ANIP - Earnings call transcript Q2 2024 | ANI Pharmaceuticals, Inc.

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Operator

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

Second Quarter 2024 Earnings Results Call. Please note this call is being recorded. [Operator Instructions] It is now my pleasure to turn the conference over to Lisa Wilson. Please go ahead, ma'am.

Lisa Wilson

Katie. you, Thank Pharmaceuticals' ANI Earnings Call. Results Welcome QX to XXXX In-Site Relations for This is Investor of Wilson Lisa ANI. Communications, Chris Chief me With on Officer; and Carey, Chief ANI's Rare today's Lalwani, Vice Disease and Head Financial business. of Nikhil President call and Officer; Executive Mutz, President Senior are Steve

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

belief, risks any expectation, would performance statements Act. information in started, noted uncertainties, statements forecast, the Before press by I like the Pharmaceuticals' that to express everyone and SEC. including release call of ANI our Reform and morning we defined as issued intent a the statements on involve are as made with may or that projection, These today's available Litigation anticipation, forward-looking events regarding our and conference to get invite based be future filings on considered Private future company's those management Securities this and forward-looking today

are be disclaims materially days specifically from except by archived Such forward-looking in forward-looking differ results obligation update ANI projected our statements. will XX these law. not Actual performance. statements anipharmaceuticals.com. required to forward-looking webcast statements, the intent those available may or any for as future of on The guarantees website,

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

Nikhil Lalwani

quarter and Good for thank Lisa. joining our morning, earnings second you Thanks everyone, call. to

ongoing purpose of both business the our to ANI's proud challenge losing second to The Disease while I'm goal, efforts Rare of milestone drive with record expand sustained with our in long-term lives. of accomplishments achieved to acquisition our patients, continues delighted are and growth and to and scope the improving the Sciences. scale a We company of and major revenues team's rise We serving Alimera quarter. never our in each ability of sight proposed

increase During seeing second revenues the strong non-GAAP business, our the non-GAAP million, we're and call. Based of and over million, quarter on second EBITDA an full second results ANI EPS to Adjusted discuss the in XXXX continued across XX% was will raise pleased XXXX. was we're the of of guidance, $XXX which generated that momentum quarter year Steve $XX.X our quarter, later the adjusted $X.XX.

Rare Accelerating for Gel performance, over of robust XXX% XXXX. asset, demand our which over year line business brands generated in our XX% Cortrophin up during performance. the first million $XX.X than Cortrophin the Gel for lead quarter, established revenues Disease the prior quarter Purified and generics offset growth and more expected the top solid drove quarter

quarter highest number new second January the XXXX. in and represented unique patient prescribers The launch starts since of both

nephrology, We existing across addition pulmonology, targeted specialties: and and and in prescribers, continue have of rheumatology, prescribers to volumes increased new from urology, robust momentum all ophthalmology. the growth

yielding arthritis sales We that pulmonology our we positive including Cortrophin team, strategic areas pleased earlier gouty a are announced sales acute behind indication of launching year flares year, expanding have late to promoting results. the targeted investment report last and and Gel this ophthalmology actively the that team, been

prescriptions start starts growth ophthalmology drove new and a quarter. in the and in significant strong has Our team sales patient second

is flares. saw Cortrophin for acute also ACTH Gel gouty for year-over-year indication. quarter-over-quarter arthritis strong particularly and this product only the approved growth We

underlying flares indication in of as experience late than and gouty in their are a X acute some gouty disease. As promotional these the for people More reminder, million of gout, affected activities acute we U.S. arthritis flares the began by a XXXX. symptom arthritis

For patients, an Gel Cortrophin be some additional these option their treatment of flares. appropriate may for

arthritis who responded in gouty We with patients momentum acute Gel have physicians not increasing Cortrophin adequately have adopting to for flares seen conventional therapies.

