ANI Pharmaceuticals Provides Update on Closing of Acquisition of Alimera Sciences

Rhea-AI Summary

ANI Pharmaceuticals (Nasdaq: ANIP) has provided an update on the status of its previously announced acquisition of Alimera Sciences (Nasdaq: ALIM). The company acknowledges Alimera's press release and states that it continues to work in good faith toward closing the acquisition. ANI attributes any delay to ongoing discussions regarding closing conditions, which it expects to resolve promptly. The update suggests that the acquisition process is still active, but certain details are being finalized before the transaction can be completed.

Positive

• ANI Pharmaceuticals is actively working towards closing the acquisition of Alimera Sciences
• The company expects to resolve closing condition discussions promptly

Negative

• Delay in completing the previously announced acquisition of Alimera Sciences
• Unresolved closing conditions causing potential setback in the acquisition process

PRINCETON, N.J., Sept. 10, 2024 (GLOBE NEWSWIRE) -- ANI Pharmaceuticals, Inc. (“ANI” or “the Company”) (Nasdaq: ANIP) today provided an update on the status of the completion of its previously announced acquisition of Alimera Sciences, Inc. (“Alimera”) (Nasdaq: ALIM).

We note the Alimera press release issued today. The Company continues to work in good faith toward closing of the acquisition. Any delay is a result of discussions regarding closing conditions, which the Company expects to resolve promptly.

About ANI Pharmaceuticals, Inc.

ANI Pharmaceuticals, Inc. (Nasdaq: ANIP) is a diversified biopharmaceutical 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. ANI is focused on delivering sustainable growth by scaling up its Rare Disease business through its lead asset Purified Cortrophin® Gel, strengthening its Generics business with enhanced research and development capabilities, delivering innovation in Established Brands, and leveraging its U.S. based manufacturing footprint.

Forward-Looking Statements

This press release contains forward-looking statements. Such risks and uncertainties include, among others, the risks and uncertainties related to market conditions and satisfaction of closing conditions related to the Alimera acquisition and risks relating to ANI’s business, including those described in periodic reports that ANI files from time to time with the SEC. ANI may not consummate the acquisition described in this press release. Any risks and uncertainties could materially and adversely affect ANI’s results of operations, which would, in turn, have a significant and adverse impact on ANI’s stock price. Any forward-looking statements contained in this press release speak only as of the date hereof, and ANI specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor Relations:
Lisa M. Wilson, In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

FAQ

What is the current status of ANI Pharmaceuticals' acquisition of Alimera Sciences?

ANI Pharmaceuticals is still working towards closing the acquisition of Alimera Sciences, but there are ongoing discussions regarding closing conditions causing a delay in the process.

Why is there a delay in ANI Pharmaceuticals (ANIP) completing the Alimera Sciences acquisition?

The delay is attributed to discussions regarding closing conditions. ANI Pharmaceuticals expects to resolve these promptly to proceed with the acquisition.

How is ANI Pharmaceuticals (ANIP) addressing the delay in the Alimera Sciences acquisition?

ANI Pharmaceuticals states that it continues to work in good faith toward closing the acquisition and expects to resolve the closing condition discussions promptly.

What impact might the delay have on ANI Pharmaceuticals' (ANIP) acquisition of Alimera Sciences?

While the delay may postpone the completion of the acquisition, ANI Pharmaceuticals remains committed to the deal and expects to resolve the outstanding issues promptly, suggesting minimal long-term impact.