ANI Pharmaceuticals' Q2 2025: Unpacking Contradictions in Cortrophin Growth and Market Dynamics

Cortrophin growth and market expansion, prefilled syringe impact on market growth, ACTH market potential, and growth drivers for Cortrophin are the key contradictions discussed in ANI Pharmaceuticals' latest 2025Q2 earnings call.



Record Financial Performance:
- ANI Pharmaceuticals, Inc. reported total net revenues of $211.4 million in Q2 2025, representing year-over-year growth of 53% and 37% on an organic basis.
- The growth was driven by strong performance in both Rare Disease and Generics business units.

Cortrophin Gel Growth:
- Cortrophin Gel revenues rose to $81.6 million, up 66% year-over-year and 54% from the first quarter of 2025.
- This was due to a significant increase in cases initiated and new patient starts, particularly in areas like neurology and rheumatology.

ILUVIEN and YUTIQ Performance:
- Revenues from ILUVIEN and YUTIQ were $22.3 million, consistent with expectations.
- Key initiatives included adding chronic NIU-PS to ILUVIEN's label and transitioning promotional efforts to ILUVIEN.

Generics Business Strength:
- The Generics segment achieved revenues of $90.3 million, an increase of 22% over the prior year.
- Growth was driven by strong execution in the base business and contributions from new product launches, such as prucalopride tablets with 180-day exclusivity.