AI-extracted from the 10-Q filed 2026-08-07 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
ANI Pharmaceuticals grew Q2 FY2026 net revenue 25.9% YoY to $266.0M, led by 43.5% growth in Cortrophin Gel and new Harmony Agreement royalties, driving operating income up to $40.5M from $13.9M a year ago.
Biggest Revenue Drivers
Rare Disease and Brands$165.4M+41.2% YoY
Driven by Cortrophin Gel volume growth and new Brand royalties/milestones under the Harmony Agreement
Generics and Other$100.7M+6.8% YoY
Driven by a partnered product launched in Q3 2025 and new generic product launches in 2026
Biggest Revenue Drivers
Total revenue: $266.0M+25.9% YoY
Rare Disease and Brands$165.4M+41.2% YoY
Driven by Cortrophin Gel volume growth and new Brand royalties/milestones under the Harmony Agreement
Within Rare Disease and Brands
Cortrophin Gel$117.1M+43.5% YoY
Increased volume from overall ACTH market growth and market share gains
ILUVIEN and YUTIQ$18.7M-16.1% YoY
No YUTIQ sales as the company transitioned U.S. promotion to ILUVIEN
Generics and Other$100.7M+6.8% YoY
Driven by a partnered product launched in Q3 2025 and new generic product launches in 2026
Largest Expense Items
Cost of sales (excl. D&A)$100.2M+34.2% YoY
Significant growth in sales volumes and growth of royalty-bearing products including Cortrophin Gel
Selling, general, and administrative$91.7M+12.1% YoY
Increased investment in Rare Disease sales and marketing infrastructure targeting acute gouty arthritis, tempered by lower legal costs
Depreciation and amortization$19.6M-15.6% YoY
Certain definite-lived intangibles became fully amortized during 2025
Research and development$14.7M-10.8% YoY
Timing of activity associated with ongoing and new projects supporting Rare Disease and Generics growth
Margins: Cost of sales rose to 37.6% of revenue from 35.3% YoY due to product mix shift toward royalty-bearing products, but operating margin still expanded to 15.2% from 6.6% as SG&A and D&A grew slower than revenue.
Watch Items from the Filing
Four customers each represented 10%+ of Q2 net revenues (24%, 14%, 12%, 9%), and three customers accounted for 56% of accounts receivable at June 30, 2026.
In the CG Oncology royalty litigation, a jury awarded ANI no damages and the court denied ANI's motions for a new trial in July 2026; ANI intends to appeal to the Delaware Supreme Court.
Novitium faces multiple new 2026 ANDA patent infringement suits (Harmony/AET-Sandoz, Orphalan, and Xeris/Strongbridge levoketoconazole litigation) that could affect generic product launches.
Approximately 23% of raw material inventory purchases in the period came from a single domestic supplier, concentrating supply risk.
Four unapproved products (EEMT, Opium Tincture, Thyroid Tablets, Hyoscyamine) generated $5.7 million of Q2 revenue despite lacking FDA-approved NDAs/ANDAs.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About ANI PHARMACEUTICALS INC (ANIP): stock profile, AI score and financials
ANI PHARMACEUTICALS INC (ANIP) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores ANIP at 72.5/100 on a composite quality score built from its SEC filings, placing it at rank #150 of 2,925 stocks — the top 10% of the AI-ranked universe. ANIP scores in the top quartile across revenue growth (90.1), earnings quality (79.9), balance sheet strength (79.3). Shareholder dilution risk is elevated at 26.3/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), ANI PHARMACEUTICALS INC reports quarterly revenue of $266.0M, net income of $24.7M, an operating margin of 15.2%. Top institutional holders of ANIP by reported 13-F value include BlackRock, Soleus Capital Management, L.P., VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. ANIP trades on the Nasdaq exchange and files with the SEC under CIK 1023024. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate ANIP daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for ANI PHARMACEUTICALS INC directly from SEC EDGAR.