ANI PHARMACEUTICALS, INC. (NASDAQ:ANIP) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
On January 8, 2020, ANI Pharmaceuticals, Inc. (the “Company” or "ANI") entered into and closed on an Asset Purchase Agreement (the “Agreement”) with Amerigen Pharmaceuticals Ltd. (the “Seller”) and acquired the Seller\’s right, title, and interest in its U.S. product portfolio of ten commercialized products, three FDA approved products with launches pending, four filed products and four in-development products as well as a license to commercialize two approved products (the “Acquired Assets”).
In consideration for the purchase of the Acquired Assets, the Company paid to the Seller $52.5 million in cash, and agreed to pay contingent milestone payments over the next four years (provided that in no event will these milestone payments exceed $25 million in the aggregate). The contingent milestone payments are earned in cash in an amount equal to 50% of the Company’s net profits on commercial sales of certain Seller products in excess of $16.0 million, $14.0 million, $12.0 million, and $11.0 million during each of the 2020, 2021, 2022, and 2023 calendar years, respectively.
The information set forth in Item 1.01 above is incorporated by reference into this Item 2.01.
(d) Exhibits.
| 99.1 | Press release, dated January 9, 2020, relating the acquisition of the Acquired Assets |
ANI PHARMACEUTICALS INC Exhibit
EX-99.1 2 tm201613d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 ANI Pharmaceuticals Announces Acquisition of Commercial and Pipeline Generic Products from Amerigen Pharmaceuticals,…
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About ANI PHARMACEUTICALS, INC. (NASDAQ:ANIP)
ANI Pharmaceuticals, Inc. is an integrated specialty pharmaceutical company. The Company is engaged in developing, manufacturing and marketing branded and generic prescription pharmaceuticals. The Company’s focused areas of product development include anti-cancer (oncolytics), hormones and steroids, and complex formulations. Its generic products include Esterified Estrogen with Methyltestosterone, Etodolac, Flecainide, Fluvoxamine, Hydrocortisone Enema, Methazolamide, Metoclopramide Syrup, Nimodipine, Opium Tincture, Oxycodone Oral Solution, Propafenone and Vancomycin. Its branded products include Cortenema, Lithobid, Reglan and Vancocin. It has over two pharmaceutical manufacturing facilities located in Baudette, Minnesota that are capable of producing oral solid dose products, as well as liquids and topicals, controlled substances, and potent products. Its two facilities have a combined manufacturing, packaging and laboratory capacity totaling approximately 173,000 square feet.
