ANI Pharmaceuticals reported quarterly revenue of $130 million, up 25% year-over-year, fueled by a 40% increase in Cortrophin Gel sales. The injectable gel for multiple sclerosis and infantile spasms accounted for roughly 30% of total revenue, underscoring the company’s strength in orphan and specialty markets. Management highlighted market share gains in the U.S. hospital channel and expanded distribution agreements with three national specialty pharmacies.

The company issued full-year revenue guidance of $560 million to $600 million, representing growth of 15% to 21% over 2025 sales. Adjusted EPS is projected in a range of $3.50 to $3.75, compared with analysts’ consensus of $3.25. The updated outlook reflects the ongoing ramp of newly launched generics and continued momentum in the rare disease portfolio, with operating margin expansion expected as fixed costs are leveraged across higher sales volumes.

Shares increased 7% over the past week following the guidance update and strong quarterly results. The stock now trades at approximately 18 times forward earnings, below the five-year average of 20 times, while offering a return on invested capital of roughly 12%. Investors have cited the company’s clinical development pipeline—including a Phase III candidate for a neuromuscular disorder—as a potential catalyst for further revaluation.

ANI Pharmaceuticals has six active clinical programs, with three orphan drug candidates targeting endocrine and neurological indications. The company ended the quarter with $85 million in cash and equivalents, providing capacity for bolt-on acquisitions. Management reiterated its strategy to pursue licensing deals for late-stage assets and highlighted ongoing due diligence on two privately held rare disease firms that could close by mid-year.