continue points starting patients the health our who ACTH and providers treat the efforts them. and convenience for care on We remove to pain enhance

quarter a the nearing of XXXX, prefilled prefilled introduced half fourth we the first version smaller plan report flares. Cortrophin with the for launching who this physicians. mL are time for syringe, physicians needs we mL this meet XXXX. X of the gouty second in We first to half the Today, We syringe such desired as In we patients the to of those pleased are product about of the the acute a and offering completion of that ACTH the configuration are of XXXX X further and arthritis of benefits look patients forward of product. in Gel FDA file development of excited of to approval to for potential to certain

of the and we new a in limited far pending coupled the our XXXX of markets into quarter the Turning our and the quarter products to X generics. million, the approval competition performance launch of quarter, product We XX% from third that contribution launches. now in increase expect another quarter in quarter with launched Generics with delivered X% The $XX half. We've number in second business, launched to new an have strong revenue business, so of new base first XXXX. second over products of strength in second solid X which each products reflected over

second believe in progress XXXX. the at manufacturing and bringing new our of future fully lab support expansion site significant Generics Jersey half New The capacity will site will substantial the and suites expansion the our of made new QC Jersey business. on online New all operational XX the We be

$XX.X XX% expectations and during brands from quarter, decrease and the The year our the performance was of Revenue prior period. for guidance. in million a established with anticipated line was

first persist on a noted not dynamics quarter the quarter. arising the May supply As we in beyond did tailwinds expect call first competitor that reminder, we the from to

strategy synergistic annually. transaction in commercial strategy Alimera our highly-durable branded Rare over highly laid and more This aligned the to quarters. several X acquisition milestone delivered with we M&A add out is in acquisition The we ophthalmology past will a with growth June, of the assets revenue In than million in portfolio the Sciences. $XXX our proposed Disease major announcing

Specifically, revenues Rare strengthen is ANI of Rare driver key XXXX a and Cortrophin and Rare Disease business this provide for of approximately will priority the basis. scale scope also largest And which the durable deal growth. the pro transaction will of for our a lead areas segment our and ANI's Alimera, Gel total market. ophthalmology, Disease overall expand to our The one Disease future double-digit account be With company's with of asset, the therapeutic of the Rare assets X ACTH on forma company expect Disease growth. we would XX% specialty

remains a underway, planning later perspective, accretion transaction single-digit and high low the thereafter. is expect EPS this track in From accretion to double-digit adjusted in financial substantial close well to quarter. XXXX Integration we on non-GAAP with

Mutz, I'd Now over transaction Disease, like to turn in products of discuss our call more Alimera Head the and Chris the to detail. to Rare Chris?

Christopher Mutz

first vision to is affecting or second treat what the company's starting commercial The Thank you, products. DME, patients the about back Alimera's eye. used to macular loss ILUVIEN, brings high-growth YUTIQ, product, X the noninfectious cause with Nikhil. uveitis edema, We're used excited of to leading is of ANI, diabetic treat durable product, in with diabetic patients. Alimera chronic

double-digit genericization both significant barriers are YUTIQ and upside. future and assets growth with to high ILUVIEN

ability of XX force options. sales reach products pulmonology. of neurology, and expanded X be and Disease ANI With nationwide nephrology, A of for Rare an alone, covering commercial and the approximately ophthalmology representatives acquisition ILUVIEN, Alimera, assets, X sales dedicated promote Disease commercial rheumatology, YUTIQ, will patients difficult-to-treat limited ophthalmology, team late-line to to have all extending with our Cortrophin, and will specialties Rare therapeutic the

both this YUTIQ Alimera quarter net second in execution. revenue commercial to $X.X also unlock the U.S. represented and ex morning, through in quarter, in our Europe of key confident million quarter and year are the ILUVIEN prior up first marketing diversification established million products, increased detail. geographical Steve? partnerships more additional we YUTIQ generated the to which second through the year-over-year and geographic $X.X XX%. direct adjusted to quarter in of million over regions. call increase quarter, $XX who second will of I'd million guidance ILUVIEN ANI's Steve value additional will Alimera XXXX that, ability EBITDA Alimera's growth and high-growth With the our from walk second reported quarter turn including in and in are revised $X.X like XXXX. to footprint, financial synergies results results. and operations its in with and Earlier in

