ANI Pharmaceuticals Expands Rare Disease Offerings


The company acquires Alimera Sciences for $381 million upfront, while establishing its interest in ophthalmology.

Image Credit: Adobe Stock Images/

Image Credit: Adobe Stock Images/

ANI Pharmaceuticals, Inc., a biopharma company in the branded and generic prescription sector, and Alimera Sciences, Inc., who operates in the retinal health space, has purchased Alimera for approximately $381 million.1 Per the deal, this equates to $5.50 per share in cash at closing, while also including one non-tradable contingent value right (CVR) for the right to receive up to $0.50 per share once specific net revenue targets in both 2026 and 2027. The transaction is expected to close late Q3 2024.

Alimera designed two commercial products for the treatment of diabetic macular edema (DME) and chronic non-infectious uveitis that impacts the posterior segment (NIU-PS) of the eye. ILUVIEN (fluocinolone acetonide intravitreal implant 0.19 mg) is indicated for DME in the United States., Europe, and the Middle East, along with NIU-PS in Europe and the Middle East. YUTIQ (fluocinolone acetonide intravitreal implant 0.18mg) is solely available in the United Sates, being indicated for the treatment of chronic NIU-PS.

“We believe this is a transformational acquisition for ANI, and one that aligns with our strategy to expand our rare disease business and deliver on our purpose of ‘Serving Patients, Improving Lives,’” said Nikhil Lalwani, ANI’s president and CEO. “Late last year, we identified ophthalmology as a key strategic therapeutic area for the company and, in the first quarter of 2024, expanded our rare disease team to promote Purified Cortrophin Gel (Cortrophin Gel) to ophthalmologists.

“Alimera represents what we believe is a highly synergistic complement to this newly established specialty and will leverage our existing rare disease infrastructure. We believe ANI’s proven commercial execution capabilities can further unlock ILUVIEN and YUTIQ, two growing and durable assets that would add approximately $105 million in pro forma 2024 revenues to our company. The transaction is expected to drive substantial shareholder value creation through high single-digit to low double-digit accretion in adjusted Non-GAAP EPS in 2025 and a substantial increase in accretion thereafter.”

At the end of day—suggested one Alimera executive—one’s priorities should link back to what matters most of all, the patient.

“We are pleased to have reached this agreement with ANI, which we believe recognizes the value we have created at Alimera and creates compelling value for our shareholders,” noted Rick Eiswirth, president and CEO of Alimera. “ANI and Alimera share a common mission of putting patients first, and this complementary transaction creates a bigger platform to leverage our global infrastructure and outstanding team. I would like to thank Alimera employees, past and present, for always finding a way to help patients maintain better vision longer. We look forward to working with ANI to complete this transaction and help grow its presence in the ophthalmology segment.”

In other news, Alimera recently launched Kionex (Sodium Polystyrene Sulfonate Suspension USP) for oral or rectal use.2 According to the company, Kionex Suspension is the only commercially available therapeutically equivalent to the reference listed drug (RLD) SPS Suspension for Oral or Rectal use.

“ … This launch is especially meaningful given the complexity of the development and is a testament to the tireless efforts of our strong R&D team to meet the updated guidance from the US Food and Drug Administration,” commented Lalwani.


1. ANI Pharmaceuticals to Further Expand Rare Disease Business Through Acquisition of Alimera Sciences. ANI Pharmaceuticals. June 24, 2024. Accessed June 25, 2024.

2. ANI Pharmaceuticals Announces the Launch of Kionex Suspension. ANI Pharmaceuticals. May 20, 2024. Accessed June 25, 2024.

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