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ANIP vs. AMRX: Which Niche Drugmaker Is the Better Pick?
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Key Takeaways
ANIP is seeing sharp rare-disease growth driven by Cortrophin Gel and steady generics performance.
Cortrophin Gel sales are up 70% YTD and projected to rise 75-78% for 2025, offsetting softness elsewhere.
AMRX benefits from diversified segments, though generics pricing pressure and mixed specialty trends persist.
ANI Pharmaceuticals (ANIP - Free Report) and Amneal Pharmaceuticals (AMRX - Free Report) are both generic drugmakers, but their overall business models differ.
ANIP’s operations are split between rare disease therapies and generics, with specialty growth led by Cortrophin Gel. On the other hand, AMRX runs a broader three-segment structure, giving it a mix of generics scale, specialty products and government-channel distribution.
But which one makes for a better investment pick today? Let's examine the fundamentals of the two stocks to make a prudent choice.
The Case for ANIP
ANI Pharmaceuticals has demonstrated a solid financial performance so far this year, driven by steady growth across its rare disease and generics portfolios.
Though sales are divided equally between the two segments, ANIP’s rare disease business clearly stands out as the primary driver of momentum. In the first nine months of 2025, sales from this segment have more than doubled compared with the year-ago period. Much of this strength comes from the ACTH-based injection Cortrophin Gel, which has become the centerpiece of the company’s specialty strategy. So far this year, the drug has added $236 million to the company’s top line — up 70% year over year — supported by broader adoption across neurology, rheumatology, nephrology and ophthalmology.
This momentum in Cortrophin Gel is likely to continue, supported by new clinical studies (including a phase IV study in acute gouty arthritis) and ongoing efforts to deepen specialty penetration. For the full year 2025, ANI Pharmaceuticals expects this product’s sales to be between $347 million and $352 million, reflecting a 75-78% increase over the prior year.
The growth in Cortrophin Gel sales also helps offset the softness in the ophthalmology products Iluvien and Yutiq, which have been facing reimbursement and access challenges. While near-term expectations for these therapies have been lowered, ANIP is taking steps to expand coverage, strengthen its field force and tap into a much larger eligible patient population. Driven by these factors, ANI Pharmaceuticals expects a rebound in sales growth for both drugs in 2026.
ANIP’s generics business also remains an important pillar of stability, driven by higher base-business volumes and contributions from new product launches. However, with new entrants expected to enter the market in Q4, generics sales growth is likely to slow down in the coming quarters.
Competitive pressure is also building within the rare disease segment. The primary competitor to Cortrophin Gel is Acthar Gel, which is marketed by Keenova Therapeutics (formerly Mallinckrodt Pharmaceuticals). Like ANIP, Keenova has also been experiencing strong demand for Acthar Gel, recently raising its full-year 2025 sales growth outlook for Acthar Gel to 30-35%, up from the prior 20-30% range. This suggests that the competitive environment for ACTH-based therapies is intensifying.
The Case for AMRX
Amneal Pharmaceuticals generates revenues from three primary businesses: Affordable Medicines, Specialty and AvKARE. This diversified structure gives the company a balanced mix of generics-led scale, specialty-driven margin potential and government-channel distribution stability. The company projects to close 2025 with revenues between $3.0 billion and $3.1 billion, implying year-over-year growth of 7.5-11%.
Affordable Medicines — which includes retail generics, institutional products, injectables, biosimilars and international sales — remains the largest contributor. The segment continues to benefit from a broad portfolio across complex generics and injectable products, supported by ongoing launches and steady demand across key therapeutic categories. While generics remain a competitive space, Amneal’s scale and manufacturing footprint have helped sustain growth so far this year.
The Specialty segment provides a higher-value layer to the company’s revenue mix, anchored by central nervous system and endocrine therapies. While momentum from products like Crexont (for Parkinson’s disease) and Unithroid (for hypothyroidism) is driving this segment, we expect new products, like the recently launched Brekiya (for migraine), to further boost sales in the coming quarters.
AvKARE segment adds another dimension to Amneal’s business, serving the U.S. federal government, institutional buyers and the retail market through distribution agreements and government-label programs.
However, despite its diversified model, Amneal faces several headwinds. Pricing pressure in the generics market remains persistent, owing to intense competition and increased payer leverage as more biosimilars and competing generics enter the market. Sales of the Specialty segment have been negatively impacted by the falling sales of Rytarvy (for Parkinson’s disease), which lost exclusivity earlier this year. AvKARE is sensitive to procurement cycles and shifts in government contracting dynamics, which can introduce variability in its contribution.
