Generics company based in a small Minnesota town drawing interest from Wall Street
BAUDETTE, Minn. - ANI Pharmaceuticals is carving out a name for itself as a niche generic player here, according to a report published Monday by the MinnPost.
The report profiles ANI Pharmaceuticals, which is located in a small town 300 miles north of Minneapolis.
According to the report, ANI grew its per share price from $20.08 at the end of 2013 to more than $67.12 in trading today. The company's revenue is on a similar upward trajectory, having tripled in the past two years to $56 million in 2014.
And the company estimates sales of $80 million to $88 million for 2015, MinnPost reported.
In 2014, ANI spent $35.5 million in three separate deals to acquire products - Lithobid, which treats patients with bipolar disorder; Vancocin, an antibiotic used to treat infections; and EEMT, an estrogen drug used to treat symptoms of menopause. The two new drugs have been helping to drive ANI’s growth. But the company’s biggest seller is an estrogen drug known as EEMT, which is used to treat symptoms of menopause. In 2014, EEMT accounted for 42 percent of ANI’s total sales.
Growing niche generic products that were languishing in larger pharmaceutical houses is ANI's specialty, the report noted. And with $169 million cash on hand, ANI is looking to acquire more niche generics going forward.