ANI Pharmaceuticals (ANIP)

[Just the facts maam]

According to earnings call, "from a quarterly cadence perspective, we expect second quarter Cortrophin Gel revenues to represent approximately 21% to 23% of total 2026 Cortrophin revenues."

Q1 in $75.1 Million
Q2 - using 23% = $132. 25 million

Since ANIP is always conservative with their estimates I will use the $575 million Corti Guidance for 2026 and the 23% total Corti revenue for Q2.

That means $367.65 million for Q3 and Q4.

ANIP expect higher sales in Q4 as the gouty arthritis team gains momentum. I see $167.65 million in Q3 and $200 million in Q4.

Conservatively using the $200 million as their run rate for 2027, ANIP is looking at $800 million in Corti sales for 2027. Combined with Iluvien, rare disease will approach $900 million in revenue for 2027.