ANI Pharmaceuticals Inc. (NASDAQ:ANIP) shares surged 9.88% in premarket trading on Friday after the specialty drugmaker reported first-quarter results that exceeded analyst expectations and raised its full-year guidance.
Revenue and earnings outperform expectations
The company posted adjusted earnings per share of $2.05, well above the Wall Street consensus estimate of $1.45 per share.
Quarterly revenue increased 20.5% year-on-year to $237.5 million, beating analyst forecasts of $213.42 million.
ANI said the strong quarter was supported by broad-based growth across its business divisions, with particularly strong performance from its lead product Cortrophin Gel.
Revenue from Cortrophin Gel climbed 42.1% from a year earlier to $75.1 million during the quarter.
Company raises full-year guidance
Following the stronger-than-expected results, ANI increased its fiscal 2026 revenue outlook to a range of $1.08 billion to $1.14 billion.
The midpoint of the updated forecast, $1.11 billion, sits slightly above analyst expectations of $1.09 billion.
The company also lifted its adjusted earnings per share guidance to between $9.19 and $9.69, with the midpoint of $9.44 exceeding the current consensus estimate of $9.07.
Adjusted EBITDA guidance was also increased to a range of $285 million to $300 million, compared with the prior forecast of $275 million to $290 million.
“We delivered a strong first quarter, generating $237.5 million in revenue and $63.0 million in adjusted non-GAAP EBITDA, with solid performance across all business units,” said Nikhil Lalwani, President and CEO.
Rare disease and generics businesses deliver growth
ANI’s Rare Disease segment generated revenue of $94.4 million during the quarter, representing growth of 36.9% compared with the same period last year.
Revenue from ILUVIEN increased 19.5% year-on-year to $19.3 million.
Meanwhile, sales of generic pharmaceutical products rose 6.8% to $105.4 million, supported by new product launches.
Brand royalties and other revenue totalled $21.5 million, including a $15.0 million upfront payment related to a licensing agreement with Harmony Biosciences.
Share buyback programme announced
The company also announced that its board of directors approved a new $100 million share repurchase programme running through May 2029.