ANI Pharma Acquires Generic Drugs From Teva - Quick Facts

(RTTNews) - ANI Pharmaceuticals Inc. (ANIP) said Thursday it has acquired 31 previously marketed generic drug products from Teva Pharmaceuticals (TEVA) for $12.5 million in cash and a percentage of future gross profits from product sales.

The acquisition includes 20 solid-oral immediate release products, 4 extended release products and 7 liquid products.

ANI said it will begin work immediately on transferring these products into its manufacturing facilities in anticipation of product launches beginning in the fourth quarter of 2014.

All of these products have been previously approved by FDA as abbreviated new drug applications. The total current annual market for these products is $860 million per IMS Health.