ANI Pharmaceuticals has $169 million available for M&A activities

By Lisa Kerner

Charlotte, N.C., April 14 – ANI Pharmaceuticals, Inc. president and chief executive officer Art Przybyl said the company has $169 million in cash on its books for accretive acquisitions.

There is no shortage of assets for sale in the marketplace, Przybyl said. He noted that ANI is willing to do almost any size transaction either privately or publicly.

M&A transactions are part of the company’s three-prong strategy that includes growing development and eventual commercialization of the 46 products in its pipeline, and growing organically from products ANI already has in the marketplace.

Przybyl made his comments on Tuesday during a presentation at Needham & Co.’s 14th Annual Healthcare Conference in New York City.

ANI also raised $200 million through two financings that will also provide capital to pursue acquisitions, said Przybyl.

In March of 2014, ANI netted about $47 million from a common stock financing, and in late 2014, the company closed a convertible debt offering of about $144 million, according to Przybyl.

At Dec. 31, ANI had total net revenues of $56 million. Looking ahead, the company is guiding for net revenues of between $80 million and $88 million for 2015.

Baudette, Minn.-based ANI is a specialty pharmaceutical company targeting development of narcotics, oncolytics, hormones and steroids and extended-release and combination products.

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