calendar year 2016,
according to IMS Health. The acquisitions were funded through
a combination of cash and debt.
In conjunction with today's announcement, ANI has immediately
begun selling both Inderal® XL 80mg and 120mg
sustained release capsules as well as InnoPran
XL® 80mg and 120mg sustained release
capsules under their current labels. ANI will transition both
products to the ANI label at a future date.
Arthur S. Przybyl, ANI's
President and CEO stated, "We are excited to add these two patent
protected products to our existing brand business and to further
extend our commercial portfolio of brand and generic extended
release beta blockers."
About Inderal® XL capsules
Inderal® XL is a beta adrenergic blocker
indicated for the treatment of hypertension, to lower blood
pressure. Lowering blood pressure reduces the risk of fatal and
nonfatal cardiovascular events, primarily strokes and myocardial
infarctions.
About InnoPran XL® capsules
InnoPran XL® is a beta adrenergic
blocker indicated for the treatment of hypertension, to lower blood
pressure. Lowering blood pressure reduces the risk of fatal and
nonfatal cardiovascular events, primarily strokes and myocardial
infarctions.
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.