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Impressive Q2 Performance Drives Further Guidance Raise At ANI

Firm Now Anticipates 2023 Net Revenue Between $425m And $445m

 
• By Chloe Kent

Management at ANI has upped its estimates for the second time this year after another impressive quarter, driven by Cortrophin gel and a strong generics performance.

Vector of a businessman blowing a horn shaped like a dollar sign
ANI's performance was driven by generic products and Cortrophin gel • Source: Shutterstock

ANI Pharmaceuticals, Inc. has raised its annual guidance for the second quarter in a row, as launch momentum remained strong for Cortrophin gel (repository corticotropin injection) 80 U/ml with a record number of new patient starts and new unique subscribers. The rest of the business also delivered strong results during the quarter, as ANI received four generic ANDA approvals and expanded its commercialization efforts into several new sales channels.

The company now expects net revenue of $425m-$445m, compared to a previous estimate of $385m-$410m, for the full year of 2023. It has also raised its non-GAAP EBITDA guidance to $115m-$125m from $97m-$107m

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