ANI Pharmaceuticals Stock Moves Higher By 16 Percent Amid Quarter Results

ANI Pharmaceuticals, Inc. (ANIP) today released its financial results for the third quarter ended September 30, 2021. The Company announced that the FDA approved its supplemental New Drug Application (sNDA) for Purified Cortropin Gel, a treatment for certain chronic autoimmune disorders. ANIP stock surges over 16% today, jumping from $37.38 to $43.42. Cortrophin Gel will be launched in the first quarter of 2022, and the acquisition of Novitium Pharma will close in November 2021. Cortrophin Gel is a new treatment option for patients with severe acute exacerbations of various diseases, and it can be used in combination with other approved drugs.

ANI Pharmaceuticals has received approval for Cortrophin Gel, which is a repository of corticotropin for the treatment of patients with severe chronic diseases such as arthritis and multiple sclerosis. This product will be launched in the first quarter of 2022 and is expected to be used by healthcare professionals. At an inflection point, ANI is at a stage where it can deliver sustainable growth. The company has achieved key milestones, and its strategy is on track. During the third quarter ended September 30, 2021, contract manufacturing revenues grew by 10.7% to reach $2.4 million. The increase was mainly due to a mix shift in customers’ sales mix towards higher average selling prices.