BAUDETTE, Minn., June 18, 2019 /PRNewswire/ -- ANI
Pharmaceuticals, Inc. ("ANI") (Nasdaq: ANIP) today announced that
it has acquired a pipeline of seven development stage generic
products from Coeptis Pharmaceuticals, Inc. for $2.3 million dollars in cash and up to
$12.0 million in additional
development and commercial milestones. As part of the agreement,
ANI will pay a portion of gross profit generated from one of the
injectable products to the commercial manufacturing partner.
Included in the purchase price, ANI is also acquiring raw materials
(API), manufacturing and packaging components, and reference drug
valued at approximately $1.5M
combined. The portfolio includes three oral and four injectable
products and has a combined current annual U.S. market value of
$1.02 billion according to IQVIA and
ANI estimates.
Six of the products are currently in development at third
parties with commercial manufacturing sites already established.
The seventh product, a liposomal-based injectable, is in
development at a third party and ANI will seek to identify a
commercial manufacturing partner in the near-term.
Arthur S. Przybyl, ANI's
President and CEO stated, "We are excited to add these seven drugs
to our generic product pipeline. Importantly, our growing
injectable pipeline now stands at six drugs. With strong cash flows
and a healthy balance sheet, ANI is well positioned to continue
pursuing business development opportunities to further expand our
brand, generic and contract manufacturing business segments."
Pittsburgh, PA based Coeptis
Pharmaceuticals' President & CEO, Modi Obochi, stated,
"We are very thrilled to have divested these products to ANI
Pharmaceuticals and for them to assume further development and
commercialization of these products. ANI's growing product
portfolio and industry expertise position it well to maximize the
value of the products."
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.
About Coeptis Pharmaceuticals
Coeptis Pharmaceuticals, Inc. is a privately held
biopharmaceutical company engaged in the acquisition, development
and commercialization of innovative products that are developed via
the 505(b)2 pathways. It recently acquired FDA-approved Consensi™
(a combination of amlodipine and celecoxib), which is indicated for
patients for whom treatment with amlodipine for hypertension and
celecoxib for osteoarthritis are appropriate and plans to launch
Consensi™ later this year. The company has put together a team with
demonstrated successes growing revenues and shareholder value and
has several other 505(b)2 products at various stages of
development. For more information, please visit
www.coeptispharma.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.