Stephen Carey

the the Gel to million. $XXX were quarter segment, primarily similar guidance good fourth Based reported in team the year. year million, from our strong million last driving to prior full volume And Chris, on and to range second year, prior of million, in by year up are we morning generated million revenues increased $XXX $XXX Cortrophin starts. raising we record patient continued upon period, revenue Revenues by Thank of be ANI quarter driven the Gel, expect call. new the XXX% revenue $XX Rare to up Cortrophin of everyone execution growth, number Disease Rare on to the quarter year XX% strongest our over Disease the of period. from you, $XX.X

for our over an in revenues in year for remarks, of performance prior over brands million, XXXX. revenues Nikhil noted of other Revenues X% of XX% of strength were continued other decrease generic period. the segment period. $XX new performance the product quarterly generally and year was were is quarter Net business over the quarter, by million, for indicative second established earlier established quarter million his $XX.X year prior of in base expectation launches. back increase as XX% the period, Generic a of $XX.X the expected, and and were the brands decrease of our half and a prior the the driven contributions This

growth driven excluding to New expansion approximately margin $XX.X established the XX% well to and points gross XX.X%, XXXX, compared a significant primarily basis Cost XXX sales, year brand the due volumes first revenues in pharmaceutical including related Jersey in of product million prior from depreciation the reduction Gel. as XXXX mix, growth our Non-GAAP products sales second XXX and points site. period, net increased of decrease of at of the the was by expenses basis year from prior of capacity Cortrophin and to the to manufacturing due quarter products, as primarily to amortization, period quarter in royalty-bearing of

in of We both margin improvement and gross expect quarter fourth sequential the year. in third this

Research expenses quarter a the and timing the sequential inherent year XXXX in X% decreased period, the decline expenditures on second quarter. million first of to XX% from variability and prior compared expense basis. of The and the to related $X.X development to was quarter-to-quarter R&D

of half timing XXXX to second We the of the activities. half to R&D relative expect R&D due year the the first to increase in of

expenses million Selling, increased Alimera, increased general, are compared and for marketing of due On adjusted expenses investment our a this as and the prior required non-GAAP in business. related net Oncology. $X.X the these for administrative the value an pending million employment-related the of Disease Both in and metrics of Rare second on overall of continued expenses $XX.X the GAAP of in common by million costs, items morning. the basis, in available to related quarter acquisition of million the million Alimera, second to and sales of period, our to unrealized of $X.X growth CG mark-to-market income a shareholders in increase support year acquisition $X.X XX% legal XXXX in investment $X.X loss our expenses, activities, driven XXXX activities quarter was to of pending to loss to to net

in to period. per share year compared prior prior EBITDA diluted the of per quarter year GAAP compared million diluted quarter the share year million $XX.X compared to non-GAAP loss second Adjusted earnings the was for for was $X.XX period. per was $X.XX $X.XX period. a the On $XX.X of XXXX adjusted to of earnings the per in in non-GAAP quarter income prior Second an share $X.XX as share basis,

adjusted face and due our and of cash X.Xx, have is EBITDA leverage second in quarter which million. value We million was quarter, XX-month gross million our end of debt, the well November in was X.X At with trailing ended ratio of $XXX.X of turn $XXX.X the $XXX.X unrestricted of net our the XXXX. under non-GAAP leverage outstanding in ratio

year $XXX to and XXXX million mentioned Nikhil press Cortrophin prior of to to $XXX XX%; follows: to as Finally, full million to representing million to growth revenues of this guidance up our of of non-GAAP to from prior of of full to prior guidance XX%; increase of pleased XX%; Gel to prior $XXX million, morning's adjusted our to growth million, million, year-over-year outlined growth $XXX our per approximately guidance up $XXX million, XX% $XXX million and XX% X% are representing of share and our we adjusted from $XXX as year-over-year from guidance $X.XX. million $XXX in up $XXX approximately revenues net EBITDA net million and $X.XX XXXX between non-GAAP $XXX of representing from million, earnings year-over-year our release, as $XXX guidance $X.XX, year up of million, $XXX $X.XX

to the our is factor for the when this year are XX% from second be of of a new gross short to in manufacturing becomes We suites margin point and our in at in full reducing between of as XX% site timing the non-GAAP term achieving benefit assumption due the XX% and anticipate nature prior XX% This of operational. modest our efficiency estimate company and New suite by new beyond. total X between the and half we Jersey fully change

continues to quarters, and full note XX%. prior XX.X that and from With tax its will the calculating include turn of company with adjustments between acquisition XX.X XX%. tax anticipates GAAP rate shares that, computation Nikhil. pending of XX% and now for of to the U.S. share XXXX the statutory million back call Consistent Alimera. be non-GAAP expect updated Please million year we our diluted per will not estimated outstanding effective of for The does earnings continue our I guidance rate contribution effect using adjusted non-GAAP now EPS diluted purpose between to to

