ANIP - Earnings call transcript Q3 2024 | ANI Pharmaceuticals, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

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

Third Quarter 2024 earnings results call. Please note that this call is being recorded. [Operator Instructions] It is now my pleasure to turn the conference over to Lisa Wilson. Please go ahead.

Lisa Wilson

Todd. you, Thank Pharmaceuticals ANI earnings call. results Welcome QX to XXXX Relations This is ANI. Investor Wilson, Lisa for today's Nikhil and call Chief on of me With are Business. Disease Steve Vice and Chief ANI's Senior Rare Executive Lalwani, Carey, Financial Mutz, Officer; Chris President Head Officer; and President

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

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

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

Nikhil Lalwani

Good discussing start Thank performance joining morning, Today, third you for our thank highlights. everyone, by us. Lisa. and quarter you, I'll and

will on color in Disease. integration of from including additional Chris segment more of our our review this quarter Mutz, business, After ANI's updated provides the and hear Chris Alimera, progress Head the then the Steve Rare of You'll detail. of guidance

exciting against improving Following your we're year of our remarks, here our serving It's this continuing take at and purpose execute to well patients, time questions. ANI, lives. we'll an

during In team asset, our generics quarter delivered for our addition, record Cortrophin performance rare the and disease lead business. our Gel

also structure in and completed We and on capital acquisition XX. more the of new, put a effective efficient September Alimera place

further and highly disease As accelerate is believe as synergistic our you've and ILUVIEN unlock YUTIQ the to and who Cortrophin growing force one outline to Gel can rare progress our for sales ophthalmology. business, and heard a me previously, proven growth we well date. Alimera I'm our key XX-person potential execution the cross-trained have products as capabilities to with mid-October. assets commercial and promoting have combined in been of remains all three ophthalmology pleased In Integration our we areas, particular, since priority of durable

acquisition Alimera addition, capture The track we and transformative ensure of Alimera over disease retained -- taken on our to have business. are we for rare million in is synergies employees actions to $XX In talented successfully capture XXXX.

cost to We in $XX create accretion XXXX $XX substantial double-digit EBITDA to inclusive of XXXX, non-GAAP low expect value, non-GAAP driving transaction of in the million the $XX adjusted million million to in identified adjusted single-digit and EPS. shareholder approximately high synergies

in dedicated additional Cortrophin ophthalmology revenues our to expect XXXX. we team addition, In drive

generated was over third $XX.X and up of of third total accelerating company third million, The $XXX.X to financial over demand quarter for of XXXX, Gel increase of the with strong quarter XX% performance. posted Cortrophin by driven Turning Cortrophin quarter revenues our million quarter an another Gel XX% for EBITDA the and $X.XX. Adjusted continued adjusted strong quarter, during non-GAAP EPS growth in XXXX. generics. $XX.X million the was non-GAAP revenues

fourth initiated in momentum reaching XX% growth to specialties, cases trajectory the and January continued the rheumatology, ACTH demand more starts XXXX. the represented all as both with with the saw prescribing record We nephrology, XXXX. number expected to remains pleased returned of and targeted launch since number increased quarter in growth quarter Cortrophin year-over-year a across monthly new in has October. neurology, the multiyear has highest and in momentum continued category new high of is unique third strong that deliver report quarterly pulmonology prescribers overall patient on The a ophthalmology to than are and growth

the ACTH patients years today on of ago. than lower In few addition, number substantially a therapy is still

with of XXXX quarter business, of another increase launches. new base the the reflected strong X.X% second over an of million, Our performance XXXX. XX% coupled business solid over generics our The from and product contribution revenues of with strength $XX.X quarter delivered in third quarter

During limited launched markets. the quarter, new five we including some generics, into competition

XXXX now over fourth to build one across Steve Mutz, our Chris product to in later the full and Our in will ANDAs of the Head the with in turn R&D team new our ophthalmology franchise discuss more additional guidance, results, discuss YUTIQ, business detail. submission the ILUVIEN quarter. Disease, and third quarter the our call year pleased momentum our we're on Cortrophin Rare raise which Chris? to call. continued I'll addition new Based and to continues strong in launched and of several momentum the already QX of

Christopher Mutz

to Thank you I'm looking you, business. bit Disease things our telling morning, in the good Rare forward Nikhil, everyone. more exciting and happening a about

