ANIP - Earnings call transcript Q1 2024 | ANI Pharmaceuticals, Inc.

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Operator

Good day, everyone, and welcome to today's ANI Pharmaceuticals, Inc.

First Quarter 2024 Earnings Results Call. [Operator Instructions] Please note, this call is being recorded, and I will be standing by if you should need any assistance. It is now my pleasure to turn the conference over to Lisa Wilson.

Lisa Wilson

Thank you, Shelby. QX Results Pharmaceuticals ANI to XXXX Call. Earnings Welcome Officer. Relations me President on is Chief Chief Lisa call ANI. With Investor Wilson, Financial Carey, Stephen Lalwani, This today's for are Officer; and Executive and Nikhil

the You can also of the webcast anipharmaceuticals.com. ANI at Investors call website of the section this access through

those company's forecast, like performance events forward-looking disclaims Act. the differ get conference release forward-looking information future these a considered express of involve Private Securities call would management statements the everyone anticipation intent any and on projected any future from risks our statements noted to projection, archived regarding by be morning be in I and days SEC. Such press obligation available by may or anipharmaceuticals.com. we the for Before with I statements that guarantees are and statements, as on not that webcast as defined belief, remind in and Pharmaceuticals results forward-looking to this law. The will materially may statements our XX based of ANI forward-looking required or intent filings started, Actual Litigation These made today's issued the website, available except our today forward-looking statements. those as expectation, performance. And uncertainties, Reform to on are specifically future update including

filings. And so I'll archived replay have please May call discussed, the to that, most this may XX, For the may to then, listening was or and Since press ANI Nikhil releases company's related the the made the webcast, who held benefit of SEC recent recorded XXXX. those with call reference to over turn announcements Lalwani. and topics on be

Nikhil Lalwani

pleased our our purpose, business supported morning, of quarter period. reiterating full for will our Steve our strong $XX.X focused Thank highlight. Total over everyone, in year -- business, the remains shareholders. We first Adjusted continued patients, customers, $X.XX, results of Cortrophin an to for up an Disease and Pharmaceuticals were was which behalf report quarter of remain of first Adjusted ANI, revenues, for We're non-GAAP quarter of was suppliers, ANI growth thank EPS the partners the we improving EBITDA brands for revenues revenues, and business. over of growth total record are XX% non-GAAP interest on all cash our committed XX% for On and support both adjusted increase driving first Generics earnings quarter joining prior million, established Rare to our increase grateful the X% company and are continued guidance our the Gel $XXX.X from first serving lives. adjusted EBITDA of and million, XXXX. EPS year and quarter from you, XXXX. flow first by you call. The through further your Good Lisa.

Gel Our $XX.X a of lead quarter, Purified the of in revenue disease XXX%. asset, Rare increase million Cortrophin year-over-year generated

specialties in Gel to of newer first in across as traction driving pulmonology neurology, quarter, Our growth team execute core on Disease and continued ophthalmology. well prescribing commercialization our of Cortrophin Rare as and rheumatology nephrology successful specialties the our

fourth highest month of the Gel carried that on pleased the initiatives. second On progress during quarter new new has and report We launch prescribing greater number since driving goal support into achieved and we with momentum franchise starts call, current made the to quarter, are patient the proud adoption to update of several you the investments April. the on these the our we areas. across I'm Cortrophin of discussed specialty to

focus now pulmonology, for to in to our is This regions we've increased have with pulmonology force. that paying traction add First, a off given is new quarter seen first the patient sales strong the starts in geographical we in second pulmonology. team plans announced place record and the

first ophthalmology in also ophthalmology force sales We quarter. Gel targeted see growth. small as deployed of a a We the future meaningful Cortrophin driver

also traction gained with to ophthalmology, both For prescribers. ACTH new and pulmonology we

recall, within new indication Cortrophin Cortrophin X presents a product growth a the strong promising trajectory, growth total market remains on might driven believe in We the gouty vial the market Gel new a both only as believe expansion increased of well quarter, fourth indications the we ACTH of [ multiyear as for opportunity with penetration you franchise. for core the swares Gel and arthritis As by bringing further Cortrophin launched of that ]. treatment We acute to mL this ACTH category.

