ANI Pharmaceuticals Acquires 22 Generic Drug Products From Teva For $25 Mln

(RTTNews) - Specialty pharmaceutical company ANI Pharmaceuticals, Inc.(ANIP) announced that it has acquired 22 previously marketed generic drug products from Israeli generic drugmaker Teva Pharmaceuticals Industries Ltd. (TEVA) for $25 million in cash and a percentage of future gross profits from product sales.

The deal includes 19 solid-oral dosage products, and 3 oral suspension products. ANI will initially focus to technology transfer four products that qualify as CBE30 filings into ANI's two manufacturing facilities. These four products have a combined trailing twelve month market value of $210 million, according to IMS Health.

The total market value for the 22 products is $650 million on a trailing twelve month basis, per IMS Health. The acquisition meaningfully expands ANI's product pipeline to 68 products with a total market value of $3.9 billion, per IMS Health. The acquisition is being funded through cash on hand.