Cortrophin. First,

pleased Cortrophin are Gel included demand of during new trends strong and adding which for momentum in third the prescribers. growth continued with quarter, robust prescribers the We existing

pulmonology of neurology, all across Importantly, and we saw demand rheumatology, nephrology, specialties growth ophthalmology. targeted

in significant addition expanded Our by confidence patient potential to the new complete we ophthalmology XX-person new third in hired prescriptions and in the integrated team, ophthalmology quarter, of sales Alimera force. further drove the reps reps in starts now is former the particular, our of bolstered reinforcing growth and the team, which sales the

Cortrophin steps and trajectory, been company Gel strong important As growth Nikhil franchise. remains has the Gel Cortrophin the multiyear taking mentioned, we strengthen further believe a on to

launched team months, past in teams And we've an we and XX dedicated the ophthalmology. sales with acquisition, ophthalmology. Alimera in pulmonology expanded the now have Over sales

experience We in efforts the believe patient the of improving Cortrophin supplemental approval that this and prefilled to the we offering excited of syringe our announce physician October. FDA will submitted pleased and by to toward XXXX. we've to needed NDA Gel for are and self-administration reducing benefits steps for for first offering are development potential further provide patients and plan new half late in physicians now Moving we launch the syringe and for about a a the to completed prefilled that convenience,

milliliter Gel patients the flares and who end the acute University and who ANI of meet health a Cortrophin for provide Cortrophin with the in Annual Purified ramped Gel Gong are strong American from committed published Cortrophin in QX, physicians ml use to the Cortrophin which approved of Gel through also care introduced of third those research Cortrophin Physician We At quarter the of treat fourth behind starting on them. gouty presented And including has Nephrology And the smaller the of ideas the invest also Toledo providers X earlier enhance we to exploring ACTH research and October, Cortrophin for by will a growth Society configuration delivering at desired vial as of that other to needs We're to in version particular, scientific in quarter. abstracts support X XXXX, the convenience the Pharmacology believes we therapy. demand up, of X Rujun additional arthritis of in in Meeting. only continuing for for in Frontiers multiyear ACTH Gel. authored patients, the collaborators. with is was Gel. steadily certain with reminder, the in Overall, investing remains Cortrophin for Gel

to YUTIQ as excited potential are ever the targeted for disease uveitis growth Alimera and Cortrophin specialists retina with our of with and to now Turning rare Gel about products, as along ophthalmology ILUVIEN, subspecialties. the additional team accelerate combined we

the As expand improve to the SYNCHRONICITY, are market. YUTIQ has or patients by NEW posterior for to products studies, loss which DME, investigating potential ongoing consisting treat ILUVIEN YUTIQ. used treatment other vision as leading combination in make differentiated continued available on the therapy the to DAY Both of segment, utilization compared to chronic or a products non-infectious NIUPS. and to macular treatment early clinical reminder, and ILUVIEN edema cause to ILUVIEN DME treat ILUVIEN options patients the affecting of anti-VEGF has diabetic uveitis ANI NEW the long-term diabetic used is DAY and with of and patient on are progress is for supplemental outcomes.

the XXXX. ophthalmology Gel, treatment-naive ILUVIEN talent product, patients plus therapy and retina clear data XXXX utility ILUVIEN relatively current ANI specialists only and in SYNCRONICITY multicenter therapy and NIUPS. demonstrate reps around in the integration of period NEW second ILUVIEN expect anti-VEGF of retina the and a and complete, a for standard study a to in Integration in the just XXX last it's of patient very is month. naive XX anticipated the in the or the we by is study planned uveitis XX attended a of the projected with Cortrophin caliber of sites the the baseline and of mid-October. therapy is We visit YUTIQ broader controlled patient and Overall, is the welcomed American designed in projected The that patients study XXX for study study care, the single combined we're enrolled almost treatment around into the meeting in to of randomized not anti-VEGF last line been impressed highly this by XX multicenter, provide The approximately legacy is seamless, study The months in alone. began in with patients patients inflammation. that initiated Alimera comparing The was evaluating also the to next XXXX. YUTIQ ANI. for XX excited of chronic DAY visit mid-October, has sites of U.S. specialist is November team but U.S. last with enrolled as and top with Ophthalmology Study Chicago last trial DME to physicians in designed in study YUTIQ Academy this promoting approximately Having by in sense with masked efficacy chronic community. the fully is the study cross-training data supplemental sales about quarter the open-label

business to Steve to over on for largest the forward With largest of and growth, and the We we be the rare that from patients benefit disease to drive expect products expect team X more unit of will keeping progress. financial the and XXXX, can the we look treatment. our you In Steve? greater call turn updated that, both the driver enhanced business awareness company's identification all of I'll ANI's update.

