ANI Pharma Reveals Clearance From FTC For Acquisition Of Novitium

(RTTNews) - ANI Pharmaceuticals, Inc. (ANIP) Thursday said the U.S. Federal Trade Commission has accepted the proposed consent order to acquire Novitium Pharma. As per the agreement, FTC's acceptance satisfies all required antitrust clearances. ANI, a diversified biopharmaceutical company, further noted that the acquisition will be completed on or about November 18, 2021.

Earlier in March, ANI Pharma had announced its plan to acquire New Jersey-based privately held Novitium for $163.million. The deal includes $89.5 million in cash and $74 million in equity plus two potential future cash earn-outs of up to $46.5 million.

The transaction is expected to be immediately accretive to ANI's adjusted EBITDA and long-term growth.