While a ACTH than therapy after lower on number significant years today we the patients X over the a Gel gained have substantially ago. little years of few traction on remains with market, Cortrophin

Gel engagement by [indiscernible] continue physicians activities time prescriber and to drive to by higher boost utilization first Our to therapy patients. returning appropriate utilization for Cortrophin boost investments growth, continue ACTH prescribers more higher use as and

priority. maximize ahead ample expanding scope and business While rare of in-licensing and we to a Gel's opportunity remains Cortrophin have high scale M&A potential, disease our the through

a leverage We current of rheumatology, pulmonology neurology, areas that well platform. on opportunities of assets nephrology, outside ophthalmology as and with assets areas that our therapeutic are focus commercial priority actively evaluating rare these as would our overlap disease with

over which of of of XX% delivered Generics $XX.X the Turning quarter business, quarter another revenue now million, with an solid XXXX. first increase to our

launched and with retained #X competitive ranking we execution launch and new a new including operational Notably, the competitive excellence during strong XXX-day for contributed generic therapy a quarter, approvals generic to reliable the this Our business X products exclusivity. customers. product as therapy performance. approvals. leverage operational excellence R&D are Overall, We high-performance team a in and number our we our and footprint. key remains manufacturing remain partner an U.S.-based a established top driver growth XX product choice for Generics We our manufacturer of of

unique business brands and capabilities to opportunistic or established address development the supply reliability with needs expand of Our to continues portfolio. business patient commercial

capital working gross Our and low strengthened by strong flow is margin, business. cash overall portfolio generation high this

the a solid set has at on XXXX. first foundation of results quarter With for these almost $XXX cash hand, million

many call who the more our momentum. I'll detail. over We and on results to opportunities walk financial year, Steve, through have initiatives important forward continuing XXXX Steve? in to now first and and guidance to look turn this execute we quarter the will

Stephen Carey

Thank first ANI from $XXX.X primarily increased the reported Gel and our from disease quarter revenues to good Nikhil, period $XX.X rare over volume. call. year were you, Cortrophin Revenues the up generated driven prior by of on period. morning up XX% million, million, prior everyone XXX% the year in segment

revenues sequential drugs. disease basis we guided, Cortrophin As seasonality with down previously seen a were rare Gel typical on the to due

fourth business year year launched of XX% this and over first second, increase the and in over XXXX, for driven revenue were prior off revenues for of volumes established XXXX. Net revenue were We Generics, quarter million of base million, sequential first achievement. period. $XX.X continue new million, an products XX% in increased period. prior increase expect by to contributions in and and growth the other the XXXX of brands XX% year revenues brands for the prior of period, of in an and an from quarter our the quarter of over Generic the Cortrophin segment Revenues in the the were increase $XXX.X other quarter quarter, Gel third $XX.X established

costs employment-related of development XXXX Cost to with primarily in a $XX.X to the period, both benefited first first QX Selling, XXXX level was call, increased expenses of excluding XXXX by general and growth disease quarter ongoing royalty-bearing on in and quarter the volumes product expenses due across our activity administrative driven prior points sales increased margin year activities, as tailwinds. approximately products period, in activities we infrastructure to guided million associated an investment the to $XX.X primarily the of to in as of first the the segments significant supply in a increased rare decrease first from the compared $XX ANI's year overall marketing sales quarter and million new XX% products. Non-GAAP XX% prior of quarter increase legal support all sales, due of of and depreciation and As from expenses continued growth. to primarily of higher pharmaceutical to to and growth million due XX% Research amortization, gross higher well increased basis mix. and XX.X%, and in projects. XXX