Stephen Carey

on and up and raising from Gel Chris, our full morning new team the and revenue quarter prior XXXX therefore, the the Thanks, Based the results on generated primarily weeks over year volume period. acquisition starts. year $XXX third third quarter from closed Disease Revenues million. $XXX our Disease a up third execution growth, $XX.X to Alimera financial the I'll increased patient were number XX% quarter expense September period, Cortrophin in year and upon segment activity. prior reflect on of X strong then everyone review $XXX.X good ANI XX, our to Cortrophin guidance revenues of are Rare discuss of record updated driving our million, call. in Rare XX% guidance. by revenue reported Gel driven approximately million, million of our of to The continued statements we

of mix activity. which in Table depreciation cost compared Generally, Table significant year Please period, unfavorable our of be in and combined product products. XX%, period. segment to million contributed million release. margin Disease $X.X volumes revenues growth during royalty-bearing a YUTIQ, heading reporting Non-GAAP of stock-based year Established and over expenditures. net XXXX to X.X prior XX% points third Other increase driven press sales to are to the GAAP million $XX.X contributions was a excluding segment and gross in approximately a to X XX% of XX% pharmaceutical an refer year over X Rare operating the products prior our of expenses the Non-GAAP XXXX. Established of line XXXX year, our referring with principally brand Brands launched the the revenues expense $X.X other decrease expectations. prior to in and decrease our year to due growth impact of due the X-week products the over Generic research from sales, Brands Revenues increased these quarter certain ILUVIEN from and were full $XX.X primarily XX% for of depreciation detailed expenses established and which M&A due reconciliation when decrease revenues to the in driven non-GAAP under and new Net on are quarter the of to in of revenues product our to was by a were period, for in primarily and for period, on spend. the speak $XX.X will generics, our litigation third launches We prior to year this expenses, quarter, which of million from purpose of excludes today, Non-GAAP the in development period. by costs amortization, $XX.X revenues. quarter and the related increased XXXX, volumes amortization, reduction million, to XX% million, for were timing products decreased the I our compensation I operating non-GAAP of earnings for prior our Starting and the in call,

of continue and on expect first to the We due to expenditures the half timing R&D the to activities basis. year of the than XXXX inherent quarter-by-quarter second of meaningfully phasing be a half higher R&D

increase quarter primarily to to related disease activities to SYNCHRONICITY throughout fourth required $XX will expenses and to our and and costs, spend increased R&D Expenditures activities studies expected support of in the increased continued in include continue for the investment Non-GAAP XXXX administrative are an DAY driven ILUVIEN marketing overall in of NEW YUTIQ, the rare XX% to expenditures growth addition, due selling, employment-related quarter In and XXXX. and general third studies. these by business. million sales

a in We the higher Cortrophin, of expect quarter, these full fourth expenses ILUVIEN ophthalmology reflecting promoting our to YUTIQ. meaningfully and integrated sales quarter be force

million our principal gross period. period. the expenses value compared At million sales of the to share Adjusted per prior have business outstanding unrestricted million to earnings cash term continued in and notes in end XXXX. in corresponding convertible for year $XXX.X to was $XX.X third Adjusted the our adjusted forma continue in ended of run trailing quarter share non-GAAP our year quarter million, for the We non-GAAP of leverage third expanded $X.XX force We $XX.X $XXX was and investment which diluted was net acquisition, $X.XX to $XXX.X of the EBITDA the million loan. X.Xx, expect approximately per leverage of quarter senior debt, with approximately was and prior Xx rate in Alimera non-GAAP our in compared synergies. the inclusive and pro support inclusive the EBITDA our XX-month for quarter, approximately is the

closed strength and Turning XXXX our the We're to acquisition raising are XXth. full to of and Gel the Cortrophin pleased updated Purified to continued starting XXXX reflect September have our outlook. in guidance ILUVIEN from year Alimera contribution and YUTIQ

