The transaction is expected to close in the second quarter of 2016, subject to certain closing conditions. Financial terms were not disclosed.
Arthur S. Przybyl, ANI's president and chief executive officer said, "We are excited to add these extended release products to the ANI commercial portfolio. The acquisition, which is consistent with our strategy of pursuing limited competition generic products and mature brands, will be material to our revenue and EBITDA in 2016. We plan to provide updated financial guidance upon closing the transaction."