ANI Pharmaceuticals acquires two plants from Solvay

ANI Pharmaceuticals on May 7 announced a major expansion of its capabilities with the acquisition from Solvay Pharmaceuticals Inc. of two manufacturing facilities located in Baudette, Minn. The plants add 173,000 square feet of manufacturing and laboratory capacity, substantially expanding ANI's capabilities and enhancing its already rapid growth. The facilities, both of which are fully-cGMP qualified, increase ANI's capacity in pharmaceutical liquid and solid dose production, including products requiring containment. In addition, the state-of-the-art analytical and stability laboratories increase ANI's research and development capabilities nearly three-fold.

Under the terms of the acquisition, ANI will continue to supply products and services to Solvay Pharmaceuticals, and other contract manufacturing customers.

"This transaction represents a defining event for ANI, providing expanded liquid and tablet production capabilities, and a highly experienced team of individuals, which will accelerate ANI's penetration of the Generic Prescription Market," said Tom Anderson, president and chief executive officer, ANI Pharmaceuticals. "We are also excited about the prospects of supporting Solvay Pharmaceuticals' continued growth, and future expansion of this partnership between our two companies."

"The contributions of the people who work in Baudette to Solvay Pharmaceuticals' success can not be overstated," said Laurence Downey, M.D., president and CEO, Solvay Pharmaceuticals. "We look forward to continuing our relationship with this talented group of people as we transition ownership to our new partners at ANI."