Replies to post #25369 on BioSante Pharmaceuticals, Inc. (BPAX)

[Just the facts maam]

QyQ, I actually see the opposite happening. ANI's majority shareholders are locked up for 6 months so they won't be able to dump their shares. Management can sell half their shares but that would be counter productive as they actually are better off to get the PPS to raise so that when they do sell they get more. This should get the shorts to start covering.

Under Przybyl, ANI has changed it's business model going after higher profit generating products. It is about to start generating profits at an accelerated rate.

From the S-4

In March 2009, ANI's leadership transitioned from founding management to a new team focused initially on stabilizing the business and then developing and executing a strategy based on ANI's prescription pharmaceutical manufacturing assets and capabilities. To that end, since the first quarter of 2009, ANI's new management team has:

• Consolidated and relocated ANI's corporate offices to its facilities in Minnesota.

• Successfully divested an over-the-counter pharmaceutical manufacturing operation in Gulfport, Mississippi in 2010 for $2.3 million. The net assets of the Gulfport operation had a carrying value of $5.8 million on the date of the sale, resulting in a loss of $3.7 million on disposal of the discontinued operation. The decision to sell the Gulfport operation was based on the historical underperformance and recurring losses at such operation and ANI's change in strategic direction to focus on the prescription pharmaceutical market.

• Implemented cost reductions and early lease terminations yielding $3.0 million in annual savings.

• Retired all third-party long-term debt and capital leases totaling $4.7 million.

• Raised over $13.5 million in capital from existing investors.

• Increased prescription product sales 40-fold through market share gains on established products, a product acquisition and new product launches.

• Generated positive cash flow from operations.

• Developed three new contract manufacturing customer relationships.

• Established an external product development partnership to bolster the internal pipeline.

• Filed three Abbreviated New Drug Applications (ANDAs) and developed a pipeline of eight additional ANDAs.

They have signed co-development agreements with RichonPharma and their susbidiary, Mirror Pharmaceuticals, who have operations in India and the US.

If you look at what Przybyl did for AKORN in turning it around, there are many similarities. I fully expect that if there is a R/S it will be to justify another acquisition which will immediately increase revenues as he did with Akorn.


The fact that in July 2012, they hired Ellen Camos who worked for Sandoz to be their Director of Regulatory Affairs. Tells me they are serious about expanding their product line, revenues and profits. Sandoz is the Generic Division of Novartis.

I can actually see at some point Abbvie acquiring ANI to become a wholly owned subsidiary run by Przybyl as Abbvie's generic division. Seeing that Abbvie lost the generics division in Abbott- Abbvie spin off and the global move, including the US, to increased use of generics, they would be wise to get in on the generic growth trend.