Full Press Release Details
ANI Pharmaceuticals Names Nikhil Lalwani
as President and Chief Executive Officer
-Accomplished leader with proven record
of achievement to drive next phase of Company's growth-
BAUDETTE, Minn., August 3, 2020 - ANI Pharmaceuticals,
Inc. ("ANI" or the "Company") (Nasdaq: ANIP) today announced that Nikhil Lalwani has been named the Company's
President and Chief Executive Officer, effective September 8, 2020. Mr. Lalwani will also be elected to the Company's Board
of Directors, effective upon his start date. Mr. Lalwani will succeed Patrick D. Walsh, who will continue to serve as Interim President
and CEO until Mr. Lalwani joins the Company and who will remain as Chairman of the Board.
"We are delighted to welcome Nikhil to ANI Pharmaceuticals.
With his proven ability to create high-growth cultures and deliver
financial results, together with his operational experience in both generics and specialty pharmaceuticals, Nikhil is an ideal
choice to lead our next phase of growth and to achieve our corporate objectives," stated Patrick Walsh, Interim President
and Chief Executive Officer of ANI Pharmaceuticals.
"Nikhil's track record of building strong performance-based
environments and his experience in strategic planning and acquisitions, marketing, P&L optimization, and product development
and commercialization, will complement our senior team as we advance our lead product candidate, Cortrophin Gel,
and pursue additional strategic expansion opportunities," concluded Walsh.
"I am delighted to join ANI Pharmaceuticals at an exciting
time for the business. ANI has an attractive product mix, a robust pipeline of commercial opportunities, including the Cortrophin
Gel opportunity, and expansion potential in North American-based contract manufacturing. I look forward to working with the Board
of Directors and all of the dedicated employees of ANI to realize the full potential of the Company's diverse products and
services, and to ensure access to our cost effective therapeutics for the patients, physicians and payors we serve," said
Mr. Lalwani is a proven executive who brings over 20 years of
pharmaceutical and healthcare industry experience to ANI. Mr. Lalwani recently served as CEO of Cipla USA, a top 10 pharmaceutical
company, and the U.S. subsidiary of Cipla Ltd (NSE: CIPLA), a global pharmaceutical company with a focus on respiratory, anti-retroviral,
oncology, urology, cardiology, anti-infective and CNS segments. Mr. Lalwani held positions of increasing responsibility while at
Cipla, including CEO of InvaGen, Head of US Strategy, M&A & Integration, and Head of Cipla's Global Respiratory business.
In these roles, Mr. Lalwani developed and executed multi-year strategic growth plans for key products and facilitated successful
acquisitions as Cipla entered the specialty pharmaceutical space. Prior to Cipla, Mr. Lalwani was an Associate Partner with McKinsey
& Company serving pharmaceutical and healthcare companies across the world, and an engineer with Medtronic.
Mr. Lalwani earned an MBA from the Wharton School at the University
of Pennsylvania and graduated Summa Cum Laude with a B.S. in Electrical Engineering from the Georgia Institute of Technology in
ANI Pharmaceuticals, Inc. 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. For more information, please visit our website www.anipharmaceuticals.com.
Forward-Looking Statements
To the extent any statements made in this release deal with
information that is not historical, these are forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements include, but are not limited to, those relating to the development and achievement of strategic
and tactical plans initiated by the Company in conjunction with the on-boarding of its newly announced President and Chief Executive
Officer, and other statements that are not historical in nature, particularly those that utilize terminology such as "anticipates,"
"will," "expects," "plans," "potential," "future," "believes,"
"intends," "continue," other words of similar meaning, derivations of such words and the use of future
Uncertainties and risks may cause the Company's actual results
to be materially different than those expressed in or implied by such forward-looking statements. Uncertainties and risks include,
but are not limited to, the risk that the Company may face with respect to implementing its strategic and tactical plans, importing
raw materials; competition from other products; acquisitions; contract manufacturing arrangements; delays or failure in obtaining
product approval from the U.S. Food and Drug Administration; general business and economic conditions; market trends; products
development; regulatory and other approvals and marketing.
More detailed information on these and additional factors that
could affect the Company's actual results are described in the Company's filings with the Securities and Exchange Commission ("SEC"),
including its most recent annual report on Form 10-K and quarterly reports on Form 10-Q, as well as other filings with the SEC.
All forward-looking statements in this news release speak only as of the date of this news release and are based on the Company's
current beliefs, assumptions, and expectations. The Company undertakes no obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.
Lisa M. Wilson, In-Site Communications, Inc.
SOURCE: ANI Pharmaceuticals, Inc.