BAUDETTE, Minn., May 8, 2018 /PRNewswire/ --
For the first quarter 2018:
- Net revenues of $46.5 million,
an increase of 27% as compared to the same period in 2017
- GAAP net income of $2.3
million and diluted GAAP earnings per share of $0.19
- Adjusted non-GAAP EBITDA of $21.8
million
- Adjusted non-GAAP diluted earnings per share of $1.32
ANI Pharmaceuticals, Inc. ("ANI") (NASDAQ: ANIP) today
reported its financial results for the three months ended
March 31, 2018 and reaffirmed its
2018 financial guidance. The Company will host its earnings
conference call this morning, May 8,
2018, at 10:30 AM ET.
Investors and other interested parties can join the call by dialing
(866) 776-8875. The conference ID is 2059819.
Financial Summary
(in thousands,
except per share data)
|
|
Q1
2018
|
|
Q1
2017
|
Net
revenues
|
|
$ 46,483
|
|
$ 36,628
|
Net
income
|
|
$
2,250
|
|
$
1,152
|
GAAP earnings per
diluted share
|
|
$
0.19
|
|
$
0.10
|
Adjusted non-GAAP
EBITDA(a)
|
|
$ 21,754
|
|
$ 14,729
|
Adjusted non-GAAP
diluted earnings per share(b)
|
|
$
1.32
|
|
$
0.74
|
|
(a) See
Table 3 for U.S. GAAP reconciliation.
|
(b) See
Table 4 for U.S. GAAP reconciliation.
|
Arthur S. Przybyl, President and
CEO, stated,
"The first quarter of 2018 was a
strong quarter, with increases in net revenues, Adjusted non-GAAP
EBITDA, and Adjusted non-GAAP diluted earnings per share of 27%,
48%, and 78%, respectively, as compared with the first quarter of
2017. As expected, 2018 has been an active year for business
development efforts at ANI. In the first five months, we have
successfully strengthened our generic product portfolio via the
acquisition of 23 generic products from IDT, by executing a new
license and supply agreement for a generic product that will be
filed in the coming months, and, most recently, adding seven
products, including three commercial products, to our generic
portfolio from an acquisition related to the Amneal/Impax
combination. In addition, we are pleased with the initial results
of our four-product brand acquisition that was completed in
December of last year. We expect to complete the tech transfer of
these four brands to our Baudette
manufacturing facility and launch under the ANI label in 2018; this
will serve to further increase our branded product
portfolio."
ANI Reaffirms Guidance for the Full Year 2018
ANI's estimates are based upon actual results for the three
months ending March 31, 2018 and
projected results for the remaining nine months of the year.
ANI's full year 2018 guidance reflects management's current
assumptions regarding customer relationships, product pricing,
prescription trends, competition, inventory levels, cost of sales,
operating costs, timing of research and development spend, taxes,
and the anticipated timing of future product launches, integration
and contribution of recent acquisitions and other key events. For
the twelve months ending December 31,
2018, ANI is providing guidance on net revenue, adjusted
non-GAAP EBITDA and adjusted non-GAAP diluted earnings per
share.
The following table summarizes 2018 guidance:
(in millions,
except per share data and percentages)
|
|
|
|
2018
Guidance
|
Net
revenues
|
|
|
|
$212 to
$228
|
Adjusted non-GAAP
EBITDA
|
|
|
|
$90 to
$100
|
Adjusted non-GAAP
diluted earnings per share
|
|
|
|
$5.43 to
$6.08
|
Cortrophin® Gel Re-commercialization Update
In the first quarter of 2018, ANI has continued to advance the
manufacture of Corticotropin active pharmaceutical ingredient
("API"). ANI has ordered and is in the process of installing and
qualifying the capital equipment necessary for commercial scale API
manufacturing. We plan to initiate commercial-scale API
manufacturing in the second quarter of 2018 and are still on track
to initiate API process validation and registration batch
manufacturing by the end of 2018. ANI has also continued to
manufacture batches of Cortrophin® gel drug product and is still on
track to manufacture commercial scale drug product batches before
the end of 2018.
