ANI Pharmaceuticals Acquires Inderal® XL and InnoPran XL®

ANI Pharmaceuticals has acquired Inderal® XL from Cranford Pharmaceuticals, LLC and InnoPran XL® from Holmdel Pharmaceuticals LP. The acquired assets include the NDA and trademark for InnoPran XL® including a license to an Orange Book listed patent, and a distribution license and trademark for Inderal® XL as well as finished goods inventory of both products. Inderal® XL and InnoPran XL® are currently available in 80mg and 120mg sustained release capsules and are indicated for hypertension. Inderal® XL and InnoPran XL® generated combined sales of $23.3 million in calendar year 2016, according to IMS Health. The acquisitions were funded through a combination of cash and debt.

In conjunction with the announcement, ANI has immediately begun selling both Inderal® XL 80mg and 120mg sustained release capsules as well as InnoPran XL® 80mg and 120mg sustained release capsules under their current labels. ANI will transition both products to the ANI label at a future date.

Arthur S. Przybyl, ANI's President and CEO stated, "We are excited to add these two patent protected products to our existing brand business and to further extend our commercial portfolio of brand and generic extended release beta blockers."