ANI Pharmaceuticals 2025 Q3 Earnings Record Net Income Surges 210% on 53.6% Revenue Growth, Guidance Raised

ANI Pharmaceuticals (ANIP) delivered a strong performance in Q3 2025, with revenue surging 53.6% to $227.81 million and non-GAAP EPS of $2.04, both exceeding estimates. The company raised full-year revenue guidance to $854–$873 million and adjusted EBITDA to $221–$228 million, reflecting robust growth in rare disease and generics segments.

Revenue

Generics and Other led with $98.69 million, while Rare Disease and Brands contributed $129.13 million, totaling $227.81 million in total revenue. The rare disease segment, particularly Cortrophin Gel, drove a 93.8% year-over-year increase, underscoring the division’s strategic importance. Generics growth remained steady at low 20% year-over-year.

Earnings/Net Income

The company returned to profitability with a 210.1% net income surge and a 193.7% EPS turnaround, showcasing a robust financial recovery.

Post-Earnings Price Action Review

The strategy of buying ANI shares after its revenue raise and holding for 30 days demonstrated strong performance over the past three years, delivering an average annualized gain of 35.2%—surpassing the NASDAQ Composite’s 20% return. With a maximum drawdown of 10.5% versus the market’s 15%, the strategy exhibited lower volatility. Consistent positive returns, marked by only one quarterly decline of 2.3%, reinforced its effectiveness. This disciplined approach, capitalizing on ANI’s earnings momentum, highlights its potential for sustained growth.

CEO Commentary

Nikhil Lalwani emphasized rare disease as a “virtuous cycle” of growth, with Cortrophin Gel’s market expansion and ILUVIEN’s label transition as key drivers. He highlighted 2026 optimism, citing untapped ILUVIEN potential and a strengthened ophthalmology team.

Guidance

ANI raised 2025 full-year revenue to $854–$873 million (39%–42% YoY growth), with Cortrophin Gel projected to deliver $347–$352 million (75%–78% YoY growth). Adjusted EBITDA guidance increased to $221–$228 million (42%–46% YoY growth).

Additional News

ANI Pharmaceuticals announced a strategic focus on rare disease expansion, including clinical evidence generation and prefilled syringe adoption for Cortrophin Gel. The company also plans to address ILUVIEN’s market access challenges through Medicare Part D pathways. Analysts upgraded the stock to “Strong Buy,” with a median 12-month price target 12% above the current share price. Additionally, ANI’s shares gained 63.2% year-to-date, outperforming the S&P 500’s 14.3% gain.

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ANI’s rare disease segment now accounts for 50% of total revenue, driven by Cortrophin Gel’s 93.8% YoY growth. The company’s strategic investments in high-ROI commercial initiatives, including sales force expansion and product innovation, position it for long-term value creation. With a disciplined approach to capital allocation and a focus on underpenetrated patient populations, ANI is poised to capitalize on its rare disease and generics platforms.