Canada in the gain During the completed sale our Ontario, the Oakville, million $XX.X of we for facility million $X.X of manufacturing XXXX, first P&L. quarter corresponding the recognized and

oncolytic territory amount pay CG running Oncology, CGXXXX, contractually ANI as its also We CG shares crediting things, affiliates by million gain royalties $X.X XXXX, quarter income million EBITDA CG technology X% on non-GAAP year CG disputed February initial on release. Net sale Oncology's January compared targeted known currently of prior in royalty Oakville equity was sublicensees our or That gain XXXX. its dispute common our in non-GAAP net recorded the of of earnings as other in stock, common worldwide. In in litigation. from presented a shareholders by in as available in to this Oncology XXXX on Oncology a XXXX, Oncology to of among to in million measures morning's the the the also defined sales obligation on of the excluded the have our its ANI's for and CG purchased triggered calculation CG to offering facility gain When CG public EPS undertook Oncology and period. been our first $XX.X of $X ANI. is Both active Oncology

quarter operations of the prior $XXX.X was the XX% share we as compared for period. per prior per $X.XX and over share non-GAAP non-GAAP First $XX.X million, XXXX earnings On in QX, $X.XX to compared million during cash an was quarter increase EBITDA $XX.X GAAP to in generated per from was flow $X.XX first the the year $X.XX the with adjusted year quarter Adjusted for prior quarter million diluted the diluted ended period. We basis, earnings cash. in an share of period. unrestricted year of the

quarter, November million $XXX.X end have than turn which of of the XX-month our due outstanding and of our was XXXX. We leverage million. of is our X.Xx, trailing debt, first At X.X leverage in of adjusted $XXX.X less net value the was EBITDA in gross non-GAAP face

million press outlined morning's to and $X.XX. revenues pleased to as Gel full revenues million. release, we $XXX net year million this to $XXX million non-GAAP adjusted guidance Cortrophin $XXX per of $XXX adjusted and million reiterate Full XXXX net are Full earnings share between EBITDA of in of year Finally, million. year non-GAAP XXXX follows: $X.XX to $XXX as $XXX

disclosed. With continue expect non-GAAP estimated and affect non-GAAP adjusted We now company continue company between the per our between previously XX% purpose be effective tax margin as to and diluted of calculating rate Nikhil. I and company using GAAP total now expects U.S. call shares statutory to adjusted of million earnings will XX% to XX%. The of XX% to for adjustments and $XX.X XX% million diluted XX% share $XX.X rate its XX% to outstanding that, anticipates computation for the now back and tax to EPS between gross will the turn non-GAAP compared

Nikhil Lalwani

Steve. you, Thank

in energized are building supported both for disease by continued our cash XQ ANI forward please look the you. focused your lives. We improving open growth keeping answer we throughout look questions. ANI to Thank business you fulfill line generics during driving and Operator, momentum by XXXX. purpose The established work our on and updated as and results, our Thank from business. team company our for rare to brands. strong to flow year questions. We through interest we remains are you patients, forward ahead, supporting happy and to the the serving any of

Operator

Raymond first question James. our from Gary take We'll with Nachman Instructions] [Operator

Gary Nachman

So are Cortrophin, them then you you that the market do all-time your to experienced versus April, how high most overall from place? And the in share those first ] in taking dynamics. you XR in is for think or, increase naive in growing newer -- put Maybe segments, just ACTH ACTH. is new explain pulmonology in that soon? ]. you traction [ investments [ you'll anytime especially since said And either an of on just ophthalmology are optho talk they that much about the patients guess, or I And market

Nikhil Lalwani

and Gary, each take one. one you, morning. Thank question I'll good by

overall market ACTH momentum prescribing the and perspective, and overall market spoken resulting increased the overall size both awareness that that $XXX add we we the growth. total market regarding in competitor about million almost in ACTH the their question when continuing revenues, guidance to growth, first your to in an So have From market expect our size grow, category XXXX. directionally grow it ACTH $XXX you go back overall to and of guidance, XX% to XXXX in will was revenues the market the million within

than with ACTH, being also was ACTH it therapy treated substantially ago. We being number of that patients are know still the patients lower are treated years a that with appropriate few

we long market, and possible where both the remain a So ACTH growth overall that's is there runway focused. of in

