Ani Pharmaceuticals, Inc. · NASDAQ:ANIP
Ani Pharmaceuticals — Merger or Acquisition (June 2024)
24 slides from Ani Pharmaceuticals's merger presentation, Jun 24, 2024
Slide 1: Acquisition of Alimera Sciences, Inc.
© 2024 ANI Pharmaceuticals, Inc. 1 Acquisition of Alimera Sciences, Inc. June 24, 2024
Slide 2: Disclaimer
© 2024 ANI Pharmaceuticals, Inc. 2 Disclaimer This presentation contains not only historical information, but also forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company’s
Slide 3: Additional Information
© 2024 ANI Pharmaceuticals, Inc. 3 Additional Information More detailed information on these and additional factors that could affect the Company’s actual results are described in the Company’s filings with the Securities and Exchange Commission (SEC), including its most recent annual report on Form
Slide 4: Speakers
© 2024 ANI Pharmaceuticals, Inc. 4 Nikhil Lalwani President and Chief Executive Officer Chris Mutz Head of Rare Disease Steve Carey Chief Financial Officer Speakers
Slide 5: Agenda
© 2024 ANI Pharmaceuticals, Inc. 5 Nikhil Lalwani (President and Chief Executive Officer) Overview & Strategic Rationale Chris Mutz (Head of Rare Disease) Commercial Overview Stephen Carey (Chief Financial Officer) Financial Overview & Transaction Details Q&A Nikhil Lalwani (President and Chief Exec
Slide 6: Agenda
© 2024 ANI Pharmaceuticals, Inc. 6 Nikhil Lalwani (President and Chief Executive Officer) Overview & Strategic Rationale Chris Mutz (Head of Rare Disease) Commercial Overview Stephen Carey (Chief Financial Officer) Financial Overview & Transaction Details Q&A 1 2 3 4 Agenda Nikhil Lalwani (President
Slide 7: Deal snapshot
© 2024 ANI Pharmaceuticals, Inc. 7 Deal snapshot Substantial value creation for shareholders of both companies Key Deal Terms $5.50 per share in cash (~75% premium to June 21 closing price) CVR of up to $0.50 per share Transaction value of $381M Closing expected in late Q3 2024, subject to c
Slide 8: Rare Disease pro-forma revenues expected to increase to ~45% of Company revenues
© 2024 ANI Pharmaceuticals, Inc. 8 Rare Disease pro-forma revenues expected to increase to ~45% of Company revenues, largest future growth driver Generics, Established Brands, and Other Rare Disease Cortrophin Gel Alimera Acquired Novitium in November 2021 Launched in January 2022 Announced in June
Slide 9: Further strengthens ANI's Rare Disease business as largest driver of future growth
© 2024 ANI Pharmaceuticals, Inc. 9 Further strengthens ANI’s Rare Disease business as largest driver of future growth Expected to add ~$105M pro forma revenues making Rare Disease ~45% of Company revenues Combination enhances an attractive Rare Disease growth platform serving patients across the
Slide 10: Transaction aligned with M&A strategy
© 2024 ANI Pharmaceuticals, Inc. 10 Transaction aligned with M&A strategy Expands Scope and Scale of Rare Disease Business Priority Therapeutic Area Assets with Growth & Durability ● Ophthalmology as a percentage of total ACTH prescribers has almost doubled to more than 10% over four years(1) ● Doub
Slide 11: Potential for meaningful expansion in Rare Disease and total Company revenues
© 2024 ANI Pharmaceuticals, Inc. 11 Potential for meaningful expansion in Rare Disease and total Company revenues Total Company Revenues ($ millions)(1) Rare Disease Revenues ($ millions)(1) 2021 2022 2023 2024E $216 $316 $487 $520-$542 $625-$647 ANI Pharmaceutical Alimera Sciences 2022 2023 2024E 1
Slide 12: ANI's Rare Disease business focuses on patients not well served by other therapies
© 2024 ANI Pharmaceuticals, Inc. 12 ANI’s Rare Disease business focuses on patients who are not well served by other therapies • Idiopathic Nephrotic Syndrome • Lupus Nephritis • Systemic Dermatomyositis • Sarcoidosis • Keratitis • Chronic Non-Infectious Uveitis Posterior Segment • Rheumatoid Arthri
Slide 13: Chronic Non-Infectious Uveitis and Diabetic Macular Edema
