ANI Pharmaceuticals Acquires Development Stage Drug Products from Coeptis for USD 2.3m.
M2 EQUITYBITES-June 19, 2019-ANI Pharmaceuticals Acquires Development Stage Drug Products from Coeptis for USD 2.3m
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19 June 2019 - Minnesota, US-based ANI Pharmaceuticals, Inc. (NASDAQ: ANIP) has acquired a pipeline of seven development stage generic products from Pennsylvania, US-based Coeptis Pharmaceuticals, Inc. for USD 2.3m in cash, the company said.
The transaction includes up to USD 12m 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 USD 1.5m combined.
The portfolio includes three oral and four injectable products and has a combined current annual US market value of USD 1.02bn 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.
ANI Pharmaceuticals, Inc. is an integrated specialty pharmaceutical company developing, manufacturing, and marketing branded and generic prescription pharmaceuticals.
The company's targeted areas of product development currently include narcotics, oncolytics (anti-cancers), hormones and steroids, and complex formulations involving extended release and combination products.
Coeptis Pharmaceuticals, Inc. is a biopharmaceutical company engaged in the acquisition, development and commercialiaation of innovative products that are developed via the 505(b)2 pathways.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jun 19, 2019|
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