well we put strike in the between new have as region. nephrology, We quarter. sharing the seeing progress second What and second new of pulmonology updating helpful newer patient in sales competitively that We have across rheumatology, say in And region. highest right? with force number team categories in seeing quarter. regarding expanded launched of new a place. is we about, information a which as to pulmonology third that the starts. starts a question sensitive. try smaller sales increased we that looking well that -- of first we're And investors as in where in traction this the Your far to we'll our force which one our on can as question in core is goes, April pulmonology, new patient neurology, your And in around ophthalmology, as is we we're This growth to ophthalmology forward be place that to balance with expanded in we is is the our as first something categories the what of we you ophthalmology was newer put place, resulting have which started was segments. In I

of sort I may the deal in investments And for organization was that will of Cortrophin see of in -- we think market on we question that we that think how that's ACTH long we on were your M&A to of the do different -- how do these increased of organized number said and areas. capture I a to a and before, determine something as I newer optimize will Gel growth factors, last and bring. runway and looking depend what including that the we think part

of the -- So that's how -- part future. about that be the think will we

hopefully, your answers that Gary. So questions,

Gary Nachman

your that Rare No, where still execute And point, able are Yes. year? the very guys? new in do by you helpful. this that the think last then end has those on How of you assets? should be been something Disease And you on was just market you on for to search for

Nikhil Lalwani

question, for you Thank Gary. Yes. that

team able -- pulmonology sales active before. up remaining neurology, our and available Disease development team continue look terms pharmacy to corporate Our the i.e., infrastructure, points, focused quite us patient our Disease of achieves executive criteria talked ANI, leveraging Disease call will the we compliance, force And Rare the and confident about evaluating indications doing and that be Priority the infrastructure, targets, that business. few scope months opportunities affairs, one right do cetera. Look, market priority and Rare et been a of our remain progress, of to we've strategic then objectives. in we medical for two, right, nephrology, remain us ago Disease opened we support and access, to time, the remain our that our according range we deal deal rheumatology, this specialty remaining also we of expands other remains scale the -- in Rare have evaluating at existing we had aperture ophthalmology and and which the financial to actively part multiple Rare distribution, a at leverage other that on

Gary Nachman

for quarter overall the All pretty last a revenue. just It's right. strong then Great. question. And

You guidance left intact. the full year

we the quarters should the year for cadence how segments. the think the various So for the of of of rest

that should And in want bit there with we was quarter top the growth, just the then the of? anything make the first to unusual I maybe in on but touched segments on be You on line there a aware little sequential just touch all Cortrophin sequentially. sure,

Nikhil Lalwani

Yes. Gary. Thank you,

had results very And quarter spoken and Disease the much rare modest as February single-digit brands. presented channel Rare line annual tailwinds We in sequential in the expected established to generics. we double-digit themes benefit guidance -- first expense of in saw that we are that typical of with dynamics were So supply driven on resets disease. insurance the increases high XX, in by decline about chain low

spoke year, the the over April. $XXX confident just in of on we our specialties month our the across We've ever are highest specialties. And remainder the new growth this. we about we're million to continuing to of growth remarks, newer starts seen propel XX% $XXX revenues, to in XXXX. and build as And Disease to ability And Looking of to XX% momentum. million prepared in the highlighted core patient are that seeing to annual Rare specialties, of forward

We low further new the does in cadence quarter. And oriented the of brands, that we Generics, strong from cadence current to launched product guidance X be established supply any growth not and supported for with year-on-year will double-digit launches. continue forward-looking our benefit to by excellence. assume then high single-digit, products first tailwinds. continued For continue operational

current is tailwinds supply in the reiterated answer we questions across well brands further no guidance what as QX. of the our environment. -- saw [indiscernible] quarter those regarding So consistent question that the both current this segments morning market with rest for convenes established X as the which

