ANI Pharmaceuticals Acquires ANDAs from Oakrum Pharma, LLC

Rhea-AI Summary

ANI Pharmaceuticals, Inc. (NASDAQ: ANIP) announced the acquisition of four abbreviated new drug applications (ANDAs) from Oakrum Pharma, LLC. This move is expected to enhance ANI's generics product portfolio and unlock value in 2023. CEO Nikhil Lalwani emphasized the acquisition's alignment with ANI's strategic focus on business development and in-house research efforts, aimed at providing essential medications. The transaction was facilitated by Bourne Partners, who served as exclusive financial advisor to Oakrum Pharma.

Positive

• Acquisition of four ANDAs enhances generics product portfolio.
• Expected product launches may unlock value in 2023.
• Strengthens ANI's focus on business development.

Negative

• Potential risks associated with FDA approvals and market competition.

BAUDETTE, Minn.--(BUSINESS WIRE)--

ANI Pharmaceuticals, Inc. (ANI or the Company) (Nasdaq: ANIP) today announced the purchase of four abbreviated new drug applications (ANDAs) from Oakrum Pharma, LLC, a privately owned biopharmaceutical company.

“We are pleased to expand our generics product portfolio with the acquisition of four limited competition ANDAs. We expect to launch these products and see the value unlock in 2023. This transaction bears further testament to ANI’s strength in business development and complements the significant investment and efforts of our internal research and development team to bring much-needed medicines to patients in need,” stated Nikhil Lalwani, President and Chief Executive Officer of ANI.

Transaction Advisor

Bourne Partners served as the exclusive financial advisor to Oakrum Pharma, LLC in this transaction.

About ANI

ANI Pharmaceuticals, Inc. is a diversified bio-pharmaceutical company serving patients in need by developing, manufacturing, and marketing high quality branded and generic prescription pharmaceutical products, including for diseases with high unmet medical need. Our team is focused on delivering sustainable growth by building a successful Purified Cortrophin^® Gel franchise, strengthening our generics business with enhanced development capability, innovation in established brands and leveraging our North American manufacturing capabilities. For more information, please visit our website www.anipharmaceuticals.com.

Forward-Looking Statements

To the extent any statements made in this release deal with information that is not historical, these are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, those relating to the commercialization and potential sales of the product and any additional product launches from the Company’s generic pipeline, other statements that are not historical in nature, particularly those that utilize terminology such as “anticipates,” “will,” “expects,” “plans,” “potential,” “future,” “believes,” “intends,” “continue,” other words of similar meaning, derivations of such words and the use of future dates.

Uncertainties and risks may cause the Company’s actual results to be materially different from those expressed in or implied by such forward-looking statements. Uncertainties and risks include, but are not limited to, the risk that the Company may face with respect to importing raw materials; competition from other products; acquisitions; contract manufacturing arrangements; delays or failure in obtaining and maintaining product approval from the U.S. Food and Drug Administration; general business and economic conditions; market trends; products development; regulatory and other approvals and marketing.

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 10-K and quarterly reports on Form 10-Q, as well as other filings with the SEC. All forward-looking statements in this news release speak only as of the date of this news release and are based on the Company’s current beliefs, assumptions, and expectations. The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220728005357/en/

Investor Relations:

Lisa M. Wilson, In-Site Communications, Inc.

T: 212-452-2793

E: lwilson@insitecony.com



Media Contact:

Faith Pomeroy-Ward, ANI Pharmaceuticals

T: 817-807-8044

E: faith.pomeroyward@anipharmaceuticals.com

Source: ANI Pharmaceuticals, Inc.

FAQ

What did ANI Pharmaceuticals acquire?

ANI Pharmaceuticals acquired four abbreviated new drug applications (ANDAs) from Oakrum Pharma, LLC.

How will the acquisition impact ANI Pharmaceuticals?

The acquisition is expected to enhance ANI's generics product portfolio and unlock value through anticipated product launches in 2023.

Who advised on the ANI Pharmaceuticals acquisition?

Bourne Partners served as the exclusive financial advisor to Oakrum Pharma in this transaction.

What are the risks associated with ANI Pharmaceuticals' recent acquisition?

Risks include potential delays in FDA approvals and competition from other products in the market.