ANI Pharma buys 31 generic drugs from Teva
Emerging US generic drugmaker ANI Pharmaceuticals (Nasdaq: ANIP) says that it has acquired 31 previously marketed generic drug products from Israeli generics giant Teva Pharmaceutical Industries (NYSE: TEVA).
Under the terms of the deal, Teva will receive $12.5 million in cash and a percentage of future gross profits from product sales. ANI's shares rose 5.1% to $18 in after hours trading on December 26.
The acquisition includes 20 solid-oral immediate release products, four extended release products and seven liquid products. ANI will begin work immediately on transferring these products into its manufacturing facilities in anticipation of product launches beginning in the fourth quarter of 2014.
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