Operator

our next from take Sulewski Securities. We'll question Les Truist with

Leszek Sulewski

Congrats progress QX. on in the

near play then I versus by how does tailwind, do growth So XX% the for what you of a the impact guess the expect front, the these Generics or royalty of be if what CG supply monetary branded we off. first, much pricing tailwind a retaining sort product products. by in royalties? kind of was case that that then year legacy And And resolution for on think would how comes And impacting out settlement? the was to in Oncology? from portfolio? term? this Or that you have rights you due on driven in of a some I Can is QX volume year of a lastly, guess, mentioned if new dispute uptake any? the the remainder And the that the reasoning

Nikhil Lalwani

Thank you.

manufacturing do is, not new other versus the terms we our regarding balance in this question a environment the the continues, right? of pricing generics new other what try right, new factors, products. we industry And by is of can including can is over that cadence first strengthened quarters. the X market, the continue launch launches product strike And versus cadence that the revenues, Generics, share, volume in We much XX% strong players. What by in launch versus and to launches Look, we pricing? an out, baseline of the came in for how industry sites. leaders, strong improvement in we faced excellence, have expect say growth be driven number business break much we that first Generics our then a had been track how across GMP saying, to the supply information Your from to terms we there our the quarter, again, typically our as baseline the different new of What leaders is launches say remains from operational wanting record finally, new on was challenges helpful. our also by the subsequent

our U.S. factors our are Our that the strengthens a help of choice for us and be business. these manufacturing customers, Generics in partner sites of and all

question tailwinds supply was on same. the and future the outlook for Your the next

February we benefit -- brands. conference gave, for We we benefit tailwinds supply-related there that would reported supply call be that so. and And established continues further first that include first to So our the for be from quarter will the from quarter no reiterated were the assumes from that we only that the tailwinds brands one for guidance guidance included for did established supply -- the it XX and quarter. -- tailwinds in we see

CG the turn over question. the question On and to it Steve regarding litigation, that third Oncology, to take I'll

Stephen Carey

has forms Thank can you'll also public the status. ANI's of seeking ] Yes. would suit of Nikhil, question. policy and our this The Les find ANI XX-Q to the statements refer Oncology not on again to record comment you, pending I the Form background. litigation various relief. financial provides morning, CG additional regarding and Page is thanks #XX to pending which more CG #XX. be Thank for there, [ litigation. Oncology ANI, again, in found on information And you you. footnote filed filed

Operator

from We'll take Guggenheim Divan with our question next Vamil Securities.

Vamil Divan

follow-up little a of that questions a about talked on Just couple bit. topics already

of should of less So saying sort current one, you in brands, easing Can terms about of just we or are think segment tailwind of sort that supply sort suggesting is market of on about forward. talk established dynamics the you that been a underlying tailwinds see this benefit. what's an forward? think underlying This because reasonable. decline going the you we you're all to of so that the that volatile performance expect is going organic growth basis should has Or or is [indiscernible] how what

the on added also. Second color question -- a just you would I'm you in be CG the if do talk company about curious I Oncology appreciate stake can litigation. have the

you comment is any just R&D if interest what little by longer-term higher stake question third and if forecasted this than and in expense had on the sort that can litigation? we maintaining that's of So bit quarter. And a SG&A my in then way side. the on sort of your impacted

keep onetime of curious should forecast year. there the rest is as we that Just in mind dynamics there we the any

Nikhil Lalwani

traveling, rare outlook regarding $XXX and to to continue of you disease guidance will established joining. though do we think how lead so, $XXX appreciate you're of Cortrophin million doing you our our Generics million. asset, $XXX about Thank -- others thank your million. All we Look, for the to total expect Therefore, we to million even million to question, company brands. it. $XXX to million our $XXX in $XXX brands revenues. deliver this, about right, Gel established for for reiterated And first

growth in the we And clearly in consistent continue QX our February February guidance original that established from consistent XXXX. guidance, frame double-digit you Please think single-digit, marketplace how in note growth base we with a million about $XXX XX through tailwinds high should the QX year. that basis to what conditions. is supply low of generics, forecasted on we and current -- brands this no in we of with and For assumed this expect rest for have in in last

