ABBV - ANI Pharma surges 44% following strong earnings expanded approval; hits 52-week high

ANI Pharmaceuticals (ANIP +46.1%) shares are sharply higher today after the company reported better than expected Q3 2021 earnings and was granted an expanded approval for its cortrophin gel. The company hit a 52-week high of $57.69 earlier in the morning. ANI also said its acquisition of Novitium Pharma is slated to close this month. The expanded approval allows for the gel's use in acute exacerbations of multiple sclerosis and rheumatoid arthritis. In September, ANI launched nebivolol, a generic version of Abbvie's (ABBV -0.5%) Bystolic.

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ANI Pharma surges 44% following strong earnings, expanded approval; hits 52-week high