ANI Pharmaceuticals Targets $1B+ Sales in 2026, Pivots to Rare Disease Growth at Raymond James Conf.

ANI Pharmaceuticals (NASDAQ:ANIP) executives outlined a maturation strategy centered connected expanding its uncommon illness concern portion utilizing currency flows from its generics conception to money further investment, during a presumption astatine the Raymond James Conference. CEO Nikhil Lalwani and CFO Stephen Carey participated, with Lalwani delivering the prepared remarks.

Lalwani described ANI arsenic a “profitable high-growth biopharmaceutical organization” that is “transforming into a starring uncommon illness company.” He said the institution is projecting much than $1 cardinal successful income successful 2026 and expects the uncommon illness concern to correspond astir 60% of full revenues that year.

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ANI reported 2025 gross of $883 million, representing 44% year-over-year growth, and adjusted non-GAAP EBITDA of $230 million, up 47% year-over-year. Lalwani besides highlighted what helium called a way grounds of maturation from 2022 done the company’s 2026 outlook, citing 36% compound yearly maturation successful gross done 2026 (including 2026 guidance) and 50% adjusted non-GAAP EBITDA maturation implicit that period.

Management provided 2026 guidance calling for gross of $1.055 cardinal to $1.115 billion, representing 19% to 26% growth, and adjusted non-GAAP EBITDA of $275 cardinal to $290 million, representing 20% to 26% growth.

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Lalwani outlined 3 priorities for 2026:

• Accelerate translation into a starring uncommon illness company, led by Cortrophin Gel and efforts to instrumentality ILUVIEN to growth.

• Continue execution successful Generics, including a people cadence of 10 to 15 launches per year.

• Execute disciplined superior allocation, including imaginable inorganic enlargement of the uncommon illness business, concern successful a dedicated gout enactment for Cortrophin, and reinvesting a precocious single-digit percent of generics gross into generics R&D.

ANI’s uncommon illness concern generated $423 cardinal of gross successful 2025, up 84% year-over-year, according to Lalwani. The institution expects uncommon illness gross to turn to $618 cardinal to $658 cardinal successful 2026—an summation of 51%—which would marque it astir 60% of institution revenue.

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The company’s pb uncommon illness asset, Cortrophin Gel, grew from $198 cardinal to $347 cardinal successful 2025, a year-over-year summation of 76%. ANI’s 2026 guidance calls for Cortrophin Gel income of $540 cardinal to $575 million, representing maturation of 55% to 65%.