ANI Pharmaceuticals’ Acquisiiton of Novitium Pharma

Hughes Hubbard & Reed LLP represented ANI Pharmaceuticals in the transaction.

ANI Pharmaceuticals signed an agreement to acquire Novitium Pharma for $89.5 million in cash and $74 million in ANI stock, plus two potential future cash earn-outs of up to $46.5 million. ANI’s board and Novitium’s equity holders have approved the deal, which is expected to close in the second half of 2021.

Founded in 1996 and headquartered in Baudette, Minn., ANI is an integrated specialty pharmaceutical company developing, manufacturing and marketing branded and generic prescription drugs. The company’s targeted areas of product developments currently include narcotics, oncolytics (anti-cancers), hormones and steroids.

With operations in East Windsor, N.J. and Chennai, India, Novitium specializes in the development, manufacturing and distribution of niche generic products. Since Novitium’s founding in 2016, the company has developed a growing commercial product portfolio spanning a diverse range of dosage forms and therapeutic categories.

The HHR team was led by Partners Gerold Niggemann (Picture) and Ken Lefkowitz, with key support from partners Gary Simon, Philip Giordano, Avner Bengera, Steve Greene, Spencer Harrison, Andy Braiterman, Ruben Diaz, Matthew Syrkin, Rita Haeusler, Patrice Jean, Bill Kolasky, Robert Bell, Ryan Fayhee, Robb Patryk and Andrew Fowler; counsel M. Shams Billah, Carol Remy, Jenny Graham and Erin DeCecchis; associates Brandon Gershowitz, Javad Husain, Andrew Herman, Justin Cohen, Flavio Averbug, David Lansky; and law clerk Andrea Castro-Mendivil. 

Involved fees earner: Flavio Averbug – Hughes Hubbard & Reed; Robert Bell – Hughes Hubbard & Reed; Avner Bengera – Hughes Hubbard & Reed; Shams Billah – Hughes Hubbard & Reed; Andy Braiterman – Hughes Hubbard & Reed; Justin Cohen – Hughes Hubbard & Reed; Erin DeCecchis – Hughes Hubbard & Reed; Ruben Diaz – Hughes Hubbard & Reed; Ryan Fayhee – Hughes Hubbard & Reed; Andrew Fowler – Hughes Hubbard & Reed; Brandon Gershowitz – Hughes Hubbard & Reed; Philip Giordano – Hughes Hubbard & Reed; Jennifer Graham – Hughes Hubbard & Reed; Steven Greene – Hughes Hubbard & Reed; Rita Haeusler – Hughes Hubbard & Reed; Spencer Harrison – Hughes Hubbard & Reed; Andrew Herman – Hughes Hubbard & Reed; Javad Husain – Hughes Hubbard & Reed; Patrice Jean – Hughes Hubbard & Reed; William Kolasky – Hughes Hubbard & Reed; David Lansky – Hughes Hubbard & Reed; Kenneth Lefkowitz – Hughes Hubbard & Reed; Gerold Niggemann – Hughes Hubbard & Reed; Robb Patryk – Hughes Hubbard & Reed; Carol Remy – Hughes Hubbard & Reed; Gary Simon – Hughes Hubbard & Reed; Matthew Syrkin – Hughes Hubbard & Reed;

Law Firms: Hughes Hubbard & Reed;

Clients: ANI Pharmaceuticals;

Author: Martina Bellini