ANI Pharma Posts Mixed Bag Q4 Earnings, FY22 Sales Outlook Trails Street Consensus

ANI Pharmaceuticals Inc's ANIP Q4 revenues were $60.9 million, +6.4% Y/Y, beating the consensus of $56.30 million.
Net revenues for generic pharmaceutical products were $41.6 million, +8% primarily due to the Novitium acquisition and Q3 launch of Nebivolol, tempered by sales declines for Tolterodine and Vancomycin and lower average selling prices of generic products.
Branded pharmaceutical products sales decreased 7% to $14.7 million due to fewer Arimidex and Inderal XL units.
Contract manufacturing revenues reached $2.8 million, +26%, principally due to the Novitium acquisition.
Adjusted EPS of $0.54 was lower than $0.80 reported a year ago and missing the consensus of $0.74.
ANI Pharmaceuticals held $100.3 million in unrestricted cash and cash equivalents plus $128.5 million in net accounts receivable, with a debt of $300.0 million.
Guidance: For FY22, ANIP expects sales (ex-Purified Cortrophin Gel measures) of $260 million - $275 million, below the consensus of $301.57 million.
The Company forecasts adjusted EBITDA of $70 million - $75 million.
Price Action: ANIP shares are down 3.25% at $34.50 premarket on the last check Tuesday.

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