ANI requested a Type C meeting with the FDA in the fourth
quarter of 2017 to provide the regulatory plan for
re-commercialization of Cortrophin® gel. The FDA granted the Type C
meeting and provided an initial response in March 2018, with further communications expected
during the second quarter of 2018.
For further details, please see ANI's Cortrophin® Gel
Re-commercialization Milestone Update in Table 5.
Vancocin® Oral Solution Update
ANI is currently advancing a commercialization effort for
Vancocin® oral solution. Following completion of ongoing
formulation and manufacturing optimization, ANI intends to file a
prior approval supplement ("PAS") in the second half of 2018. This
product will be manufactured at ANI's site in Baudette, MN and will compete in a market that
currently exceeds $450 million
annually.
First Quarter Results
Net
Revenues
(in
thousands)
|
|
Three Months
Ended
March 31,
|
|
|
|
|
|
|
|
2018
|
|
2017
|
|
Change
|
|
%
Change
|
Generic
pharmaceutical products
|
|
$
|
23,227
|
|
$
|
26,572
|
|
$
|
(3,345)
|
|
(13)%
|
Branded
pharmaceutical products
|
|
|
16,595
|
|
|
8,039
|
|
|
8,556
|
|
106%
|
Royalty and other
income
|
|
|
5,716
|
|
|
224
|
|
|
5,492
|
|
NM(1)
|
Contract
manufacturing
|
|
|
945
|
|
|
1,793
|
|
|
(848)
|
|
(47)%
|
Total net
revenues
|
|
$
|
46,483
|
|
$
|
36,628
|
|
$
|
9,855
|
|
27%
|
For the three months ended March 31,
2018, ANI reported net revenues of $46.5 million, an increase of 27% from
$36.6 million in the prior year
period, driven by the following factors:
- Revenues from sales of branded pharmaceuticals increased 106%,
to $16.6 million from $8.0 million in the prior period, primarily due
to sales of Inderal® XL and InnoPran XL®, both of which were
acquired in Q1 2017 and re-launched in ANI's own label in Q1 2018,
as well as increased sales of Inderal® LA.
- Royalty and other income increased to $5.7 million from $0.2
million, primarily due to the royalties received on sales of
Atacand®, Atacand HCT®, Arimidex®, and Casodex®.
- Revenues from sales of generic pharmaceuticals decreased 13% to
$23.2 million from $26.6 million in the prior period, primarily due
to volume decreases for Fenofibrate and sales decreases for
Propranolol ER driven by price, tempered by the impact of the
second quarter 2017 launch of Diphenoxylate Hydrochloride and
Atropine Sulfate.
- Contract manufacturing revenue decreased by 47% to $0.9 million from $1.8
million in the prior year period, primarily as a result of
the timing and volume of customer orders.
Operating expenses increased to $39.9
million for the three months ended March 31, 2018, from $32.0
million in the prior year period. The increase was primarily
due to a $4.3 million increase in
cost of sales as compared with the prior period, and $5.6 million of costs of sales related to the
inventory step up on Inderal® XL and InnoPran XL® inventory and the
write-off of remaining inventory acquired as part of the
acquisition when ANI launched the products under its own label
during the quarter. In addition, selling, general, and
administrative expense increased by $1.7
million due to increased personnel costs, and depreciation
and amortization increased by $1.5
million due to the amortization of the product rights for
Atacand®, Atacand HCT®, Arimidex®, and Casodex®, which were
acquired in December 2017.
Excluding the $5.6 million of net
inventory step-up related to the sales and write off Inderal® XL
and InnoPran XL® in the first quarter of 2018 and $1.5 million of net inventory step-up related to
sales of Inderal ® LA, Inderal® XL, and InnoPran XL® in the first
quarter of 2017, cost of sales decreased to 32% from 41% of net
revenues driven by the significant increase in royalty income.