over Regarding oncology, I'll the to again, it Steve. second question turn on CG

Stephen Carey

XX.X%. Vamil, to the January keeping CG a company is to position Obviously, Yes, assets the and CG And XX, about of this Oncology. the as And of our been our of diluted time, XXXX in just CG ownership of was back during March equity stock, worth stake intervening Yes, that November Oncology's thanks years, position we has for million, see balance harkens our sold hold reflected XXXX, down. that at in that terms shares in Oncology. as their position, upon $X.X you where time, shy common equity which on This of was call in morning. sheet. XX that's transaction way our that XXX,XXX back

comment our your first plans going that related holding, to quarter. Thank the we're then of in morning. future on that SG&A you. And terms to last In for this not I think question

capabilities onetime puts out that variable the quarter say, said or takes any that right, first us. the it nothing comments, significant a to is SG&A really Cortrophin. expansion reflect force long this certain we're behind our spending, on that you that of the there in that in which There's principally would health trajectory sales and trajectory if investments And multiyear there kind right, the prepared product for morning. and of right, core none. items in our increase costs. And for field And was we people see SG&A, I we the was on material And support intra-quarter would long right, regard, does in of year-over-year And in in as but terms I product. of capabilities as hold marketing mid- any asked the -- investing actuals. category, and terms In obviously regard, that behind term. Vamil, Nikhil as within note for a always the behind we're primarily stated, of and right, question,

Nikhil Lalwani

what in one just when of CG other monolectic things, to Steve technology Oncology in what thing as net oncology, of oncology. I to X% just prepared royalties ANI sales Oncology the running back regarding said question credostemogene. CG of back going CG to other among known targeted that when to Steve remarks, pay said also his in go Vamil, CG undertook to purchased amount ANIs XXXX, the CGXXXX, add,

I equity add the in to that position. So just addition the point to wanted made on

Operator

We'll Wainwright. with take next Oren H.C. from our question Livnat

Oren Livnat

drug a couple. the you which to expand like Cortrophin, I'm On and launch X-milliliter value of you the remember broader evolution into patient the have use for expansion that price indications, gout. to continue per patient the can launch is about not? talk upward the follow-ups. including of couple or your per I pulmonology, or average have and/or and annualized at And indications I value longer doses. Is higher a on And ophthalmology a into trying as putting of sort pressure the specialties patient

Nikhil Lalwani

you, our for Oren, joining call. Thank it. Got

a when investors. strike information sharing competitively being to helpful balance trying to again, that, sensitive think between I

We the move forward. the which progress this we on characterization per into the probably with as going you appropriate, the areas. I value newer with patient at updating there's on -- is on our look to think is pressure that your end upward specialty

Oren Livnat

Okay. Cortrophin out on quarter, an ]. versus the reflected in as normal seasonal in And an that's important absolute QX you maybe year impacts. [ But insurance has in basis positioning your year for in changed or I overall and your already Acthar called later new kicking know and relative XQ, in coverage resets the for or

Nikhil Lalwani

Yes, there find balance. a to strike again, --

growth. a to -- that therapy need sort helped a significant market almost to of have of market on access And ACTH revenues the guidance, few XXXX. number today to back available you add played the appropriate believe of a million that in for years and we and patients efforts market that clear we're think And role patients number expect patients ACTH ACTH our to significantly have resulted in of our from the when clear with our $XXX that $XXX the million growth a there we that we overall lower improve ACTH I XX% will the unambiguously category ACTH and therapy grow in for then ago. their runway are than repeat I overall guidance is go in making long

Oren Livnat

Generics, your growth still guidance the steady guess, is on And Okay. pretty year. implied I through in

I think in see this Is I space. previously, you better earlier launches don't of and And or pull-through to you the cadence a out and that launches maybe IQVIA ever and looking contributor? is, indicated IQVIA Is press or have more you've looks to Or utility I honest. what product, that an even so data? know back something Or appeared has that. still important material you in do ] jumped there. expected at released limited I seen am changed? and some specifically, might like too that I [ much into and seems new contributor. it reading significant in have think in be that know case? the exciting have half I highimine March one that don't March

