ANI Pharmaceuticals (ANIP)

[Just the facts maam]

Acthar sales dropped from $140.9 million in 2022 Q4 to $82 million in 2023 Q1.

From Mallinckrodt's Earnings CC

Diving into our performance across our business segments during the quarter, beginning with Specialty Brands, I’ll start with Acthar. We were disappointed with this product’s net sales performance in the quarter, which was driven primarily by continued scrutiny on overall specialty pharmaceutical spending and the entrance of a new competition in 2022. Softness in the quarter also came from a slower than expected returning patient volumes, driven primarily by affordability. Notwithstanding, Acthar remains a critical product in Mallinckrodt’s portfolio and future, both for its high clinical value to patients and favorable position with prescribers.

We expect these pressures will continue to have an impact on Acthar’s performance throughout 2023. That said, we will continue to work closely with prescribers and payers to expand appropriate patient access as well as address affordability with payers. We remain confident in Acthar’s long-term prospects, and we’ll also continue to drive the submission of the Acthar next-generation delivery device, pending resolution of third-parties regulatory matters we have previously mentioned.

I expect a good increase in Corti sales for Q2.