ANI Pharmaceuticals, Inc. has acquired ANDAs for 23 previously marketed generic drug products from IDT Australia, Ltd. ("IDT") for $2.6 million and a limited single-digit royalty for one product.
Additionally, ANI acquired active pharmaceutical ingredient for one of the acquired products for $135 thousand. In 2015, ANI had secured the U.S. licensing rights and 40% to 50% of the net profits upon commercialization for these products from IDT for $1.0 million. This acquisition gives ANI full control of the re-commercialization program and the vast majority of the economics for these products. The total current annual U.S. market for these products is approximately $500 million, per Iqvia/IMS Health.
Arthur S. Przybyl, president and chief executive officer of ANI stated, "This acquisition advances our strategy of building a pipeline of previously approved generic drug products that can be re-commercialized via a CBE-30 (changes being effected in thirty days) or prior approval supplement filing. The acquisition also allows us to continue to leverage our U.S. based manufacturing plants to launch generic products and expand our commercial portfolio. We look forward to executing additional launches from this basket of ANDAs in the future."