Net income was $2.3 million for
the three months ended March 31,
2018, as compared to net income of $1.2 million in the prior year period. The
effective tax rate for the three months ended March 31, 2018 was 21% as compared to 31% in the
prior year period.
Diluted earnings per share for the three months ended
March 31, 2018 was $0.19, based on 11,706 thousand diluted shares
outstanding, as compared to diluted earnings per share of
$0.10 in the prior year period.
Adjusted non-GAAP diluted earnings per share was $1.32, as compared to adjusted non-GAAP diluted
earnings per share of $0.74 in the
prior year period. For a reconciliation of adjusted non-GAAP
diluted earnings per share to the most directly comparable GAAP
financial measure, please see Table 4.
Selected Balance Sheet Data
(in thousands)
|
March 31,
2018
|
December 31,
2017
|
Cash and cash
equivalents
|
$
51,970
|
$
31,144
|
Accounts receivable,
net
|
$
54,801
|
$
58,788
|
Inventory,
net
|
$
34,294
|
$
37,727
|
Current
assets
|
$
143,394
|
$
131,605
|
Current
liabilities
|
$
39,650
|
$
39,228
|
Non-current
debt
|
$
198,725
|
$
198,154
|
ANI generated $22.9 million of
cash flow from operations in the three months ended March 31, 2018. In December 2017, ANI entered into a credit
agreement with Citizens Bank, N.A. that included a $75 million term loan and a $50 million line of credit. The $75 million term loan was used to pay down ANI's
former $25.0 million line of credit
and to purchase from AstraZeneca AB and AstraZeneca UK Limited the
right, title, and interest in the NDAs and the U.S. rights to
market Atacand®, Atacand HCT®, Arimidex®, and Casodex®, for
$46.5 million in cash. The
$50 million line of credit currently
remains undrawn.
ANI Product Development Pipeline
ANI's pipeline consists of 76 products, addressing a total
annual market size of $4.7 billion,
based on data from IMS Health. Of these 76 products, 71 were
acquired and of these acquired products, ANI expects that 54 can be
commercialized based on either CBE-30s or prior approval
supplements filed with the FDA.
Non-GAAP Financial Measures
The Company's fiscal 2018 guidance for adjusted non-GAAP EBITDA
and adjusted non-GAAP diluted earnings per share is not reconciled
to the most comparable GAAP measure. This is due to the inherent
difficulty of forecasting the timing or amount of items that would
be included in a reconciliation to 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.
Adjusted non-GAAP EBITDA
ANI's management considers adjusted non-GAAP EBITDA to be an
important financial indicator of ANI's operating performance,
providing investors and analysts with a useful measure of operating
results unaffected by non-cash stock-based compensation and
differences in capital structures, tax structures, capital
investment cycles, ages of related assets, and compensation
structures among otherwise comparable companies. Management uses
adjusted non-GAAP EBITDA when analyzing Company performance.
Adjusted non-GAAP EBITDA is defined as net income/(loss),
excluding tax expense, interest expense, depreciation,
amortization, the excess of fair value over cost of acquired
inventory, stock-based compensation expense, costs related to major
transactions not consummated, and other income / expense. Adjusted
non-GAAP EBITDA should be considered in addition to, but not in
lieu of, net income or loss reported under GAAP. A reconciliation
of adjusted non-GAAP EBITDA to the most directly comparable GAAP
financial measure is provided in Table 3.
Adjusted non-GAAP Net Income
ANI's management considers adjusted non-GAAP net income to be an
important financial indicator of ANI's operating performance,
providing investors and analysts with a useful measure of operating
results unaffected by purchase accounting adjustments, non-cash
stock-based compensation, non-cash interest expense, depreciation
and amortization, and non-cash impairment charges. Management uses
adjusted non-GAAP net income when analyzing Company
performance.
