ANI Pharmaceuticals Inc Common Stock (NASDAQ:ANIP) stock fell 9.53% (As on Mar 16, 12:24:10 AM UTC-4, Source: Google Finance) after the company reporting its fourth-quarter and full-year earnings that saw earnings per share fail to beat analyst estimates. Net revenues for generic pharmaceutical products were $41.6 million during the three months ended December 31, 2021, an increase of 8% compared to $38.7 million for the same period in 2020. Net revenues for branded pharmaceutical products were $14.7 million during the three months ended December 31, 2021, a decrease of 7% compared to $15.8 million for the same period in 2020. Contract manufacturing revenues were $2.8 million during the three months ended December 31, 2021, an increase of 26% compared to $2.2 million for the same period in 2020, partially due to Novitium-related CDMO gains.

ANIP in the fourth quarter of FY 21 has reported the adjusted earnings per share of 54 cents, missing the analysts’ estimates for the adjusted earnings per share of 75 cents. The company had reported the adjusted revenue growth of 6 percent to $60.93 million in the fourth quarter of FY 21, beating the analysts’ estimates for revenue of $56.3 million.

Meanwhile, in November, the company had completed the acquisition of Novitium Pharma, bringing a high-performance R&D engine to ANI. The R&D engine continues to deliver with 8 new product launches since deal closure and 5 new ANDA filings already in 2022. Today, ANI has over 30 ANDA files pending with the FDA and over 25 applications and multiple 505(b)(2) products under development. Recently, ANI has received CGT designation and the associated most recently, ANI received CGT designation and the associated 180 days of exclusivity for the launch of betaine anhydrous solution in addition to receiving approval of the first 505(b)(2) product. The company’s growth strategy is to expand the CDMO business, leveraging the North America manufacturing footprint and certain unique manufacturing capabilities. Several of our customers here are facing the pricing headwinds from increased competition. The company continues to explore opportunities with the addition of the Novitium site in New Jersey and new customers that Novitium serve bring.

Furthermore, ANI’s new capital structure comprised of the recently completed $75 million equity raise and the closure of the new $300 million Term Loan B, $40 million revolver and $25 million pipe gives the company significant flexibility in ensuring a strong Purified Cortrophin Gel commercial launch, supporting the integration of Novitium into ANI and propel the next phase of growth for ANI.