ANI Pharmaceuticals Expands Generic Pipeline with Acquisition of Seven Development Stage Drug Products from Coeptis Pharmaceuticals, Inc.
ANI Pharmaceuticals, Inc. (ANIP)
Last ani pharmaceuticals, inc. earnings: 2/27 08:30 am
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Source: PR Newswire
BAUDETTE, Minn., June 18, 2019 /PRNewswire/ -- ANI Pharmaceuticals, Inc. ("ANI") (Nasdaq: ANIP) today announced that it has acquired a pipeline of seven development stage generic products from Coeptis Pharmaceuticals, Inc. for $2.3 million dollars in cash and up to $12.0 million in additional development and commercial milestones. As part of the agreement, ANI will pay a portion of gross profit generated from one of the injectable products to the commercial manufacturing partner. Included in the purchase price, ANI is also acquiring raw materials (API), manufacturing and packaging components, and reference drug valued at approximately $1.5M combined. The portfolio includes three oral and four injectable products and has a combined current annual U.S. market value of $1.02 billion according to IQVIA and ANI estimates.Six of the products are currently in development at third parties with commercial manufacturing sites already established. The seventh product, a liposomal-based injectabl
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