ANI Pharmaceuticals has acquired the approved abbreviated new drug application ("ANDA") for Flecainide Acetate tablets USP 50mg, 100mg and 150mg, previously marketed by Teva Pharmaceuticals.

ANI Pharmaceuticals, Inc. Acquires Generic Drug Product From Teva (TEVA)

BAUDETTE, Minn., March 5, 2015 /PRNewswire/ -- ANI Pharmaceuticals, Inc. ("ANI") (NASDAQ: ANIP) today announced that it has acquired the approved abbreviated new drug application ("ANDA") for Flecainide Acetate tablets USP 50mg, 100mg and 150mg, previously marketed by Teva Pharmaceuticals. According to IMS Health, the overall market for this product was approximately $39 million in 2014.

Arthur S. Przybyl, President and CEO of ANI Pharmaceuticals, stated, "This acquisition further expands our near-term generic pipeline. We intend to re-launch the product within the next 12 months. We are excited that this transaction further extends the ANI-Teva relationship."

ANI has forty-seven generic drug products under development addressing a total annual market size of approximately $3.0 billion, based on data from IMS Health.

About Flecainide Tablets USP

Flecainide acetate is an antiarrhythmic drug indicated for use in patients without structural heart disease for the prevention of paroxysmal supraventricular tachycardias (PSVT), including atrioventricular reentrant tachycardia and other supraventricular tachycardias of unspecified mechanism associated with disabling symptoms as well as paroxysmal atrial fibrillation/flutter (PAF) associated with disabling symptoms. Flecainide acetate tablets USP are also indicated for the prevention of documented ventricular arrhythmias, such as sustained ventricular tachycardia (sustained VT), that in the judgment of the physician are life-threatening.

About ANI

ANI Pharmaceuticals, Inc. (the "Company" or "ANI") is an integrated specialty pharmaceutical company developing, manufacturing, and marketing branded and generic prescription pharmaceuticals. The Company's targeted areas of product development currently include narcotics, oncolytics (anti-cancers), hormones and steroids, and complex formulations involving extended release and combination products. For more information, please visit our website www.anipharmaceuticals.com.