Generics Player ANI Pharmaceuticals Strengthens Rare Disease Segment With $380M Alimera Sciences Deal
Portfolio Pulse from Vandana Singh
ANI Pharmaceuticals Inc (NASDAQ:ANIP) has agreed to acquire Alimera Sciences Inc (NASDAQ:ALIM) for $5.50 per share in cash and a contingent value right (CVR) of up to $0.50 per share. The deal, valued at approximately $381 million, includes the repayment of $72.5 million of Alimera's debt and is expected to close in Q3 2024. The acquisition will expand ANI's rare disease segment and international footprint, adding Alimera's products Iluvien and Yutiq to its portfolio. ANI expects significant revenue and EPS accretion from the deal.
June 24, 2024 | 3:28 pm
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POSITIVE IMPACT
Alimera Sciences' shares surged 76.5% following the announcement of its acquisition by ANI Pharmaceuticals. The deal values Alimera at $5.50 per share in cash plus a contingent value right, providing a substantial premium to its current share price.
The acquisition provides a significant premium to Alimera's current share price, leading to a sharp increase in its stock value. The deal offers immediate value to shareholders.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
ANI Pharmaceuticals' acquisition of Alimera Sciences is expected to significantly boost its rare disease segment and international presence. The deal will add approximately $105 million in pro forma 2024 revenues and is anticipated to be accretive to adjusted non-GAAP EPS in 2025.
The acquisition will significantly enhance ANI's revenue base and international footprint, adding valuable products to its portfolio. The expected accretion to EPS and revenue growth are positive indicators for the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100