$XXX per prior ILUVIEN million from guidance from million XX% of as gross XX%. is up guidance non-GAAP representing approximately through $XXX of EBITDA to million $XXX to guidance our to $XX updated our of previously which Full up XXst. representing net million $XXX to and Our $X.XX. of December $XX revenues prior adjusted our $XXX net range XXth to share from million, communicated company $X.XX end XX%. expect million, $XXX and approximately million, $XXX guidance our and now $XXX up of Cortrophin XX% non-GAAP earnings of the year-over-year net September revenues million $XXX the guidance of of We representing be period XXXX XX%. $XXX our million from high follows. of XX% $XXX XX% XX%, growth of to to margin between of to Adjusted YUTIQ to to of at million, revenues million, Combined growth revenues growth reflects between to total up million, non-GAAP and prior $X.XX, year of and $XXX during $X.XX post-close prior million of million,

with Consistent inclusion XXXX million anticipate YUTIQ, non-GAAP quarters, of $XXX previous we total and operating with to SG&A effective company we outstanding of and for ILUVIEN $XXX associated full for year non-GAAP to adjusted tax adjusted tax GAAP million. non-GAAP will rate computation also as With annual applied R&D the between adjustments effect certain statutory U.S. estimated and the full with purpose the expenses call XX%, incurred continue pre-tax share calculating I'll is XX% EPS or to between company earnings by GAAP part. item of respectively. XXXX, for its back per being diluted The in million the approximately conjunction mid-single for XXXX XX.X adjusted turn using quarter the annual digits XX% loss. of be whole non-tax adjusted the diluted XX.X unless compared the our now million anticipates fourth expenses non-deductible in Nikhil. Alimera the forecasted non-GAAP an shares of and The year of expectation that, expects acquisition and previous to our deductible rate in and driven of With against nature the

Nikhil Lalwani

to Operator, Healthcare Innovation seeing specialties of at Conference. rheumatology London covering many the in questions. you, growing of business and now in disease the augmented sales and continued the all joining solid the us today. execution. quarter underscores The for Guggenheim's and strength durable expanded person Thank Inaugural please and you for And multiple pulmonology. rare this strategy look Steve. Thank the assets Boston an the in of ophthalmology, and the disease team our nephrology, commercial new rare of neurology, our have We potential Conference highlights Healthcare forward of strong line month open our performance We excited business. later we're you third about Jefferies

Operator

with first Instructions] Our Sandler. David question from [Operator will Amsellem Piper come

David Amsellem

questions. a I of couple So have

out has that all? So landscape And and one. Acthar is you compared looks market coming Gel about Cortrophin can Number your of to away are from business growth. from evolved it is how the returning category. to evolved, new that's the to practitioners how ACTH I number Acthar how am if talked for at wondering payer that who First, has you two versus much about are talk practitioners just moving the Gel But loud who Gel?

you I you the business, and forward? new question had which the that And the us mean your is, can what you mix generics pace there steady new moving then does on grow your 'XX? are help of a the here for business about How launches. So my generics lastly, to understand continue guess thinking launches product? cadence extent to for of can you've

Nikhil Lalwani

David, for thank one. try questions. I'll your take one by you to them

first question landscape on Cortrophin try between the category. So a for sharing competitively sensitive the payer not to relevant for Look, information. balance the information that is and revealing and find investors we ACTH

guidance about affordability as with relationship that growing physicians with in have believe of come space overall and next the you to in regarding smoothing would the in And million patient strong our at class. is will and important think seniors educate That support to most a the think cap, the as growth maintain payer there for for total and these year that look million has that for be the this I recognition Medicare I prepared impactful where question in $XXX you XXXX access market options, out-of-pocket. access. is growth. way about the we've XXXX. from and mechanisms now market growth growth our share landscape, think as or second we the when So million value growth patients along years well at $XXX the recently brings access prescribers? improve the increased believe through we which $XXX that come it X does we team of our have, market achieved been growth to to it patient change most market the from And right, both ANI, should of existing look I your Cortrophin prescribers is out-of-pocket new new To from partners

as to the And so to at We're prescribers of product new both. level, competitive use used as well the that with prescriber prescribers when we're growth been that flares. highlight you that And bring share ANI seeing down including sort gouty with does there Gel. competitor that not Cortrophin the PC have, to just unique acute have the thing to to arthritis are indications is has other that seeing

patients implies the believe ACTH about and growth and is So what which as the does you multiyear on Cortrophin growth and competitors' the XX% also our potential take have. beyond than there's there trajectory, that therapy think we existing more strong we there's few the why a not of also number year-on-year the that market, additional have if you overall just the has guidance, that were indications or a ago, competitor years guidance the

of launches in second business. the So of question for that's Cortrophin. new the on growth does that generics and question on drivers the imply our our of your then the what on trajectory for third And generics on cadence

strong of the and of team, Our track ANI single we compliance digits, cadence to forward will along enable these high delivered believe range R&D U.S.-based factors excellence footprint the continue manufacturing past our will deliver combination different Generics FDA a over with we record, going strong double-digit operational years. as low new the launches. with to grow a few have in the that business the And

