ANI Pharmaceuticals Secures Major Acquisition Deal With Alimera Sciences

The transaction, which values Alimera at approximately $381 million in initial consideration, has received approval from both the ANI and Alimera Boards of Directors. The closing of the transaction is expected to occur in the latter part of the third quarter of 2024. Alimera is a global pharmaceutical company dedicated to enhancing vision longevity for patients, physicians, and partners.

Alimera's portfolio includes two commercial products addressing critical eye conditions: diabetic macular edema (DME) and chronic non-infectious uveitis affecting the posterior segment (NIU-PS). ILUVIEN (fluocinolone acetonide intravitreal implant 0.19mg) is approved for DME in the U.S., Europe, and the Middle East, and for NIU-PS in Europe and the Middle East. YUTIQ (fluocinolone acetonide intravitreal implant 0.18mg) is available in the U.S. and indicated for the treatment of chronic NIU-PS.

Nikhil Lalwani, CEO and President ANI, said, “We believe this is a transformational acquisition for ANI, and one that aligns with our strategy to expand our Rare Disease business and deliver on our purpose of ‘Serving Patients, Improving Lives’. Late last year, we identified ophthalmology as a key strategic therapeutic area for the Company and, in the first quarter of 2024, expanded our Rare Disease team to promote Purified Cortrophin Gel (Cortrophin Gel) to ophthalmologists. Alimera represents what we believe is a highly synergistic complement to this newly established specialty and will leverage our existing Rare Disease infrastructure.”

Furthermore, Lalwani is confident that ANI’s demonstrated expertise in commercial execution can effectively maximize the potential of ILUVIEN and YUTIQ. This acquisition is anticipated to generate significant value for shareholders, with adjusted Non-GAAP EPS expected to increase by high single-digit to low double-digit percentages in 2025, followed by substantial further gains thereafter.

“We are pleased to have reached this agreement with ANI, which we believe recognizes the value we have created at Alimera and creates compelling value for our shareholders. ANI and Alimera share a common mission of putting patients first, and this complementary transaction creates a bigger platform to leverage our global infrastructure and outstanding team,” said Rick Eiswirth, President and CEO of Alimera.