ANI Pharma buys 22 generic drugs from Teva for $25 million

In a second deal with the Israel-based generics giant, US drugmaker ANI Pharmaceuticals (Nasdaq: ANIP) has acquired 22 previously marketed generic drug products from Teva Pharmaceuticals Industries (NYSE: TEVA) for $25 million in cash and a percentage of future gross profits from product sales.

The acquisition includes 19 solid-oral dosage products, and three oral suspension products. ANI will initially focus to tech transfer four products that qualify as CBE30 filings into ANI's two manufacturing facilities; these four products have a combined trailing 12 month market value of $210 million, according to IMS Health. The total market value for the 22 products is $650 million on a trailing twelve month basis, per IMS Health, said ANI. The acquisition is being funded through cash on hand.

The company previously, acquired 31 generic drug products from Teva, which included 20 solid-oral immediate release products, four extended release products and seven liquid products, for $12.5 million in cash and a percentage of future gross profits from product sales (The Pharma Letter December 27, 2013).