Nikhil Lalwani

the allowed the our We're half closing full to By ANI neurology, and with Alimera. the an ophthalmology, in Steve. you, and X expectation. team end has QX second countries. [indiscernible] exciting us pleased pulmonology, ANI first expanded the XX have rheumatology, nephrology, year highly strong and of at durable extremely and will specialties the Thank a year, our an performance commercial commercial this with in acquisition covering Disease, of assets momentum of quarter It's increase growing Rare a and time of anticipated continued that over

thrilled to similar look X the shared for the throughout lives. you with Operator, culture you rest missions a around improving built of the updated line in the and We forward we Thank unite of please your year. companies are keeping ANI, patients, questions. interest serving to open for

Operator

from first Our Sulewski Instructions] will [Operator Les Truist Securities. question come with

Jeremy Jacoby

Les. for on Jeremy is This

give First is, and you me do the color marketplace? what aside can from the in on other to also have there's for the for range prefilled drivers explain more similar any guidance you Cortrophin? And this if anything then us syringe,

Nikhil Lalwani

you, and the we is them. take starting question continue enhance the treat Jeremy. who efforts which Thank I'll our for first, points joining. Look, pain on convenience care for you the providers second your prefilled remove syringe. and ACTH to Thank on patients health

to ACTH physicians meet who desire patients. You'll Cortrophin Gel smaller mL quarter of X of that for needs we remember the certain configuration the the the in introduced of fourth version 'XX, of

of the or completion completed mL specifically further prefilled nearing X Cortrophin we've we're and the admission of helping development Now preparation offering product. of patients Gel a right, benefits, syringe with the

and others and the with had to the look hence, Both business I Then were as to to brands, going your royalties, year back momentum half the a in largely prefilled line file strong this were we're our approval XXXX. continued expected lines. of and guidance said your raising overall, Rare before, we driving full half planning established our touch and on first XXXX expectations. we syringe guidance have better the And guidance are what's and of we than across see in of -- in and launch Disease Generics for the second question increase,

Operator

Our Raymond next question will James. with come from Gary Nachman

Gary Nachman

quarter. Nice

And the those of Cortrophin that most versus is out indication So And are market in gouty flares share many growth, of growth? And small, gouty the elaborate upside and So the are therapeutic new ophtho, how getting. overall mostly key are what flares much areas absolute some regarding mL is there how driving growth about? were just you called drivers of in which that you but with you areas? Where gain you strong X much the of volume right? how in just vial the upside talking prescribers are potential relatively still the dollars? seeing

Nikhil Lalwani

Thank you for and your all questions, Gary. answer I will of try them.

growth reported are you'll and number been years think -- results look, X ACTH saying being our is, around versus than question overall with category share the earlier number as ago. lower the of today, and treated and I overall is are patients the what treated quarters, competitor prior significantly today that on this their patients were earlier year even see -- growth, the that being on ACTH that we've in many category

with -- you're time the many first efforts our competitor, of the efforts category the and the with seeing category growth. And years of the are decline after seeing for

if category they And So the implies it raised raised our revised raised category shared slowed we our competitor a what so growth. you and that -- high-teens add now guidance, and that ACTH the is seeing growth. in the today the guidance, for you'll the guidance, fact, guidance is decline see earlier

And ACTH of again, result we efforts for ourselves that the and the right? will the the a competitor runway and ACTH growth. category, there the or in is awareness believe market of market ACTH So significant overall increase category

in us, about share to So share it's capture a appropriate it's Cortrophin the not getting it's need. patients for capture, not about --

