ANI Pharmaceuticals, Inc. has acquired 31 marketed generic drug products from Teva Pharmaceuticals for $12.5 million in cash, as well as a percentage of future profits on product sales. The acquisition includes 20 solid-oral immediate release products, four extended release products, and seven liquid products. ANI is transferring these products to its manufacturing facilities and anticipates product launches beginning in 4Q14. All of the products are approved by the FDA as abbreviated new drug applications (ANDAs). The market for these products is estimated to be valued at $860 million according to IMS Health.
Arthur S. Przybyl, president and chief executive officer of ANI Pharmaceuticals, said, "This acquisition is a significant opportunity for ANI to expand our generic product portfolio beyond our current seven marketed products. When launched, these products will strengthen our business by growing our revenue base and leveraging our manufacturing capabilities. We are excited that this transaction extends the ANI-Teva relationship beyond the existing generic testosterone gel partnership."
Robert W. Schrepfer, vice president of new business development, said, "This transaction demonstrates ANI's commitment to diversify our marketed product portfolio and supplement our internal product development efforts through a business development plan that includes partnerships, acquisitions and in-licensing."