ANI Pharma Inks Deal With IDT Australia To Commercialize US Generic Drugs

(RTTNews) - Specialty pharmaceutical company ANI Pharmaceuticals, Inc. (ANIP) announced that it has signed an agreement with global generic manufacturer IDT Australia, Ltd. to commercialize up to 18 previously marketed US generic drug products. The deal will enable INI to further expand its marketed generic product portfolio.

ANI paid IDT $1.0 million for exclusive rights to commercialize the products in the North American market.

ANI will share in a percentage of net profits upon commercialization, which percentage was not disclosed. The total current annual U.S. market for these products is $538 million on a trailing 12 month basis per IMS Health.

IDT anticipates filing a CBE-30 for the first product in the fourth quarter of 2015.