So that was one of questions. your

-- the newer from? come across did and growth nephrology, which saw And basis on launch, from an areas we both pulmonology. nephrology, launched growth at gout the that indication majority focused we of ones and the to ophthalmology, and where and we highlight so the absolute did is where neurology, come the on was Look, next therapeutic would did your the areas, core The of neurology, growth rheumatology, rheumatology. question on I with, the

you're I Gel what out growth, as we we've only that in have -- a these very approved strong aware growth, there is which this both different to quarter-on-quarter year-over-year highlight proprietary the different than detailing for strong course, Of lower gout, basis specialties ACTH to product Cortrophin and for these indications. we -- resources have number talking and the the that there about that of particularly would as on is our indication. newer But is seen

sales strong the start to in And And Alimera significant drove new Sciences obviously, in with expand build the ophthalmology addition, starts the right? prescriptions and off a is very of the integration will ophthalmology in team and our patient acquisition. second growth we franchise on as that we quarter,

last how And was there. then around your is upside question, much I think,

peak I think the was. touch you're was XX% guidance raised aware the of sales what our that's of ACTH when market guidance, ago. how still of years you add Even the competitors' a and large raised a few category over

covered hopefully, Gary. So questions, yes, I your all

Gary Nachman

Most of it.

really having patients for X also indications, about how could in that size. you I be just Just vial gouty not out on just vial if mL that gouty and are think just of last question having a be remarks, was presentation. could for other many used prepared I'm that and And talked the X and curious flare more how many the there smaller vial flares, candidates. mL indication the And these

Nikhil Lalwani

usage quarter-over-quarter. and HCPs mL has would experience to X in for of are vial Cortrophin has significantly Thank the their additive. us has to the X who mL an first expand the the Look, to been mL X of prescribing -- vial, new volume Cortrophin. addition be you has It been question. vial grown helped And your

points the the enhancing And the it needs as addressing as back the as patients who care just convenience our of pain and providers both to health them. appropriate well goes treat well towards as look, approach

treat brings completion one points pleased them. today pain So step health earlier addressing providers are patients. was direction. our the that as X that And appropriate as as who the option convenience now the And nearing -- the report care of mL well prefilled I another that was vial help patients for the to syringe of in enhancing and we we the to

Gary Nachman

And one helpful. that's Okay, Alimera. on more then just

are So the to first, segment. in just I guidance just And not for planning the for that about factoring have Cortrophin out just anything And beforehand or And one? want successful benefit you're ophthalmology any that to talk you're expecting? confirm integration. transition the you there raised make the closing deal from that need issues build the sure hurdles a any from day you then to

Nikhil Lalwani

you. Yes, thank

there from question, Cortrophin into is from ophthalmology first baked the expanded an your force guidance. increased sales benefit So no sales

is know, stand-alone close so ANI. we the yet to As deal are for this you

then integration. your on Look, planning. question And planning integration we're the making good second around for very progress

as this working closing think and we look then planning towards processes and what deal quarter. part progress I making, it closure. the deal. we're I good And And the like close the leadership on to look that deal will after First interacting of perspective, of is said, Alimera again, understand organization, appropriately from later a forward with the systems, the to team

heart of durable And are sales all team expect, thinking as XX-plus Chris to at they about. X about, the integration spoke how you and that is carry combined the commercial ophthalmology this assets going would

will sell them YUTIQ, the Cortrophin selling for been and and sell the so selling for and have to ILUVIEN organize who's them for ILUVIEN about we And been how look with to folks Cortrophin, our training program them, that YUTIQ. what thinking does team like

all obviously, those, to the And distribution, all those integrating that they IC the that good plan be the and are and that other progress area. of of working I towards, we're in other in with we're those, all hub making support sort able need of to steps think

Operator

Our next Guggenheim Divan will question from come Vamil with Securities.

Vamil Divan

Cortrophin that helpful. And the but from remainder of fourth look you curious. for then be to the of is and if you you're just I'm just XQ XQ, this of couple any quarter year. any expect of can with in growth the of year? And here. Alimera, just assume of on sequential the expect mentioned changes sort a quarter, a Again, then to I state that side, sort nice or than could of still a comment you just of terms curious this Is good the next meaningful further you second you largest steady mentioned the question, XXXX. if have do to would sort ex-U.S. sort mentioned year. last to clarify what base think they Alimera that on I'm the little presence as U.S. brand then I at priorities? expanding just just about you ex focus, a XQ development some expecting more you're curious to quarter now Maybe I'm you be provide. thinking side, XQ turning things given want how business you confirm into maybe bit established future about that Is provides you? you that, One,

