ANI Pharma Buys Four NDAs From AstraZeneca For $46.5 Mln

(RTTNews) - ANI Pharmaceuticals, Inc. (ANIP) announced that it has acquired the NDAs and U.S. rights to market ATACAND, ATACAND HCT, ARIMIDEX, and CASODEX from AstraZeneca for $46.5 million in cash, royalties, and sales-based milestones.

AstraZeneca will continue to market and supply ATACAND, ATACAND HCT, ARIMIDEX, and CASODEX outside of the U.S. The acquired assets include the NDAs for all four products and a license to their trademarks. The acquisitions were funded through a combination of cash and debt.

Collectively, these products generated approximately $19 million in U.S. market sales during the trailing twelve months through October 2017, according to IMS Health.

Separately, ANI Pharmaceuticals announced that it has entered a new five-year Senior Secured Credit Facility for up to $125 million with Citizens Bank. The Facility is comprised of a $75 million five-year term loan that was closed today in support of ANI's acquisition of four NDAs acquired from AstraZeneca for $46.5 million in cash as previously announced this morning.

In addition, the term loan has been utilized to refinance existing indebtedness of $25 million that was outstanding against ANI's now retired $30 million asset-based revolving credit facility with Citizens Bank. This Facility also includes a $50 million Senior Secured Revolving Credit Facility which remains un-drawn at this time.