ANI Pharmaceuticals To Acquire Two NDAs From Merck For $75 Mln - Quick Facts

(RTTNews) - Specialty pharmaceutical company ANI Pharmaceuticals, Inc. (ANIP) announced that it has agreed to acquire the NDAs for purified corticotropin gel and corticotropin-zinc hydroxide from healthcare giant Merck & Co., Inc. (MRK) ), known as MSD outside the U.S. and Canada, for $75 million in cash and a percentage of future net sales.

The assets will be acquired by foreign subsidiary to achieve more favorable tax treatment for ANI. The acquisition significantly advances ANI's core strategy of re-commercializing previously approved products.

ANI estimates that the current annual U.S. market for the products it is acquiring is about one billion dollars as evidenced by sales of H.P. Acthar gel marketed by Mallinckrodt Pharmaceuticals. The acquisition is being funded through cash on hand and is subject to certain customary closing conditions.

Corticotropin gel is a purified corticotropin (ACTH) in a sterile solution of gelatin for prolonged activity. Corticotropin-zinc hydroxide (sterile corticotropin zinc hydroxide suspension USP) is a sterile aqueous suspension of purified corticotropin (ACTH) with zinc hydroxide for repository action.

The products are approved for various disease states including Multiple Sclerosis, Rheumatic disorders, Dermatologic diseases, and a variety of Collagen, Ophthalmic, Respiratory diseases as well as Allergic and Edematous states.