RESTRUCTURING CANADA OPERATIONS

9 Months Ended

Sep. 30, 2025

Restructuring and Related Activities [Abstract]

RESTRUCTURING CANADA OPERATIONS

RESTRUCTURING CANADA OPERATIONS

On March 31, 2023, the Company ceased operations at the Oakville, Ontario, Canada manufacturing plant. This action was part of ongoing initiatives to capture operational synergies following the acquisition of Novitium in November 2021. ANI has fully completed the transition of the products manufactured or packaged in Oakville to one of the Company’s three U.S. based manufacturing sites.

There were no restructuring expenses recorded in the three and nine months ended September 30, 2025 and September 30, 2024, respectively, in the unaudited condensed consolidated statements of operations. As of September 30, 2025 and December 31, 2024, there was no severance or other employee benefits accrued on the unaudited condensed consolidated balance sheets.

On February 15, 2024, ANI Pharmaceuticals Canada Inc., a wholly owned subsidiary of the Company, entered into an agreement with 1540700 Ontario Limited for the sale of the property for a total purchase price of $19.2 million Canadian Dollars, or approximately $14.2 million, based on the exchange rate at closing. On March 28, 2024 the Company completed the sale of the property. After payment of commissions, real estate taxes, and other related costs of approximately $0.7 million, the Company received a net proceeds of approximately $13.5 million at closing. The gain on the sale of the property was approximately $5.3 million, recorded in the unaudited condensed consolidated statements of operations for the nine months ended September 30, 2024.