ANI Pharmaceuticals, Inc., (“ANI”) (Nasdaq: ANIP) today announced the acquisition of the U.S. portfolio of 23 generic products from Amerigen Pharmaceuticals, Ltd. for $52.5M in cash at close and up to $25M in contingent profit share payments over the next four years. The contingent payments are earned when annual gross profit exceeds a minimum threshold and are earned on a subset of the acquired products. The acquired portfolio includes ten commercial products, three approved products with launches pending, four filed products and four in-development products as well as a license to commercialize two approved products. The transaction was funded from cash on hand.
Arthur S. Przybyl, ANI’s President and CEO stated, “This exciting acquisition, which is immediately accretive to our non-GAAP adjusted EBITDA, substantially increases our commercial portfolio and late stage generic pipeline. Over the next several years we see meaningful opportunity to generate incremental synergy as we leverage ANI’s sales infrastructure and internal capabilities in warehousing, distribution, manufacturing and packaging.”
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