© 2024 ANI Pharmaceuticals, Inc. 13 Chronic Non-Infectious Uveitis ● Disease state: Chronic non-infectious uveitis affecting the posterior segment (NIU-PS) is inflammation of the eye that can lead to pain, visual impairment and vision loss ● Over 500,000 patients in U.S., many of working age, with n
Slide 14: Agenda
© 2024 ANI Pharmaceuticals, Inc. 14 Nikhil Lalwani (President and Chief Executive Officer) Overview & Strategic Rationale Chris Mutz (Head of Rare Disease) Commercial Overview Stephen Carey (Chief Financial Officer) Financial Overview & Transaction Details Q&A 1 2 3 4 Agenda Nikhil Lalwani (Presiden
Slide 15: ANI Rare Disease would combine three commercial products with growth and durability
© 2024 ANI Pharmaceuticals, Inc. 15 ANI Rare Disease would combine three commercial products with growth and durability US Indications Diabetic macular edema (DME) Non-infectious uveitis affecting the posterior segment (NIU-PS) Severe acute and chronic allergic and inflammatory conditions affecting
Slide 16: Combined sales team expected to accelerate growth across the ophthalmology business
© 2024 ANI Pharmaceuticals, Inc. 16 Combined sales team expected to accelerate growth across the ophthalmology business Combined efforts expected to expand the ability to drive appropriate utilization of all three products for patients in need Deployed a targeted ophthalmology-focused salesforce in
Slide 17: Positioned for robust topline growth
© 2024 ANI Pharmaceuticals, Inc. 17 11 Positioned for robust topline growth ILUVIEN and YUTIQ are double digit growth assets… … with significant potential as part of ANI Expanded sales force promoting three products to accelerate growth ANI commercial team excels at identifying patients who are not
Slide 18: The most underserved patient group within DME represents more than 50,000 patients in the US
© 2024 ANI Pharmaceuticals, Inc. 18 The most underserved patient group within DME represents more than 50,000 patients in the US alone DME epidemiology model flow – inputs informed by ANI’s market research Diagnosed DME population: ~3% = ~900,000 patients Treated DME population: ~50% = ~450,000 Pati
Slide 19: Long-term clinical studies, real-world use, and ongoing trials
© 2024 ANI Pharmaceuticals, Inc. 19 110 patient eyes enrolled to receive YUTIQ Recruitment completed in January 2024 Topline data readout expected 2H 2024 Largest head-to-head (306 patients) comparison of any corticosteroid therapy and anti-VEGF therapy in the treatment of newly diagnosed patients s
Slide 20: Establishes global commercial footprint for ANI's Rare Disease business unit
© 2024 ANI Pharmaceuticals, Inc. 20 17 Establishes global commercial footprint for ANI’s Rare Disease business unit Direct commercial operations in • United States • Germany • United Kingdom • Portugal • Ireland High-quality partnerships throughout Europe, the Middle East, and Asia Alimera gener
Slide 21: Agenda
© 2024 ANI Pharmaceuticals, Inc. 21 Overview & Strategic Rationale Chris Mutz (Head of Rare Disease) Commercial Overview Stephen Carey (Chief Financial Officer) Financial Overview & Transaction Details Q&A 1 2 3 4 Agenda Nikhil Lalwani (President and Chief Executive Officer) Stephen Carey (Chief Fin
Slide 22: Transaction overview
© 2024 ANI Pharmaceuticals, Inc. 22 Transaction overview Consideration ANI to acquire all outstanding shares of Alimera for up-front consideration of approximately $381 million comprised of: • $5.50 per share in cash (~$320M) • Pay-off of $72.5M of Alimera debt net of estimated Alimera cash at tim
Slide 23: Agenda
© 2024 ANI Pharmaceuticals, Inc. 23 Overview & Strategic Rationale Chris Mutz (Head of Rare Disease) Commercial Overview Stephen Carey (Chief Financial Officer) Financial Overview & Transaction Details Q&A 1 2 3 4 Agenda Nikhil Lalwani (President and Chief Executive Officer) Stephen Carey (Chief Fin
Slide 24: Acquisition of Alimera Sciences, Inc.
© 2024 ANI Pharmaceuticals, Inc. 24 Acquisition of Alimera Sciences, Inc. June 24, 2024
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