ANIP

ANI Pharmaceuticals, Inc. develops, manufactures, and markets branded and generic prescription pharmaceuticals, specializing in niche and high-barrier-to-entry products. Headquartered in Baudette, Minnesota, the company operates manufacturing facilities in Minnesota and New York, employing approximately 450 people. ANI's diverse portfolio includes generic solid oral dosage forms, liquids, topicals, and controlled substances, alongside branded products in pain management, thyroid therapy, and cardiovascular treatments. Key branded products include Cortrophin Gel, a rare disease treatment for multiple sclerosis relapses and infantile spasms, and Purified Cortrophin Gel. The company's generic portfolio features products in attention deficit hyperactivity disorder (ADHD), pain management, and anti-infective categories. ANI has expanded significantly through strategic acquisitions, including the 2022 purchase of Novitium Pharma's generic oral solid business for $240 million and the 2023 acquisition of Alimera Sciences' ophthalmic product Iluvien. The company generates annual revenues exceeding $300 million and maintains specialized expertise in complex manufacturing processes and regulatory approval pathways. ANI focuses on developing differentiated generic products with limited competition and growing its rare disease and specialty pharmaceutical franchises. The company's vertically integrated manufacturing capabilities provide competitive advantages in controlling quality and supply chain management for both its proprietary brands and contract manufacturing operations.