SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2019

SUBSEQUENT EVENTS

Subsequent Events

14. SUBSEQUENT EVENTS

On January 8, 2020 we acquired the U.S. portfolio of 23 generic products from Amerigen Pharmaceuticals, Ltd. for $52.5 million in cash at close and up to $25.0 million in contingent profit share payments over the next four years. The contingent payments will be earned when annual gross profit exceeds a minimum threshold and will be earned on a subset of the acquired products. The acquired portfolio includes ten commercial products, three approved products with launches pending, four filed products, and four in-development products as well as a license to commercialize two approved products. We also made a $4.0 million cash payment to Amerigen to acquire certain commercial and development inventory and materials.  The transaction was funded from cash on hand.

On January 17, 2020, ANI Pharmaceuticals, Inc. (the “Company”) entered into employment agreements with its (i)

President and Chief Executive Officer, Arthur S. Przybyl, (ii) Vice President of Finance and Chief Financial Officer, Stephen P. Carey, (iii) Senior Vice President of Business Development and Specialty Sales, Robert Schrepfer and (iv) Senior Vice President of Operations and Product Development, James G. Marken.