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ANI Pharmaceuticals Expands Generic Drug Development Agreement With Sterling Pharmaceuticals

BAUDETTE, Minn., March 10, 2014 /PRNewswire/ -- ANI Pharmaceuticals, (NASDAQ: ANIP), an emerging generic pharmaceutical company, today announced that it has entered into a fee for service product development agreement for an undisclosed generic drug product with Sterling Pharmaceutical Services ("Sterling").  The product will be developed by Sterling and transferred into ANI for commercial manufacture and marketing. 

Arthur S. Przybyl, ANI's President and CEO stated, "We are pleased to expand our partnership with Sterling through the addition of this second generic product development project.  We hope to add additional projects in the future and are fortunate to have such a high quality partner in Sterling."

Robert Flynn, President of Sterling Pharmaceutical Services stated, "Sterling welcomes the opportunity to expand upon the existing relationship with ANI. Sterling looks forward to more opportunities to work together with ANI in the future."

About ANI

ANI Pharmaceuticals, Inc. ("ANI" or "the Company") is an integrated specialty pharmaceutical company developing, manufacturing, and marketing branded and generic prescription pharmaceuticals. The Company's targeted areas of product development currently include narcotics, oncolytics (anti-cancers), hormones and steroids, and complex formulations involving extended release and combination products. ANI has its own research and development team, manufacturing facilities, and sales and regulatory compliance personnel. For more information, please visit ANI's website www.anipharmaceuticals.com.

About Sterling

Sterling Pharmaceutical Services is a development and manufacturing company which has been serving the industry for over 8 years, specializing in solid and liquid oral delivery systems. With a combined 100+ years of industry expertise, Sterling Pharmaceutical Services specializes in formulation development, technology transfer, scale-up, and commercial manufacturing. Sterling's facilities are equipped to handle tablets, capsules, liquids and aseptic filling with applications in immediate release, modified release, as well as extended release drug therapies.

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