Adjusted non-GAAP net income is defined as net income/(loss),
plus the excess of fair value over cost of acquired inventory,
stock-based compensation expense, costs related to major
transactions not consummated, non-cash interest expense,
depreciation and amortization expense, and non-cash impairment
charges, less the tax impact of these adjustments calculated using
an estimated statutory tax rate. Management will continually
analyze this metric and may include additional adjustments in the
calculation in order to provide further understanding of ANI's
results. Adjusted non-GAAP net income should be considered in
addition to, but not in lieu of, net income reported under GAAP. A
reconciliation of adjusted non-GAAP net income to the most directly
comparable GAAP financial measure is provided in Table 4.
Adjusted non-GAAP Diluted Earnings per Share
ANI's management considers adjusted non-GAAP diluted earnings
per share to be an important financial indicator of ANI's operating
performance, providing investors and analysts with a useful measure
of operating results unaffected by purchase accounting adjustments,
non-cash stock-based compensation, non-cash interest expense,
depreciation and amortization, and non-cash impairment charges.
Management uses adjusted non-GAAP diluted earnings per share
when analyzing Company performance.
Adjusted non-GAAP diluted earnings per share is defined as
adjusted non-GAAP net income, as defined above, divided by the
diluted weighted average shares outstanding during the period.
Management will continually analyze this metric and may include
additional adjustments in the calculation in order to provide
further understanding of ANI's results. Adjusted non-GAAP diluted
earnings per share should be considered in addition to, but not in
lieu of, diluted earnings or loss per share reported under GAAP. A
reconciliation of adjusted non-GAAP diluted earnings per share to
the most directly comparable GAAP financial measure is provided in
Table 4.
About ANI
ANI Pharmaceuticals, Inc. (the "Company" or "ANI") is an
integrated specialty pharmaceutical company developing,
manufacturing, and marketing high quality branded and generic
prescription pharmaceuticals. The Company's targeted areas of
product development currently include controlled substances,
oncolytics (anti-cancers), hormones and steroids, and complex
formulations involving extended release and combination products.
For more information, please visit the Company's 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 approvals from the U.S. Food and Drug
Administration; general business and economic conditions; market
trends; regulatory environment; 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
ANI
Pharmaceuticals, Inc. and Subsidiary
|
Table 1: US GAAP
Income Statement
|
(unaudited, in
thousands, except per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
March 31,
|
|
|
|
2018
|
|
2017
|
|
|
|
|
|
|
|
Net
Revenues
|
|
$46,483
|
|
$36,628
|
|
|
|
|
|
|
|
Operating
Expenses
|
|
|
|
|
|
Cost of
sales (excl. depreciation and
amortization)
|
|
20,693
|
|
16,386
|
|
Research and
development
|
|
2,102
|
|
1,618
|
|
Selling, general, and
administrative
|
|
8,956
|
|
7,293
|
|
Depreciation and
amortization
|
|
8,195
