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ANI Pharmaceuticals, the Baudette-based maker of generic and specialty drugs, announced plans to acquire Novitium Pharma in a $163.5 million deal that should increase its drug-commercialization capabilities. Strengthening our well-established generics business with enhanced development capabilities and increased focus on niche opportunities is a key pillar of ANI s growth strategy, Nikhil Lalwani, ANI s chief executive, said in a statement.
Novitium, based in East Windsor, N.J., makes niche generic products in liquid, capsule, tablet and powder forms. It has a 50,000-square-foot facility for manufacturing and research and is adding 20,000 square feet to it.
Lalwani said the state-of-the-art manufacturing facility is a key attraction in the deal. He also said ANI would be able to add more size to its contract development and manufacturing business.