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Makes and markets generic and branded specialty pharmaceuticals, including rare disease drugs.
Makes and markets generic and branded specialty pharmaceuticals, including rare disease drugs.
Earns from three sources: generic drugs, often hard-to-make or niche, sold to wholesalers and pharmacies; brands led by Cortrophin Gel, a corticotropin drug doctors use for flare-ups in conditions such as arthritis and lupus; and manufacturing for other drugmakers. The 2024 purchase of Alimera Sciences added eye-care products.
Moat: narrow (regulatory licence, distribution, scale). Diversified generics base plus a growing branded rare-disease franchise with regulatory exclusivity.
Headquarters: Baudette, Minnesota, US · Founded: 1993 · Employees: 970
Size ANI Pharmaceuticals (ANIP) is a United States Health Care company (Biotechnology) with a market value of $1.55B, the 1973rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $67.41 on 6 Nov 2026.
Performance Over six months the shares fell 17.6%, against -19.4% for the median peer and -1.1% for the United States market (cap-weighted) — 9th highest of 18 in its peer set.
Growth Revenue grew 30.9% over the last twelve months (peer median +23.4%); the operating margin is 13.3% (peer median -328.1%).
Valuation It trades at 7.6× forward earnings against a peer median of 32.0× (2nd cheapest of 5).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +33%, so the hurdle is -38 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.8 points above its cost of capital (6.6% WACC).
Credit ANI Pharmaceuticals has 1 bond outstanding ($316M).
Short interest Short interest is 15.1% of the free float (15 Oct 2026).
Next results Next results expected around 26 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $978M | $883M | $614M | $487M | $316M |
| Revenue growth | — | +44% | +26% | +54% | — |
| Gross profit | $505M | $451M | $296M | $246M | $121M |
| EBITDA | $216M | $173M | $69.9M | $109M | $31.2M |
| Net income | $100.0M | $71.4M | -$18.5M | $18.8M | -$47.9M |
| Free cash flow | $173M | $171M | $47.8M | $110M | -$40.1M |
| Capital expenditure | $21.9M | $34.3M | $17.0M | $18.5M | $16.5M |
| Total debt | $610M | $628M | $649M | $315M | $289M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| ANI Pharmaceuticals ANIP | $1.55B | -18% | +31% | 13% | 7.6× | -4.1% |
| Amneal Pharmaceuticals AMRX | $7.01B | +53% | +9% | 17% | 17.7× | 15.2% |
| Teva Pharmaceutical Industries Limited Sponsored ADR TEVA | $49.7B | +19% | -4% | 19% | 15.1× | 10.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ANIP | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.3% | -7.0% | 10th highest of 21 |
| 6-month return | -17.6% | -19.4% | 9th highest of 18 |
| Distance from 52-week high | -29.4% | -46.7% | 5th highest of 21 |
| Revenue growth (TTM) | +30.9% | +23.4% | 7th highest of 17 |
| Operating margin | 13.3% | -328.1% | 4th highest of 17 |
| Forward P/E | 7.6× | 32.0× | 2nd cheapest of 5 |
| Growth the price implies (Req g, 7 yrs) | -4.1% | n/a | — |
| Growth delivered (Del g) | +33.5% | n/a | — |
| Hurdle (Req g minus delivered) | -37.6 pp | n/a | — |
| ROIC minus cost of capital | +5.8 pp | -43.5 pp | 2nd highest of 11 |
| EV / EBITDA | 8.2× | n/a | — |
| Net debt / EBITDA | 1.1× | -3.2× | most indebted of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| ANI Pharmaceuticals ANIP | United States | $1.55B | -18% | +31% | 13% | 7.6× | -4.1% | +33.5% |
| TLC BioSciences 7924.TWO | Taiwan | $1.57B | n/a | n/a | n/a | n/a | n/a | n/a |
| Fujian Haixi Pharmaceuticals 2637.HK | Hong Kong | $1.53B | -41% | +25% | 33% | 48.2× | n/a | n/a |
| Hugel 145020.KS | South Korea | $1.52B | -26% | +17% | 38% | 15.7× | -7.9% | +15.0% |
| Zhuhai Trinomab Pharmaceutical 688806.SS | China | $1.58B | n/a | +238% | -1,196% | n/a | n/a | n/a |
| Intellia Therapeutics NTLA | United States | $1.59B | -19% | +13% | -712% | n/a | n/a | n/a |
| uniQure QURE | United States | $1.51B | -22% | +30% | -1,093% | n/a | n/a | n/a |
| Immunocore Holdings Plc Shs Sponsored American Depositary Shares Repr 1 Sh IMCR | United States | $1.60B | +5% | +20% | -5% | n/a | n/a | n/a |
| Precigen PGEN | United States | $1.60B | +6% | +1,875% | -46% | 6.9× | n/a | n/a |
| PELL Bio-Med Technology 6949.TW | Taiwan | $1.49B | +126% | +5% | -1,720% | n/a | n/a | n/a |
| PolyPeptide PPGN.SW | Switzerland | $1.62B | +6% | +22% | 7% | 51.3× | n/a | n/a |
| Nuvation Bio NUVB | United States | $1.46B | -13% | +1,084% | -81% | n/a | n/a | n/a |
| Wuhan Healthgen Biotechnology 688765.SS | China | $1.64B | -44% | +90% | -297% | n/a | n/a | n/a |
| Tyra Bioscience TYRA | United States | $1.45B | -38% | n/a | n/a | n/a | n/a | n/a |
| Kardigan KARD | United States | $1.45B | n/a | n/a | n/a | n/a | n/a | n/a |
| Peptron 087010.KS | South Korea | $1.67B | -63% | +16% | -427% | n/a | n/a | n/a |
| Nurix Therapeutics NRIX | United States | $1.67B | -7% | +739% | 41% | n/a | -19.0% | +36.4% |
| Generate Biomedicines GENB | United States | $1.68B | -4% | +56% | -737% | n/a | n/a | n/a |
| Kailera Therapeutics KLRA | United States | $1.68B | -40% | n/a | n/a | n/a | n/a | n/a |
| Korsana Biosciences KRSA | United States | $1.41B | +43% | -13% | -359% | n/a | n/a | n/a |
| Taysha Gene Therapies TSHA | United States | $1.41B | -36% | -32% | -2,855% | n/a | n/a | n/a |
ANI Pharmaceuticals has 1 bond outstanding with $316M face value.