Short answer
ANI PHARMACEUTICALS INC (ANIP) filed its fiscal 2025 10-K annual report with the SEC on Feb 27, 2026. It reported revenue of $883M (+43.8% year over year) and net income of $78M.
- Top risk flagged: Regulatory/legal risk: Compliance with Medicaid Drug Rebate Program risks material penalties due to increased rebate accruals from branded and authorized generic products
FY2025 key financial metrics · XBRL
- Revenue
- $883M
- +43.8% YoY
- Net income
- $78M
- +522.9% YoY
- Operating margin
- 12.6%
- +12.5 pp YoY
- EPS (diluted)
- $3.32
- +419.2% YoY
- ROE
- 14.5%
- +19.1 pp YoY
- Operating cash flow
- $185M
- +189.3% YoY
Source: XBRL data from the ANI PHARMACEUTICALS INC (ANIP) FY2025 10-K on SEC EDGAR. USD.
ANI PHARMACEUTICALS INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: developing, manufacturing, commercializing therapeutics via Rare Disease, Generics, and Brands segments
- Acquired Alimera Sciences on September 16, 2024, adding ILUVIEN® and YUTIQ® products
- Strategic expansion into ophthalmic specialty products through acquisition
- Acquisition introduces new product lines, diversifying portfolio beyond prior scope
Management Discussion & Analysis
- Total revenue details not provided for FY 2024; Alimera acquisition adds ILUVIEN® and YUTIQ® franchises
- No segment-specific revenue or profit data disclosed
- Sale of Oakville facility for $14.2 million completed in March 2024; no other cash flow or capital allocation details given
- Management highlights growth via ILUVIEN label expansion and Alimera acquisition; no formal guidance or risk outlook stated
Risk Factors
- Regulatory/legal risk: Compliance with Medicaid Drug Rebate Program risks material penalties due to increased rebate accruals from branded and authorized generic products
- Geopolitical/macro risk: 17% of raw materials/API from one domestic supplier in 2025; supply disruption risk from FDA inspections and trade or geopolitical tensions
- Operational/supply chain risk: Reliance on single-source third-party contract manufacturers for Cortrophin Gel and ILUVIEN, risking commercialization delays if noncompliant or unavailable
- Competitive risk: Dependence on Cortrophin Gel, competing with major pharma companies and generics that may have fewer side effects and higher physician acceptance
- Financial/structural risk: 2024 Credit Agreement contains restrictive financial covenants, with potential for accelerated debt repayment and termination if breached
Generated from the filing text; verify against the original. How to read a 10-K
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.