Business
ANI Pharmaceuticals Completes Acquisition of Novitium Pharma, Significantly Enhancing R&D Capabilities and Scale of Generics and CDMO Businesses
-- Combined company creates generics growth engine with technical capabilities to bring complex, high-value products to market in efficient and cost effect
About this update from Ani Pharmaceuticals, Inc.
[{"type":"text","content":"\n-- Combined company creates generics growth engine with technical capabilities to bring complex, high-value products to market in efficient and cost effect manner --\n\n-- Proven track record with largest number of Competitive Generic Therapy (CGT) approvals --\n\n-- Deep pipeline with a focus on niche opportunities, including 505(b)(2) candidates in Oncology and Hypertension --\n\n-- Pro-forma September 30, 2021 YTD revenues are $202.5 million and non-GAAP EBITDA $66.6 million --\n\n-- Founders Samy Shanmugam and Chad Gassert to join Executive Team and Mr. Shanmugam to join Board of Directors --\n\n-- Immediately accretive to Adjusted non-GAAP earnings per share --\n\n-- New capital structure in place --\n\n BAUDETTE, Minn.--(BUSINESS WIRE)--\nANI Pharmaceuticals, Inc. (Nasdaq: ANIP) (ANI or the Company) today announced that it has completed the previously announced acquisition of Novitium Pharma, a privately held, New Jersey-based pharmaceutical company with development, manufacturing, and commercialization capabilities.\n\n“Today marks a major milestone for ANI and the many patients who rely on our high-quality, cost-effective medications. With the completion of this acquisition, we bring on board a world-class R&D engine in the generic and 505 (b)(2) sectors, and a highly-compliant U.S. based manufacturing facility, positioning us well for sustainable long-term growth. Novitium has continued to perform in-line or above our investment thesis since deal signing on March 9th with thirteen new product approvals, strong quarter-on-quarter EBITDA growth and a successful FDA GMP inspection completed in July 2021,” stated Nikhil Lalwani, President and Chief Executive Officer of ANI.\n\n“ANI is thrilled to welcome the expertise and leadership of Novitium’s founders, Samy Shanmugam, Chad Gassert and Vijay Thorappadi, along with over 100 talented and dedicated employees, who have joined the ANI team. Our robust product pipeline includes several more CGT and 505 (b)(2) candidates and will be further expanded to maximize the value of our bolstered R&D engine,” concluded Lalwani.\n\nSamy Shanmugam, co-founder of Novitium and ANI’s new Head of Research & Development and Chief Operating Officer of New Jersey Operations added, “Today is an exciting day for all of our employees, as we combine the complementary strengths of our two platforms...