ANI purchases rights to Shire antibiotic

|About: ANI Pharmaceuticals, Inc. (ANIP)|By:, SA News Editor

ANI Pharmaceuticals (NASDAQ:ANIP) acquires the U.S. rights to Shire's (NASDAQ:SHPG) Vancocin (vancomycin hydrochloride) 125 mg and 250 mg capsules plus the approved ANDAs for vancomycin hydrochloride injectable (500 my, 1 gm, 10 gm) and oral solution 250 mg and 500 mg.

ANI paid $11M in cash for the rights and existing inventory. It intends to launch the products under its own label in Q4 2014. The transaction will be immediately accretive and is expected to add $5.4M in revenues and $4M in non-GAAP EBITDA per year.