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-- Divestiture Required by FTC of Two Generic Products Immaterial to Company’s Business --
BAUDETTE, Minn.--(BUSINESS WIRE)--
ANI Pharmaceuticals, Inc. (Nasdaq: ANIP) (ANI or the Company) today announced that the U.S. Federal Trade Commission (the FTC) has accepted the proposed consent order in connection with ANI's definitive agreement to acquire Novitium Pharma. The divestitures required by the FTC of development rights to one generic drug and assets with respect to another generic drug are immaterial to the Company’s business.
The acceptance by the FTC satisfies all required antitrust clearances needed to be obtained for the acquisition of Novitium Pharma by ANI. The closing of the acquisition remains subject to other customary closing conditions set forth in the purchase agreement. ANI currently expects that the acquisition will be completed on or about November 18, 2021.
About ANI Pharmaceuticals, Inc.
ANI Pharmaceuticals is a diversified bio-pharmaceutical company serving patients in need by developing, manufacturing, and marketing high quality branded and generic prescription pharmaceutical products, including for diseases with high unmet medical need. For more information, please visit www.anipharmaceuticals.com.
Forward Looking Statements
Statements made in this release that are not strictly historical, including the statements regarding the anticipated acquisition of Novitium Pharma and the timing thereof and any other statements regarding events or developments that we believe or anticipate will or may occur in the future are forward-looking statements within the meaning of the federal securities laws.
Uncertainties and risks may cause the Company’s actual results to be materially different than those expressed in or implied by such forward-looking statements. Uncertainties and risks include, but are not limited to, the parties' ability to satisfy the remaining acquisition agreement closing conditions, including the concurrent closing of the debt and equity transactions related thereto, and consummate the acquisition of Novitium Pharma on the anticipated timetable and terms or at all. More detailed information on these and additional factors that could affect the Company’s actual results are described in the Company’s filings with the Securities and Exchange Commission (SEC), including its most recent annual report on Form 10-K and quarterly reports on Form 10-Q, as well as other filings with the SEC. All forward-looking statements in this news release speak only as of the date of this news release and are based on the Company’s current beliefs, assumptions, and expectations. The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
ani pharmaceuticals is an integrated specialty pharmaceutical company focused on delivering value to our customers by developing, manufacturing, and marketing high quality branded and generic prescription pharmaceuticals. we focus on niche and high barrier to entry opportunities including controlled substances, anti-cancer (oncolytics), hormones and steroids, and complex formulations. our two pharmaceutical manufacturing facilities located in baudette, minnesota are capable of producing oral solid dose products, as well as liquids and topicals, controlled substances, and potent products that must be manufactured in a fully-contained environment. our objective is to create long term shareholder value by building a sustainable and growing base business in generic and mature brand pharmaceutical products while advancing an opportunity to re-commercialize cortrophin gel and cortrophin-zinc.
