ANI Pharmaceuticals, Inc. 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, 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 injectable, is in development at a third party and ANI will seek to identify a commercial manufacturing partner in the near-term.
Arthur S. Przybyl, ANI’s President and CEO stated, “We are excited to add these seven drugs to our generic product pipeline. Importantly, our growing injectable pipeline now stands at six drugs. With strong cash flows and a healthy balance sheet, ANI is well positioned to continue pursuing business development opportunities to further expand our brand, generic and contract manufacturing business segments.”
Pittsburgh, PA based Coeptis Pharmaceuticals’ President & CEO, Modi Obochi, stated, “We are very thrilled to have divested these products to ANI Pharmaceuticals and for them to assume further development and commercialization of these products. ANI’s growing product portfolio and industry expertise position it well to maximize the value of the products.”
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Date: June 24, 2019
Source: Cision
