ANI Pharmaceuticals projects 2026 revenue to exceed $1 billion

ANI Pharmaceuticals Inc. (NASDAQ: ANIP) reported preliminary 2025 financial results and provided 2026 guidance, projecting total net revenues between $1.055 billion and $1.115 billion for the upcoming year.

The company expects its 2025 performance to meet or exceed previously issued guidance, with total net revenues of $854 million to $873 million, adjusted non-GAAP EBITDA of $221 million to $228 million, and adjusted non-GAAP diluted earnings per share of $7.37 to $7.64.

Cortrophin Gel, ANI's rare disease treatment, generated preliminary net revenues of $347.8 million in 2025, representing a 76% increase from the prior year. The company projects Cortrophin Gel revenues of $540 million to $575 million in 2026, indicating growth of 55% to 65%.

For 2026, ANI forecasts adjusted non-GAAP EBITDA between $275 million and $290 million, with adjusted non-GAAP diluted earnings per share projected at $8.83 to $9.34. The company expects its rare disease business to represent approximately 60% of total net revenues in 2026.

ANI announced plans to expand its rare disease organization by approximately 90 personnel to target acute gouty arthritis flares, an indication specific to Cortrophin Gel. The expansion is scheduled for deployment by mid-2026.

The company reported cash and cash equivalents of approximately $285 million as of December 31, 2025. ANI maintains guidance for 10 to 15 new generic product launches annually and plans to invest a high single-digit percentage of generic revenues into research and development.

The preliminary results are unaudited and subject to completion of financial closing procedures and audit finalization, according to the company's statement.

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