|
|
6,706
|
|
|
|
|
|
|
|
Total Operating
Expenses
|
|
39,946
|
|
32,003
|
|
|
|
|
|
|
|
Operating Income
|
|
6,537
|
|
4,625
|
|
|
|
|
|
|
|
Other Expense,
Net
|
|
|
|
|
|
Interest
expense, net
|
|
(3,634)
|
|
(2,932)
|
|
Other
expense, net
|
|
(61)
|
|
(18)
|
|
|
|
|
|
|
|
Income Before
Provision for Income Taxes
|
|
2,842
|
|
1,675
|
|
|
|
|
|
|
|
Provision for Income
Taxes
|
|
(592)
|
|
(523)
|
|
|
|
|
|
|
|
Net Income
|
|
$
2,250
|
|
$
1,152
|
|
|
|
|
|
|
|
Earnings Per
Share
|
|
|
|
|
|
Basic Earnings Per
Share
|
|
$
0.19
|
|
$
0.10
|
|
Diluted Earnings Per
Share
|
|
$
0.19
|
|
$
0.10
|
|
|
|
|
|
|
|
Basic
Weighted-Average Shares Outstanding
|
|
11,589
|
|
11,527
|
|
Diluted
Weighted-Average Shares Outstanding
|
|
11,706
|
|
11,653
|
|
ANI
Pharmaceuticals, Inc. and Subsidiary
|
Table 2: US GAAP
Balance Sheets
|
(in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
2018
|
|
December 31,
2017
|
Current
Assets
|
|
|
|
|
Cash and cash equivalents
|
|
$
51,970
|
|
$
31,144
|
Accounts receivable, net
|
|
54,801
|
|
58,788
|
Inventories, net
|
|
34,294
|
|
37,727
|
Prepaid income taxes, net
|
|
62
|
|
1,162
|
Prepaid expenses and other current assets
|
|
2,267
|
|
2,784
|
|
|
|
|
|
Total
Current Assets
|
|
143,394
|
|
131,605
|
|
|
|
|
|
Property and
equipment, net
|
|
21,882
|
|
20,403
|
Restricted
cash
|
|
5,002
|
|
5,006
|
Deferred tax asset,
net of valuation allowance
|
|
23,163
|
|
22,667
|
Intangible assets,
net
|
|
221,917
|
|
229,790
|
Goodwill
|
|
1,838
|
|
1,838
|
Other long-term
assets
|
|
823
|
|
829
|
|
|
|
|
|
Total
Assets
|
|
$418,019
|
|
$
412,138
|
|
|
|
|
|
Current
Liabilities
|
|
|
|
|
Accounts payable
|
|
$
4,886
|
|
$
3,630
|
Accrued expenses and other
|
|
2,612
|
|
1,571
|
Accrued royalties
|
|
11,361
|
|
12,164
|
Accrued compensation and related expenses
|
|
1,495
|
|
2,306
|
Accrued government rebates
|
|
6,471
|
|
7,930
|
Returned goods reserve
|
|
9,020
|
|
8,274
|
Current component of long-term borrowing, net of deferred financing
costs
|
|
3,805
|
|
3,353
|
|
|
|
|
|
Total
Current Liabilities
|
|
39,650
|
|
39,228
|
|
|
|
|
|
Long-term borrowing, net of deferred financing costs and current
borrowing component
|
|
68,569
|
|
69,946
|
Convertible notes, net of discount and deferred financing
costs
|
|
130,156
|
|
128,208
|
|
|
|
|
|
Total
Liabilities
|
|
238,375
|
|
237,382
|
|
|
|
|
|
Stockholders'
Equity
|
|
|
|
|
Common
stock
|
|
1
|
|
1
|
Treasury
stock
|
|
(250)
|
|
(259)
|
Additional paid-in
capital
|
|
181,649
|
|
179,020
|
Accumulated
deficit
|
|
(1,756)
|
|
(4,006)
|
|
|
|
|
|
Total
Stockholders' Equity
|
|
179,644
|
|
174,756
|
|
|
|
|
|
Total
Liabilities and Stockholders' Equity
|
|
$418,019
|
|
$
412,138
|
ANI
Pharmaceuticals, Inc. and Subsidiary
|
Table 3: Adjusted
non-GAAP EBITDA Calculation and US GAAP to Non-GAAP
Reconciliation
|
(unaudited, in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
March 31,
|
|
|
|
2018
|
|
2017
|
|
|
|
|
|
|
|
Net
Income
|
|
$
2,250
|
|
$
1,152
|
|
|
|
|
|
|
|
Add back
|
|
|
|
|
|
Interest
expense, net
|
|
3,634
|
|
2,932
|
|
Other
expense, net
|
|
61
|
|
18
|
|
Provision for income taxes
|
|
592
|
|
523
|
|
Depreciation and amortization
|
|
8,195
|
|
6,706
|
|
|
|
|
|
|
|
Add back
|
|
|
|
|
|
Stock-based compensation
|
|
