ANI Pharmaceuticals (ANIP) Corporate presentation summary

Strategic transformation and growth focus

• Projected to surpass $1 billion in total net revenue in 2026, with Rare Disease as the primary growth driver and expected to represent about 60% of total revenues.

• Lead asset Cortrophin Gel is positioned for substantial, durable multi-year growth, with a dedicated organization targeting acute gouty arthritis flares.

• Generics business continues to deliver strong cash flows, supported by robust R&D, operational execution, and a U.S.-based manufacturing footprint.

Financial performance and guidance

• Achieved 44% YoY net revenue growth in 2025, reaching $883 million, with adjusted non-GAAP EBITDA up 47% to $230 million.

• 2026 guidance projects total net revenue of $1,055–$1,115 million and adjusted non-GAAP EBITDA of $275–$290 million.

• Adjusted non-GAAP diluted EPS expected to rise to $8.83–$9.34 in 2026, with gross margin guidance of 59.3%–60.3%.

Rare Disease business and Cortrophin Gel

• Rare Disease segment generated 84% YoY topline growth in 2025, with Cortrophin Gel net revenue up 76% to $348 million.

• Cortrophin Gel addresses significant unmet needs across multiple indications and is expected to generate $540–$575 million in 2026.

• ACTH market returned to double-digit growth post-Cortrophin Gel launch, with high barriers to generic entry and underpenetrated patient populations.