ANI Pharma To Buy Novitium Pharma For $163.5 Mln - Quick Facts

(RTTNews) - ANI Pharmaceuticals Inc. (ANIP) said that it agreed to buy Novitium Pharma, a privately held, New Jersey-based pharmaceutical company with development, manufacturing, and commercialization capabilities, for $163.5 million. The deal price includes $89.5 million in cash and $74 million in equity plus two potential future cash earn-outs of up to $46.5 million.

ANI expects the transaction to be accretive to its adjusted non-GAAP earnings per share in the first 12 months after closing. It expects to close the deal in the second half of 2021.

ANI noted that it will finance the transaction with a new $300 million Term Loan B, issuance of $74 million in equity to the sellers, and a $25 million PIPE investment by Ampersand Capital Partners.