Business
ANI Pharmaceuticals to Further Expand Rare Disease Business through Acquisition of Alimera Sciences
Conference call scheduled for today at 8:30 a.m. ET Strengthens Rare Disease segment as largest driver of future growth, expected to add approximately $105
About this update from Ani Pharmaceuticals, Inc.
[{"type":"text","content":"Conference call scheduled for today at 8:30 a.m. ET Strengthens Rare Disease segment as largest driver of future growth, expected to add approximately $105 million in highly durable branded revenueAdds two commercial assets ILUVIEN® and YUTIQ® with significant growth potential, expanding ANI’s foothold in key strategic therapeutic area of ophthalmology Anticipated to drive high single digit to low double digit accretion in adjusted non-GAAP EPS in 2025 and to be substantially accretive thereafterExpected to generate additional $35 - $38 million in 2025 adjusted non-GAAP EBITDA inclusive of approximately $10 million in identified cost synergies; additional EBITDA contribution expected from accelerated growth of Purified Cortrophin® Gel in ophthalmologyIncreased geographic diversification with Alimera’s established ex-US footprint, including direct operations in Europe PRINCETON, N.J. and ATLANTA, June 24, 2024 (GLOBE NEWSWIRE) -- ANI Pharmaceuticals, Inc. (Nasdaq: ANIP) (“ANI” or the “Company”) and Alimera Sciences, Inc. (Nasdaq: ALIM) (“Alimera”) today announced they have signed a definitive agreement pursuant to which ANI will acquire Alimera for $5.50 per share in cash at closing and one non-tradable contingent value right (CVR) representing the right to receive up to $0.50 per share upon the achievement of certain net revenue targets in 2026 and 2027. The transaction, which values Alimera at approximately $381 million in up front consideration, has been approved by both the ANI and Alimera Boards of Directors and is expected to close late in the third quarter of 2024, as further described below. Alimera is a global pharmaceutical company whose mission is to be invaluable to patients, physicians and partners concerned with maintaining better vision longer. Alimera’s two commercial products treat diabetic macular edema (DME) and chronic non-infectious uveitis affecting the posterior segment (NIU-PS) of the eye. ILUVIEN (fluocinolone acetonide intravitreal implant 0.19mg) is indicated for DME in the U.S., Europe and the Middle East as well as for NIU-PS in Europe and the Middle East. YUTIQ (fluocinolone acetonide intravitreal implant 0.18mg) is available in the U.S. only and is indicated for the treatment of chronic NIU-PS. Nikhil Lalwani, President and CEO of ANI, stated, “We believe this is a transformational acquisition for A...