ANIP · ANI Pharmaceuticals, Inc.

ANI Pharmaceuticals released an updated investor presentation on May 13, 2026, via its website, intended for use in investor and analyst meetings, signaling confidence in its transformation into a leading Rare Disease company. The presentation highlights projected total net revenue of approximately $1.1 billion for full year 2026, representing a 26% year-over-year increase from 2025 guidance midpoint and following 44% growth in 2025. This trajectory is underpinned by a virtuous cycle of growth across Rare Disease brands, generics, with Rare Disease expected to comprise ~60% of revenues. Cortrophin Gel remains the lead asset, with 2026 priorities focused on maximizing multi-year growth by addressing unmet needs in underpenetrated indications like nephrology, neurology, rheumatology, ophthalmology, pulmonology, and acute gouty arthritis flares—supported by recent commercial team onboarding and an advancing Phase 4 trial. ILUVIEN aims to return to growth leveraging 2025 commercial and patient access initiatives. The generics segment continues to provide strong cash flows through superior R&D, operational execution, U.S. manufacturing, and business development. Adjusted non-GAAP EBITDA is guided at $285-$300 million, reflecting +51% CAGR from 2022, with disciplined capital allocation emphasized. Guidance originates from the May 8, 2026 earnings call and is not reconfirmed post that date, per forward-looking disclaimers. Non-GAAP metrics like adjusted EBITDA, diluted EPS, and gross margin are presented to highlight operating performance excluding non-cash items, M&A costs, and other variables, with reconciliations in the appendix.