ANI Pharmaceuticals, Inc. (ANIP) on Friday registered a net profit for the third quarter, supported by increased revenue from rare disease and brands business. In addition, the company has revised up its annual outlook.
For the three-month period to September 30, the drug maker posted a net income of $26.273 million, or $1.13 per share, compared with a net loss of $24.572 million, or $1.27 per share, in the same period last year.
Excluding items, earnings were $41.991 million, or $2.04 per share, higher than $26.492 million, or $1.34 per share, a year ago.
Operating profit stood at $36.240 million as against the prior year's loss of $20.519 million. Revenue was $227.813 million, higher than $148.332 million a year ago. Revenue from Rare disease and brands surged to $129.125 million from last year's $65.621 million.
For fiscal 2025, ANI Pharmaceuticals now expects adjusted income of $7.37 to $7.64 per share, higher than the earlier guidance of $6.98 to $7.35 per share.
The drug maker now anticipates revenue of $854 million to $873 million against the prior expectation of $818 million to $843 million.
For fiscal 2024, the company had posted adjusted profit of $5.20 per share on revenue of $614 million.
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