ANI Pharmaceuticals (ANIP)

[LordDarley]

This is actually getting to be ridiculous. The company has a solid business. (And thank goodness the Ignore button works; who needs sour grumpiness from Mr. Crankypants?)

I've said this before, but the real overhang is Corti, in spite of the AP drama. Even if it succeeds with the FDA there is the overhang of Acthar competition.

I've read the MNK 10Q CMS litigation summaries, and have a pretty good handle on how this will be addressed, assuming that the judge does not reverse himself as he has been asked to do. MNK is not going to wait years to resolve an appeal. They will settle the $600M judgment with CMS, and the additional state Medicaid suits (all based on Acthar pricing) with free/bargain-priced Acthar instead of cash.

That's the overhang for Corti. Everyone has been assuming that ANIP would pick up the government business with low pricing. Instead, they will be competing with free Acthar, a proven product.

MNK is no bargain, even at $3/share, and it could go out of business, but someone will acquire Acthar if MNK stumbles. Corti can still be very positive for ANIP. Nonetheless, this MNK fight with CMS is whiplashing back against ANIP for anyone actually thinking about this.

For me, ANIP's prospects are good, at $30/share, but not the stuff that dreams are made of, which is disappointing for all of us who dreamed along with Arthur P. I'm along for the ANIP ride with my calls, but am on the fence about whether to buy back the stock I fortunately sold.