ANI Pharmaceuticals deal boosts injectable portfolio
ANI Pharmaceuticals is expanding its injectable products portfolio. The company announced it has entered into a distribution agreement with a U.S. based injectable manufacturer to commercialize a unique specialty injectable product.
Key terms of the 10-year agreement include cumulative milestones of up to $2 million, payable by ANI. Upon launch, ANI will receive a 50% share of net profits generated from product revenues.
The product, for which there are currently no other generics commercially available, recently received FDA approval. It will be commercialized in the ANI label.
"With today's announcement, we have added a second specialty injectable product to our pipeline, the first product being Cortrophin gel. We are excited to further expand into injectable dosage form drug products," said Arthur Przybyl, ANI’s president and CEO. "We believe injectables represent future growth opportunities for ANI and as such we intend to pursue additional investments in the injectable space. These investments could be in the form of acquisitions, joint ventures and partnerships and may include vertical integration into injectable sterile manufacturing."
Key terms of the 10-year agreement include cumulative milestones of up to $2 million, payable by ANI. Upon launch, ANI will receive a 50% share of net profits generated from product revenues.
The product, for which there are currently no other generics commercially available, recently received FDA approval. It will be commercialized in the ANI label.
"With today's announcement, we have added a second specialty injectable product to our pipeline, the first product being Cortrophin gel. We are excited to further expand into injectable dosage form drug products," said Arthur Przybyl, ANI’s president and CEO. "We believe injectables represent future growth opportunities for ANI and as such we intend to pursue additional investments in the injectable space. These investments could be in the form of acquisitions, joint ventures and partnerships and may include vertical integration into injectable sterile manufacturing."