ANI Pharmaceuticals, Inc. has completed an agreement with IDT Australia, Ltd. to commercialize up to 18 previously marketed U.S. generic drug products. ANI paid $1 million for exclusive rights to commercialize the products in the North American market. ANI will share in a percentage of net profits upon commercialization. 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. Dr. Paul MacLeman, Managing Director and CEO of IDT, said, “In many ways ANI is an ideal US partner for IDT as it has a proven track record having already successfully commercialized its own generic drugs, is nimble and shares IDT’s zest for growth. Culturally the two companies are a good fit and the terms of the agreement are fair to both parties. We are very much looking forward to working with the ANI team to grow sales and create value.”