ANI Pharmaceuticals Acquires Three NDAs And One ANDA From Sandoz - Quick Facts

(RTTNews) - ANI Pharmaceuticals, Inc. (ANIP) announced Tuesday that it has acquired the new drug applications (NDAs) for Oxistat Lotion, Veregen Ointment, and Pandel Cream and the abbreviated new drug application (ANDA) for ApexiCon E Cream from Sandoz Inc.

Pandel Cream will be transitioned later upon receiving the requisite approvals. Collectively, these products generated net revenues of $13.2 million in 2020. The acquisition was funded through borrowings under the Company's pre-existing revolver credit facility.

In conjunction with the acquisition, ANI and Sandoz have entered into a multi-year manufacturing and supply agreement for Oxistat Lotion, Pandel Cream and ApexiCon E Cream.

ANI intends to transfer the manufacture and packaging of these three products to its own manufacturing sites in the future.