BAUDETTE, Minn., Aug. 1, 2014 /PRNewswire/ -- ANI
Pharmaceuticals, Inc. (Nasdaq: ANIP) today announced that it has
acquired the US rights for Vancocin® 125 mg and 250 mg capsules
from Shire plc, a global biopharmaceutical company. In
addition, ANI acquired from Shire approved ANDAs for the currently
non-marketed products vancomycin hydrochloride injectable 500 mg, 1
gm and 10 gm ($45 million in 2013
market value, per IMS Health) and vancomycin hydrochloride oral
solution 250 mg and 500 mg. ANI paid $11 million in cash for the rights to Vancocin®
together with existing inventories on hand. Following a
transition period, ANI intends to launch Vancocin® capsules under
its own label during the fourth quarter of 2014. The transaction is
immediately accretive and sales of Vancocin® capsules are expected
to generate approximately $5.4
million in revenues and $4
million in non-GAAP EBITDA annually.
Arthur S. Przybyl, ANI's
President and CEO stated, "We are excited to add Vancocin® capsules
to our portfolio of mature brand products. In addition, we
will immediately begin exploring opportunities to launch both
vancomycin injectable and vancomycin oral solution. Year to
date we have invested $23 million in
two mature brand acquisitions that will contribute a combined
$9.4 million in annual revenues and
$8 million in annual non-GAAP EBITDA.
At the same time, we are continuing to advance our internal
generic product development pipeline while selectively pursuing
acquisitions and partnerships that augment those efforts."
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 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:
Arthur S. Przybyl
(218) 634-3608
arthur.przybyl@anipharmaceuticals.com
SOURCE ANI Pharmaceuticals, Inc.