Company Spotlight: ANI Pharmaceuticals

(RTTNews) - In today's Spotlight column, the company we are featuring is ANI Pharmaceuticals Inc. (ANIP).

ANI Pharma develops, manufactures and markets branded and generic prescription pharmaceuticals, and also provides contract manufacturing services to select clients.

The Company markets 23 generic prescription pharmaceuticals, 7 branded prescription pharmaceuticals, and offers contract manufacturing services to 4 customers.

ANI Pharmaceuticals also has a well-stocked pipeline - with 71 generic products and 5 branded products in development, addressing a total annual market size of $3.7 billion, based on data from IMS Health.

Of particular interest in the branded product pipeline is the re-commercialization of Cortrophin Gel and Cortrophin-Zinc, which according to the Company is a strategic opportunity.

Cortrophin Gel is used as a diagnostic agent in the screening of patients presumed to have adrenocortical insufficiency. Cortrophin-Zinc (Zinc Hydroxide) is a topical skin product that is used as a protective coating for mild skin irritations and abrasions. (Source: MIN).

The following is the latest update related to Corticotropin re-commercialization.

"The manufacturing of an intermediate scale batch of Corticotropin API by ANI Pharma's active pharmaceutical ingredient ("API") manufacturer is expected to be completed in the third quarter of 2017. Shortly after completing the first intermediate scale batch of API, the Company intends to manufacture a second intermediate scale batch, starting the third quarter of 2017. ANI Pharma has identified a finished dosage form contract manufacturer and intends to initiate Corticotropin finished dosage form manufacturing in the third quarter of 2017. The Company intends to meet and present its Regulatory Filing Plan to the FDA in the second half of 2017".

Recent event:

On August 3, 2017, the Company reported strong second quarter financial results.

In the recent second quarter, net income rose to $2.68 million or $0.23 per share on revenues of $44.76 million. This compared with a net income of $1.12 million or $0.10 per share and revenue of $31.34 million in the year-ago quarter. Adjusted non-GAAP earnings per share were $0.98 in Q2, 2017, up from $0.75 in the comparable year-ago quarter.

Looking ahead, the Company expects net revenues for 2017 to be between $181 million and $190 million, and adjusted non-GAAP earnings per share to be between $3.58 and $3.94. In 2016, the net revenue was $128.6 million and adjusted non-GAAP net income per share was $3.78.

Shares of ANI Pharma have traded in a range of $42.23 to $69.85 over the last 1 year. The stock closed Thursday's trading at $45.76, up 2.46%. When we first alerted this stock to our premium subscribers in November 2013, it was trading around $11.42.