Nikhil Lalwani

Thank you, Vamil.

on the and mentioned question expect as fourth to Steve in be we in that yes, the growth growth quarter, see and remarks, there his the sequential your So XQ. highest. XQ will quarter to we fourth expect sequential do be prepared Cortrophin, Therefore,

focused this that continuing Rick report to doing. great deal, -- ex-U.S. team us. Obviously, the actually, the gives through your business was these as have the -- question will we're specific meaningful updates Alimera working around was nothing develop, around currently share as question opportunities they and the and integrating company, and and third closing We're second The the time. asset work at we been what they're on that and

that of established component in high on cash portfolio businesses So our are business. continuing. and gives that on of an us. And brands. that's generation the Alimera important Look, is brands, it of This is business margin, question then ex-U.S. we what part flow the strong and gross on opportunities low capital, working established third the

established for the by So as working we things. Historically, on you are business for expand development brands. doing deals we of a portfolio know number brands, established different

since done we've the trying benefits capturing as haven't pathways XXXX one different the innovative commercial it's supply whether strategies. tailwinds growth, found to We or of

deploy marginal more And the see X you'll so plans we decline as established brands, one share year-on-year, absence in and being current portfolio some your But these core back these of work question, to go some along. to of moves for we'll the going the we'll made. combination through of

Operator

Oren question Wainwright. next come from H.C. Our will with Livnat

Oren Livnat

a announced syringe you with of guess the tell months approved guess also that have back. have any competitive and auto-injector patient think any ACTH availability I different relative I landscape? there or indications along if on prefilled products that self-administration would do X their questions. us coincidentally to a now? most this the I material of And certain market relevant? that. current work, coverage will Can I you you morning, announcement auto-injector, will your your was think than Like single-use are that be the Mallinckrodt of few impact And where just development follow-up have have coverage the access

Nikhil Lalwani

pain as have. Sure. is enhancing are that subset thank efforts as what the device, and points you of -- the well for patients your from a question. competitor's ANI's tell, addressing competitor's Look, And that we can in efforts aimed at the convenience

for awareness prefilled us vial. the of and awareness to address with initiated way ml Cortrophin patients was appreciated as trying are and -- usage that bring think the about category which mentioned that be some and syringe. And for or naive is growth used right? X whom helpful to earlier, it preparing ml in product, and is can X patients investing and the prefilled the competitor Gel I right, in the the syringe increase example, our working So were both have X new think of who We also I to providers, would and -- the category, options by drive their increase launched initiated patients to ACTH care in by health by, of therefore ml ACTH the I the vial, their administering

for the number overall, as many I category number is as the reiterate being again, today with for that there that significantly being of being significant health the providers care patients treated ACTH options ago. patients So again, than who them. treated well for the patients category, different is of runway the And given lower treat a this great years

Oren Livnat

adjustable. Okay. Do steady any is their where And what Or and think, do you across I you any don't curious I'm she needs appreciate will have your particular there think you different trajectory? strokes, with landscape. are goes I if think just the that areas auto-injector it's for, it's different just folks growth impact? know on if dose products as

Nikhil Lalwani

Yes.

of think now probably differentiation a will And be can you and to a subset right, ml ago, a are convenient to options there may the X that perspective, the vial. X more you this would taking indications months between X bring expect meaningful a not invested going many understanding with where that to than the syringe. a X.X prefilled have I ml a for itself create that, now. X ml from that ml bring we vial or And expect of are sort dosing dose

Oren Livnat

you Okay. my sort Alimera, I particularly in what, of yet do framework? it's the expensive are differentiation are I value product, but products? it Asia to I of by give can in indication, there guess, just high or limited any not reporting Rare much make guess, so pricing Do there indication us where hasn't you you and what planning color they a is I question It is but is revisit in you there? is to stages, me IRA have hope the a larger say of Maybe of have feel Obviously, super EBITDA to rare comments, opportunity guess DME talk these NIU you're there now? And sort margins clearly the orphan can any that potential another seems I the business since the contribute an to targeting Is the quite about disease. versus on free Disease. you freedom And view. in changes regarding synergies you're no closed know

