WASHINGTON (dpa-AFX) - ANI Pharmaceuticals, Inc. (ANIP) Tuesday has completed the buyout of its 3.125 percent perpetual royalty obligation to SWK Funding LLC on global net revenues of ILUVIEN and YUTIQ.
The one-time payment of $17.25 million ensures that no further royalties will be owed to SWK on net revenues from January 1, 2025, onward. The company funded the transaction with cash on hand.
According to ANI's President and CEO, Nikhil Lalwani, the move strengthens the company's Retina portfolio while enhancing financial flexibility. By eliminating this obligation, ANI aims to accelerate growth and maximize the long-term value of ILUVIEN and YUTIQ in alignment with its mission to serve patients and improve lives.
ANIP is currently trading at $64.71 or 0.55% higher on the Nasdaq Global Market.
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