Operator

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

Gary Nachman

of $XX is XX. the guidance from close the million YUTIQ, and ILUVIEN September million $XX to Alimera for So on of

terms the products, plan could how those combination think I the also, integration third you into if $XX to could next going in much of we if data DAY I to year? year? $XX in talk out help how the think guess, million see run then you about And quarter, next the reasonable Is it's in with fourth a use? back rate potentially million that growth for quarter. if it's So NEW place, about just And positive, million $X to quarterly accelerate

Nikhil Lalwani

questions. your you thank Gary, Yes. for

sales of country. the guidance. question first the and place deal and the transition. in and on have has organization in ophthalmology YUTIQ a reps dedicated across implied since the period closing, now your We've So QX ILUVIEN XX Look, commercial been hired

their have Some territories. seen realignment representatives of

YUTIQ the promoting Cortrophin. cross-train ILUVIEN, invested has this X X all mid-October. addition, and team the training, across combined time all we've post been products, team sales And since In to products

period of expectations expect and underlying aligned achieve for and growth QX to these the we transition, are the guidance reflects demand for ILUVIEN and with goals confident our are our So that YUTIQ assets. this

growth of regarding and towards quarter Chris, the end model -- for neither the we the hinge you of X as on top growth in run readout NEW your results say non-GAAP to of this And we for in to to said remain EBITDA on Chris the confident rate that of $XX to NEW from and DAY adjusted the answer the hinged we've of high So anything? in that to the on implications that EPS. then ILUVIEN. YUTIQ line the XXXX. have the the did have in expectations implications drive just we million million not growth updating over study, we Alimera the incremental that, beginning commercial our that of to I'll our you And expect turn forward get XXXX X, growth double-digit a But to DAY the deal commercial study. we the low would that that incremental $XX positive look will acquisition regarding study. would accretion anticipate add to that or add and DAY quarter impact I over question trajectory double-digit ILUVIEN perspective, like NEW and on single-digit Having

Christopher Mutz

Yes.

ILUVIEN designed We DME as standard early data patients. DME anti-VEGF really So trial really the compare baseline from those as taking DME consider been that has the ILUVIEN generate in anti-VEGF taking this NEW I revisit approach that and going we've they're have DAY evaluating current with patients clinical of data community therapy way -- that think this getting in data. therapy taken a has is could prospective feedback has And opportunity to retina mentioned these of really been to and has the this anti-VEGF physicians that needed is based care think to role the from therapy before to the it treatment the patients of the injections. multiple and is ILUVIEN potentially treatments standard an receive care the of of anti-VEGF how reconsider for the people been previously, study a on Certainly, has care combination really for generally be to of been patients. care significant in plus

Gary Nachman

in just on days, yet year, ophthalmology from you I expect Cortrophin, Alimera? combined impact seeing are the Cortrophin think half first year, it's of a prefilled the available, said a ophthalmology? convenience much be coming team but you I in with you real standpoint you And next will then What how just then the within a specifically know do from early that pretty the syringe of sort help of benefit And sales think in overall? benefit to with

Nikhil Lalwani

Yes. Thank you Gary. for both again, those questions

prefilled is patients make standpoint bringing to from This take our market offering an use which syringe. versus the syringe. we're to convenience a for the to to increase new it easier it for when easier is patients first, your using make -- to that prefilled I'll have second administration Regarding patient the the question prefilled, that the vial

do their increased have we This while convenience patients. will this using be helpful while the administering that have new impact an that patients So offering will vial. the for -- believe for

and So all And I since days, positive, the team force. in market the the promoting early PCG and signs as part confident guess of products. to your we signs three there on and sharing guide just think are ophthalmology, it's is this it's we towards weeks, that's on remain promising. inform this that will combined look, the are ophthalmology in been a the on be few updates impact in combined that -- And sales your growth And in the Cortrophin of the made then But with look the ophthalmology updates early regarding forward progress question. that of We I mid-October, second again, right? sales said was the further XXXX question first we business. early

