ANI Pharmaceuticals (ANIP)

[Just the facts maam]

Silvr, according to the Schedule 14A, it looks like Novitium was the largest customer for both Scitus and Nuray, both of which Samy owns a minority interest.

Novitium receives vendor services from two related parties, Scitus Pharma Services Private Limited (“Scitus”) and Nuray Chemicals Private Limited (“Nuray”), both based in Chennai, India. Samy Shanmugam, one of Novitium’s founders, who will be an executive officer of the Company after the consummation of the transaction, owns a minority interest in each of Scitus and Nuray. Scitus is a contract research organization that conducts bioanalytical services to Novitium for both pilot and pivotal bioequivalence studies. Novitium is currently Scitus’ primary customer and has paid an aggregate of approximately $2.4 million to Scitus since January 1, 2020. Nuray is an active pharmaceutical ingredient (“API”) manufacturer that produces development and commercial supply of high-value and difficult-to-formulate APIs. Novitium is Nuray’s largest customer and has paid an aggregate of approximately $2.7 million to Nuray since January 1, 2020. In addition, Novitium has made an aggregate of approximately $0.4 million in lease payments to SCV Real Estate LLC since January 1, 2020 in respect of the lease of the facility located at 70 Lake Drive, East Windsor, NJ 08520. Prior to the closing of the sale of Novitium to the Company, ownership of this facility will be transferred to Novitium or a subsidiary thereof pursuant to the terms of the Merger Agreement for a purchase price of $3.5 million, and the Company will own this facility as a part of its purchase of Novitium.

Schedule 14A