ANIP - ANI Pharmaceuticals stock rises after FDA approval of generic antibiotic
2023-04-24 07:30:10 ET
- ANI Pharmaceuticals ( NASDAQ: ANIP ) said the U.S. Food and Drug Administration (FDA) approved its generic antibacterial medicine Nitrofurantoin Oral Suspension USP 25 mg/5 ml.
- The drug is the generic version of Furadantin, an antibiotic used to treat urinary tract infections.
- The company said the annual U.S. market for Nitrofurantoin Oral Suspension is ~$55.5M, according to estimates by IQVIA/IMS Health.
- "New product approvals and launches remain our top priority as we continue to grow our generics business," said ANI President and CEO Nikhil Lalwani.
- Earlier in April, the company's generic cholesterol-lowering drug Colestipol Hydrochloride Tablets had received FDA approval.
- ANIP +6.28% to $42 premarket April 24
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ANI Pharmaceuticals stock rises after FDA approval of generic antibiotic