ANI Pharmaceuticals acquires 31 generics from Teva

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ANI Pharmaceuticals acquires 31 generics from Teva

Genéricos/Novedades | Posted 17/01/2014 0 Post your comment

US-based brand-name and generics manufacturer ANI Pharmaceuticals (ANI) announced on 26 December 2013 that it had acquired 31 previously marketed generic drugs from Teva Pharmaceutical Industries (Teva).

ANI paid US$12.5 million in cash and will give a percentage of future gross profits from sales of the generics. The generics in question include 20 solid-oral immediate-release products, four extended-release products and seven liquid products.

ANI intends to start work immediately on transferring these products into its manufacturing facilities in Baudette, Minnesota, USA, and expects to launch the generics beginning in the fourth quarter of 2014. All of the products have been previously approved by the US Food and Drug Administration (FDA) as abbreviated new drug applications (ANDAs). The total current annual market for these products is US$860 million, according to IMS Health.

The move appears to be part of Teva’s strategy to get rid of what it terms ‘non-core assets’ and focus on ‘new therapeutic entities’, which could be new uses, formulations, delivery methods or combinations of existing products [1].

The acquisition of the 31 generics expands ANI’s generics product portfolio beyond the current seven marketed products and extends the ANI–Teva relationship beyond the existing generic testosterone gel partnership.

Reference

1. GaBI Online - Generics and Biosimilars Initiative. Teva cost-cutting and re-organization [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2014 Jan 17]. Available from: www.gabionline.net/Pharma-News/Teva-cost-cutting-and-re-organization

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Source: ANI Pharmaceuticals