Operator

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

Vamil Divan

So two, could. if I

asked were bit different little a Cortrophin one, a questions before. angle of So the on

course parts about continued raise certain this what's to talk a you price? are volume? the Is this You've year. it Is been upside product segments? the Is of maybe of sort from through just Can course So on doing better? unit XXXX, think what and segment beat sort model to for second it you of more rare of being over something and year? just driving the correctly in out the And or prepared in to question, something biggest around want next how then I sure biggest disease your as make the said we about I again XXXX. remarks caught it it

clarify said. just that own? Or a to on just that And you're other to that, what and it altogether comparing its then that's established generics, are generics are as brands you can when segment? you comparing If you you comparing

Nikhil Lalwani

for Yes, thank Vamil Good your and question. morning you

answered growth gout Controphin, prescribers We launch, versus in where prescribing and newer and the ones ophthalmology, on we well And of in asked the areas, think across does volume both a pulmonology. growth new as of I robust almost growth, focused areas from And you as the growth had we of volumes. also in demand see majority nephrology and It's for prescribers that it David price. I from? growth the rheumatology Regarding volumes therapeutic upfront. in first, all as the neurology, at question come see existing comes growth both across

largest growth the as as board. disease So clarification rare seeing we of on forward. ANI that's And disease, sort across driver see a going second, your much pretty then where the company growth the the we're for rare -- of

the question. part clarifies that So that of

Operator

Truist question Securities. [Operator from Our next comes Sulewski Instructions] with Les

Leszek Sulewski

on This is Les. Jeevan for

just transaction, So regards situations as curious potentially take in acquisition similar future? to to any, in away back prevent recent and you you timely Alimera closure consider future learnings the on the the M&A, from if look what

Nikhil Lalwani

Thank Yes. you for question. your

a regarding think I question learnings. great that's

to I think of what other pursue look I on we we for remain strategically as important that sort and ANI. activities, M&A focused think aligned is

saying with the line synergistic scale year. highly for acquisition. to So acquisition It disease rare a day and actually our one, And we've in scope almost business, something expand Alimera right what been over is is of we that which have been helps pursuing. that's from a continue the

experience warning continue vary forward the through to work address the do since closer address and deal, that there to and -- lesson way the with letter That's remain raised by are is are we gathering even the that and be points the to address our collaboration to and FDA. the will closed the well we then closely related that continue the come And working may stay of address forward. understand can capability, what bumps from And have to deal with issues supply the and to to we we that we one make sticking EyePoint challenges will of acquisition those is, and acquisition, expertise have acquisition, with there and and want challenge that challenge right? and sort there the satisfactory acquisition the positioned Alimera challenge, with the to we the that and has believe we challenges. become that we up, to the engagement on the there. a move So that has challenge, to second strategy. we But YUTIQ work as signing And EyePoint that the an since EyePoint that ensure been sure along to you from confident

security as and patients on on work anticipate need. gone the been same to for for standard continuity they've impact we giving fact, in ILUVIEN look, chain is of towards it And supply updates are YUTIQ ANI no steps supply redundancies practice products. creating YUTIQ. Accordingly, to taking for In along. supply high-value both in we they've to increase And

And look, in the suppliers. a given FDA we acquisition. else So these the was in something have It it that jointly that run in experience make area, our we records to have, our expertise this as addressing may and expertise with and there and we case, question, In we compliance future track that experience going sure to related bear. be your acquisitions we and supply. way three bring strong plants the along the will U.S. significant this like be back capability points in Jeevan, do to with bumps

our those we you, along strategy and address. Jeevan. sticking the sure bumps the So when that would are -- and lessons Thank the that making way to understand I come bumps that

Operator

call time, closing in I Nikhil will further for I the back Lalwani turn no queue. show to At remarks. questions this

Nikhil Lalwani

for forward interest and Yes. engaging Thank on thank We our as have with look you everybody, Thank you, and forward your the in you. conferences you continue call, that we our updating to and up forward. look seeing at progress you for joining move ANI. you to coming we

Operator

Thank earnings XXXX you. call. This Third Quarter does conclude the ANI Pharmaceuticals, Inc., results

this your may at have time, line You wonderful and a day. disconnect

ANI Pharmaceuticals (ANIP) 8 Nov 242024 Q3 Earnings call transcript