ANI Pharmaceuticals offers $560 million for Egetis

ANI Pharmaceuticals (NASDAQ:ANIP) announced a recommended public offer valued at approximately SEK 5.6 billion ($560 million) to acquire Egetis Therapeutics (NASDAQ Stockholm:EGTX), expanding its rare disease drug portfolio.

The offer values Egetis shares at SEK 11.25 each, a 27% premium to their 60-day volume-weighted average price, and also covers outstanding convertible debt and warrants.

Egetis' board unanimously recommended acceptance, while shareholders representing approximately 42% of outstanding shares conditionally agreed to accept the offer.

Completion requires at least 90% shareholder acceptance and necessary regulatory approvals, with funding provided through ANI's cash resources and new JPMorgan Chase Bank debt.

ANI estimates that EMCITATE could generate peak annual sales exceeding $300 million in its approved indication, with patent protection extending into mid-2045.

ANI develops, manufactures and commercializes branded, generic and rare disease medicines, with its rare disease portfolio covering ophthalmology, rheumatology, nephrology, neurology and pulmonology.

Egetis develops treatments for rare diseases, with EMCITATE approved in the United States and Europe for peripheral thyrotoxicosis associated with MCT8 deficiency, also known as Allan-Herndon-Dudley syndrome.

The proposed acquisition would add the treatment and Egetis' clinical development capabilities to ANI's portfolio.