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ANI Pharmaceuticals (ANIP) Surges on Generic Products Acquis

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Post# of 84

Posted On: 12/27/2013 5:17:57 PM

Posted By: karnacua2

Shares of ANI Pharmaceuticals, Inc. (ANIP) surged on Friday's market activity after the company reported that it has acquired 31 previously marketed generic-drug products from Teva Pharmaceuticals for $12.5 million in cash and a percentage of future gross profits from product sales.

ANIP will begin work immediately on transferring these products into its manufacturing facilities in anticipation of product launches beginning in the fourth quarter of 2014. All of these products have been previously approved by FDA as abbreviated new drug-applications (ANDAs). The total current annual market for these products is $860 million per IMS Health.

According to ANIP , when launched, these products will strengthen the company's business by growing its revenue base and leveraging its manufacturing capabilities.

ANIP is an integrated specialty pharmaceutical company developing, manufacturing, and marketing branded and generic prescription pharmaceuticals.

More about ANI Pharmaceuticals, Inc. (ANIP) at www.anipharmaceuticals.com .

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