ANI Pharmaceuticals, Inc. has entered an agreement with IDT Australia, Ltd. to commercialize as many as 18 marketed U.S. generic drug products. ANI paid $1.0 million for exclusive rights to the North American market and will share in a percentage of profits upon commercialization. The total current annual U.S. market for these products is $538 million according to IMS Health. 
 
Arthur S. Przybyl, president and chief executive officer of ANI Pharmaceuticals, stated, “This partnership represents a substantial opportunity for ANI to further expand our marketed generic product portfolio. We are excited to establish this relationship with a high quality global generic manufacturer such as IDT.”
 
Dr. Paul MacLeman, managing director and chief executive officer of IDT, said, “In many ways ANI is an ideal US partner for IDT as it has a proven track record having already successfully commercialized its own generic drugs, is nimble and shares IDT’s zest for growth. Culturally the two companies are a good fit and the terms of the agreement are fair to both parties. We are very much looking forward to working with the ANI team to grow sales and create value.”