ANI plans immediate launch of Lithobid
- ANI Pharmaceuticals has acquired the NDA for Lithobid tablets from Noven Therapeutics. Lithobid is used for the treatment of manic episodes in patients with bipolar disorder.
- The $12 million transaction included $11 million up front and $1 million in milestone payments to come.
- Lithobid will be launched as an ANI product in July 2014. The fact that ANI has been the contract manufacturer for Lithobid facilitates an immediate launch.
Because of the contract manufacturing relationship between ANI and Noven Therapeutics, ANI will be able to reap immediate sales revenues from Lithobid -- about $4 million annually. “This transaction represents our second mature brand acquisition and underscores our strategy of augmenting internal generic product development efforts with acquisitions and partnerships for late stage ANDA products and mature brands," CEO Arthur Przybyl said.
- Pharmaceutical Business Review ANI Pharma acquires Lithobid tablets from Noven Therapeutics