Nikhil Lalwani

Oren. question, your for you Thank

at had we for announced we XXXX, a about and we shared I -- when million-plus think in in an a that we're was gave like guess from we think expect into sort to you adjusted suggests deal addition, the range what it outlook add. doing financial of capture deal runway announced that then that, expect also information remains And but the we Steve, to much $XX that in $XX million I no again, that. And EBITDA seeing from synergies couldn't we're plan that of as that EBITDA integration perspective, about. worth we the we the on talked see guidance was I or jump can there the in we synergies. how

me Steve. help can You with that,

on that balance planning in Steve, as in terms the in the you EBITDA in EBITDA answer that we to strike we Cortrophin and synergies. back -- we're obviously that Oren's the sharing had XXXX. well so said And just pro revenue can what as with allow come of sales pricing. Again, helpful further third integration regarding And clarification regarding try competitively of get just any would XXXX? to from the It's we additional Alimera topic. part between is that additional us that's forma you EBITDA addition net then to is a information stage, sensitive. additional information in So acquisition. And about

Stephen Carey

terms low of I our in And XX%. importantly, And Alimera expect gross terms kind in would think The the in we Nikhil mid-XXs are to accretive of margins. -- it's Yes. note right, I be of EBITDA, as the margin the the gross mentioned. going at profile, our would to in products

Oren Livnat

had that disclosed litigation I us GAAP Is Okay. And CG some I to just I'm dispute just foreseeable or you Oncology the XXX(b)(X) should any in IP-related there. just front there hear on a SG&A, wondering if expense able the Or on the news that stuff is there? in hope known to give color. noticed potential lastly, you're Paragraph IV we've any your XXX(b)(X) guess, in about? future? And we

Stephen Carey

expect, you litigation, as mean, CG pursuing incremental Yes. our the I vigorously in in rights the of of we're Oncology. defense terms would

in we year-over-year have that that's the think And we highlight on only would terms that then question? a what of I in second was That's that element the I'm And litigation GAAP you. today is sorry. to spend increased one basis. of so the -- part an your

Nikhil Lalwani

can I that. take Yes.

updates we on have when -- Oren, but they're So that the more material. But linkage the products, we to share the share and updates give. XXX(b)(X) will there's we to no between meaningful of spend your will litigation on when XXX(b)(X), launch

Oren Livnat

Congrats another on quarter. upside

Operator

Our Chiang Capital from next with question come One. will Tim

Timothy Chiang

exceeding Can back of on playing just year? you in Nikhil, segment revenues. so guidance Rare you how segment growth increased your your see the expectations for out total of the in segment your Disease Generics your the the But sort you've back are original Generics revenues it half sort your you of do seems like for actually Obviously, Generics from in comment see targets. where half?

Nikhil Lalwani

excellence the business, coming about about, of third launches, with subsequent for high U.S.-based in full talked product before, operational double-digit towards, the X in expect question, a enables second can move questions. quarter, We've Generics you to really cadence to since on GMP the to in growth X is new as the one the low supplier sequential And XX already for then is your quarters thank launched, deliver, Yes, year. That, being quarter, products our a we back our reliable of strong think, with have status right? of basis, on XXXX. new we your right? Number single-digit Look, you as as Tim. year the performance X product the and things, growth. shared combined we start our to and us the new new manufacturing so -- I

Timothy Chiang

maybe facility you I are How you this with be able follow-up. facility? cited a to just that New increase Jersey. to much new going And capacity in actually new mean,

Nikhil Lalwani

Yes.

lab a so about We the a higher new new and We've that's capacity. equipment and increase there. back adding in equipment manufacturing are in suites upgraded substantial XX size also added QC

New So can years. site. our multiple of the meaningful the of I the it's business we Generics don't addition growth have volume it a Jersey specific service serve to percentage, will a And for out but that

Timothy Chiang

Okay, quarter. great. Nice

Operator

have over remarks. for to we closing no program turn appears the questions Lalwani It at Nikhil back further I'll time. this now

Nikhil Lalwani

joining forward and appreciate your progress ANI move We look forward. we again interest call you. and you really to in Thank you updating for this as Thank our it, on our for we morning.

Operator

event. and gentlemen, today's concludes this Ladies

disconnect. now may You

ANI Pharmaceuticals (ANIP) 6 Aug 242024 Q2 Earnings call transcript