1,377
|
|
1,386
|
|
Excess
of fair value over cost of acquired inventory
|
|
5,645
|
|
1,535
|
|
Expenses
related to transaction not consummated
|
|
-
|
|
477
|
|
Adjusted non-GAAP EBITDA
|
|
$21,754
|
|
$14,729
|
|
ANI
Pharmaceuticals, Inc. and Subsidiary
|
Table 4: Adjusted
non-GAAP Net Income and Adjusted non-GAAP Diluted Earnings per
Share Reconciliation
|
(unaudited, in
thousands, except per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
March 31,
|
|
|
|
|
2018
|
|
2017
|
|
|
|
|
|
|
|
|
Net
Income
|
|
|
$
2,250
|
|
$1,152
|
|
|
|
|
|
|
|
|
Add back
|
|
|
|
|
|
|
Excess of fair value over cost of acquired inventory
|
|
|
5,645
|
|
1,535
|
|
Non-cash interest expense
|
|
|
1,914
|
|
1,792
|
|
Stock-based compensation
|
|
|
1,377
|
|
1,386
|
|
Depreciation and amortization expense
|
|
|
8,195
|
|
6,706
|
|
Expenses related to transaction not consummated
|
|
|
-
|
|
477
|
|
Less
|
|
|
|
|
|
|
Tax
impact of adjustments
|
|
|
(3,940)
|
|
(4,402)
|
|
|
|
|
|
|
|
|
Adjusted non-GAAP Net
Income
|
|
|
$15,441
|
|
$8,646
|
|
|
|
|
|
|
|
|
Diluted
Weighted-Average
|
|
|
|
|
|
|
Shares
Outstanding
|
|
|
11,706
|
|
11,653
|
|
|
|
|
|
|
|
|
Adjusted
non-GAAP
|
|
|
|
|
|
|
Diluted Earnings per Share
|
|
|
$
1.32
|
|
$
0.74
|
|
ANI
Pharmaceuticals, Inc. and Subsidiary
|
Table 5:
Cortrophin® Gel Re-Commercialization Milestone
Update
|
|
|
|
|
|
|
|
|
Step
|
Duration
|
Status
|
Additional
Details
|
Manufacture
small-scale batch of corticotropin API
|
4
mos.
|
Complete
|
• Initial batch
yields similar to historical yields
|
• Analytical method
development and testing ongoing
|
Select drug
product CMO
|
6
mos.
|
Complete
|
• Drug product CMO
has been selected
|
Manufacture
intermediate-scale batches of corticotropin
API
|
4-6 mos.
|
Complete
|
• Three
intermediate-scale batches successfully completed
|
• Further
refined/modernized analytical methods and process
|
• Demonstrated
lot-to-lot consistency
|
Type C meeting
with FDA
|
|
Communications with
FDA on-going
|
• Meeting Request
submitted 4Q17; FDA granted as Type C Meeting
|
• Information
provided on ANI's regulatory plan for
re-commercialization
|
• Initial FDA
response received March 2018 with additional communications
expected 2nd Quarter 2018
|
Manufacture demo
batches of Cortrophin® Gel
|
TBD
|
Target Q3
2018
|
• Initiate
formulation / fill / finish of drug product
|
Manufacture
commercial-scale batches of corticotropin API
|
2-3 mos. per
batch
|
Target 1H
2018
|
• Scale-up
manufacturing process 5x
|
• Manufacture API
under cGMPs
|
• Finalize API
manufacturing process in preparation for process
validation/registration batches
|
Manufacture
registration batches of Cortrophin® Gel
|
2-3 mos. per
batch
|
Target end
2018
|
• Process
validation
|
• Registration /
Commercial batches
|
• Initiate
registration-enabling ICH stability studies
|
Initiate
registration stability for sNDA
|
6
mos.
|
TBD
|
• Six months of
accelerated stability from drug substance and drug product batches
at time of submission
|
sNDA
submission
|
TBD
|
TBD
|
• PAS filing - four
month PDUFA date
|
View original
content:http://www.prnewswire.com/news-releases/ani-pharmaceuticals-reports-first-quarter-2018-results-and-reaffirms-guidance-300643871.html
SOURCE ANI Pharmaceuticals, Inc.