Nikhil Lalwani

No. Thank you for your question, Oren.

double-digit the cadence you low digit, result the in target generics the track full in our sequential low us this growth can the high XXXX. to think I pointed for cadence as on you deliver quarter had and with on year. single-digit, expect in high of single growth puts deliver launches expectation double-digit is for out, to And to line

of I over believe have product either the strengths have the sell, our launches. that is we in new and of in product We -- diversification, One sell we business we concentration do the or and not our Generics across our families right? XXX

including and one that's ] the therefore, consider don't gave? hyosymine example we to on you the our of specific business. of strengths as any what that specific add have anything so that And launch, [ generics

Oren Livnat

an Again, earlier on to Okay. follow just question. think I And

Am a little looked new implication correctly? just year. flat the be Cortrophin, is of and are flat going guidance, and high on the full I keep interpreting that that spending the here making or rest the play or you'll that or basically year QX with front guidance down it investments them? by warranted Or will guess are to to you your yes, even I Lastly, if

Nikhil Lalwani

future QX quarters, capital headcount. expect expense excluding onboarding incremental SG&A fairly fair throughout April a be [ the And course expect currently human and kicks certain the which impacts such for normal normal as Look, in, merit Yes. of as -- to is ], we proxy in costs ratable year. such, of

bit As a be spend more R&D comment, lumpy. a general can

spend moderate from. QX have a given for any quarter may which anchor has decent variability However, point

a current February XX, reiteration of factors this all the guidance from guidance, in. which is Our of

all the talking and about there So I guidance is have and investments given. that in the that SG& all spoke just R&D into the we're about factored is trends all we that

Oren Livnat

see want from and to on clear we'll correct? asked assume same of in precipitously as see levels lastly, your early with and And questions. on brands assuming us so Okay. somewhat a the you as established what assume this than I basis in I crush in the have that just your there parts, touched much quarter-by-quarter then so other dropping you declines back XQ quarter, it know is sorry, Or it it to I'm and be lower and on should to just conservative forth. we and many today, always you'll I guidance based I'm again regards guidance you take on thing. several moving correct could line

Nikhil Lalwani

our quarters. tailwinds supply XXXX the established and tailwind in guidance supply no and current those assumed Yes, is environment consistent assumptions. with subsequent quarter the market first brand for

Oren Livnat

Congrats another impressive on quarter.

Operator

Tim last Capital We'll Chiang One. take our with question from

Timothy Chiang

this launched you're I rheumatologists? Any know doing? comment Great. X-milliliter Nikhil, in is it just could size on how vial you of sort from product quarter. fourth you feedback getting the just

Nikhil Lalwani

for early in size the the an does and indication competitor which still We that mL acute for thank and cardiarthritis is gouty X for the for vial have. vial specifically Tim, X flares, fact mL you dosing not the flares. appropriate it's arthritis Yes. acute question. the We're launched for your days

unique code a The largely administered addition, self-administered our a enabled mL physicians. administration In by X J -- used on vile or you largely is on basis.

progress X mL early and cardiarthritis updating again, you of on X and days, look of we to forward the So acute the vial flares.

Timothy Chiang

in you what guys for provide color lot now? of over you're months. terms Mike, sort guys like what Have on just and looked think could sort of follow-up. making Great. Okay. And a one you the the comment just looks right maybe what Could M&A environment at front? on progress you of the of products past you

Nikhil Lalwani

to evaluate targets. -- multiple Yes. we're Look, the continuing

We have multiple started. evaluated targets we targets, since

last look, right capital we deploy seek or assets. ability ANI and think disease the line maybe the in as is, find and BD ensuring that our in M&A. past we're to steadfast rare our We asset And through for expectations. we have thing the on the I look, environment targets in we're remain we remain is diligence expand And confident scale done to and to scope selective competitiveness diligent our of with highly business

Operator

Thank That concludes you participation. for Thank you. your teleconference. today's

wonderful You day. have now a may and disconnect,

ANI Pharmaceuticals (ANIP) 10 May 242024 Q1 Earnings call transcript