ANI Pharma Profit Rises

(RTTNews) - ANI Pharmaceuticals Inc (ANIP) Monday reported first-quarter net earnings of $3.4 million or $0.33 per share compared with $0.3 million last year.

Revenues for the quarter were $10.9 million compared with $5.6 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.32 per share on revenues of $11.4 million for the quarter. Analysts' estimates typically exclude special items.

During the quarter, ANI completed a $12.5 million acquisition of 31 generic products from Teva Pharmaceuticals, and entered into a development agreement for a generic drug with Sterling Pharmaceutical Services.