ANI Pharmaceuticals to Acquire Alimera Sciences in $381 Million Deal

ANI Pharmaceutical has signed a definitive agreement to acquire Alimera at approximately $381 million. The agreement has been approved by both companies' Boards of Directors and is anticipated to close in the late third quarter of 2024.

Alimera Sciences, a global pharmaceutical company focused on improving vision longevity for patients, specializes in treatments for diabetic macular edema (DME) and chronic non-infectious uveitis affecting the posterior segment (NIU-PS) of the eye. Its products include ILUVIEN, approved for DME and NIU-PS in various markets, and YUTIQ, available for NIU-PS in the U.S.

Nikhil Lalwani, President and CEO of ANI, stated, “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. We believe ANI’s proven commercial execution capabilities can further unlock ILUVIEN and YUTIQ, two growing and durable assets that would add approximately $105 million in pro forma 2024 revenues to our Company.”

Rick Eiswirth, President and CEO of Alimera Sciences, emphasized the shared commitment to patient care and the potential for the combined entity to enhance global reach in ophthalmology. Eiswirth thanked Alimera employees for their dedication and expressed optimism about collaborating with ANI to finalize the transaction and strengthen its presence in the ophthalmology market.

The acquisition is projected to contribute approximately $105 million in pro forma revenues to ANI in 2024 and is expected to be accretive to adjusted Non-GAAP EPS by high single-digit to low double-digit percentages in 2025, with further accretion in subsequent years.

Both companies are now focused on securing regulatory approvals and completing the necessary closing conditions to finalize the transaction by the anticipated timeline.

*Stay in the loop and make sure not to miss real-time breaking news about ophthalmology. Join our community by subscribing to OBN newsletter now, and get weekly updates.