How Do Estimates Compare for ANIP & AMRX?
The Zacks Consensus Estimate for ANIP’s 2025 sales implies year-over-year growth of nearly 42% while EPS estimates are expected to rise by 45%. Bottom-line estimates for both 2025 and 2026 have increased over the past 30 days.
Image Source: Zacks Investment Research
AMRX’s 2025 sales are expected to rise 8% year over year, while the bottom-line estimates are expected to increase by over 36%. EPS estimates for 2025 and 2026 have risen over the past 30 days.
Image Source: Zacks Investment Research
Price Performance and Valuation of ANIP & AMRX
Year to date, shares of ANIP have surged 53%, while those of AMRX have soared 58%. In comparison, the industry has risen 20%, as seen in the chart below.
Image Source: Zacks Investment Research
From a valuation standpoint, Amneal Pharmaceuticals seems to be more expensive than ANI Pharmaceuticals, going by the price/earnings (P/E) ratio. ANIP’s shares currently trade at 12.67 times forward 12-month earnings, lower than 14.77 for AMRX.
Image Source: Zacks Investment Research
ANIP or AMRX: Which Is a Better Pick?
While both companies remain financially robust with diversified operations, the sales momentum in ANI Pharmaceuticals’ business gives it an edge over Amneal Pharmaceuticals. This top-line strength is also translating into faster earnings growth compared with AMRX, which continues to face margin pressures across its generics and AvKARE businesses.
ANIP also trades at a more attractive valuation relative to AMRX, offering additional room for upside given its solid fundamentals and positive stock-price trajectory.
Also, ANI Pharmaceuticals sports a Zacks Rank #1 (Strong Buy) while Amneal Pharmaceuticals carries a Zacks Rank #3 (Hold). This further reinforces ANIP’s more favorable standing in the current investment landscape.
Image: Bigstock
ANIP vs. AMRX: Which Niche Drugmaker Is the Better Pick?
Key Takeaways
ANI Pharmaceuticals (ANIP - Free Report) and Amneal Pharmaceuticals (AMRX - Free Report) are both generic drugmakers, but their overall business models differ.
ANIP’s operations are split between rare disease therapies and generics, with specialty growth led by Cortrophin Gel. On the other hand, AMRX runs a broader three-segment structure, giving it a mix of generics scale, specialty products and government-channel distribution.
But which one makes for a better investment pick today? Let's examine the fundamentals of the two stocks to make a prudent choice.
The Case for ANIP
ANI Pharmaceuticals has demonstrated a solid financial performance so far this year, driven by steady growth across its rare disease and generics portfolios.
Though sales are divided equally between the two segments, ANIP’s rare disease business clearly stands out as the primary driver of momentum. In the first nine months of 2025, sales from this segment have more than doubled compared with the year-ago period. Much of this strength comes from the ACTH-based injection Cortrophin Gel, which has become the centerpiece of the company’s specialty strategy. So far this year, the drug has added $236 million to the company’s top line — up 70% year over year — supported by broader adoption across neurology, rheumatology, nephrology and ophthalmology.
This momentum in Cortrophin Gel is likely to continue, supported by new clinical studies (including a phase IV study in acute gouty arthritis) and ongoing efforts to deepen specialty penetration. For the full year 2025, ANI Pharmaceuticals expects this product’s sales to be between $347 million and $352 million, reflecting a 75-78% increase over the prior year.
The growth in Cortrophin Gel sales also helps offset the softness in the ophthalmology products Iluvien and Yutiq, which have been facing reimbursement and access challenges. While near-term expectations for these therapies have been lowered, ANIP is taking steps to expand coverage, strengthen its field force and tap into a much larger eligible patient population. Driven by these factors, ANI Pharmaceuticals expects a rebound in sales growth for both drugs in 2026.
ANIP’s generics business also remains an important pillar of stability, driven by higher base-business volumes and contributions from new product launches. However, with new entrants expected to enter the market in Q4, generics sales growth is likely to slow down in the coming quarters.
Competitive pressure is also building within the rare disease segment. The primary competitor to Cortrophin Gel is Acthar Gel, which is marketed by Keenova Therapeutics (formerly Mallinckrodt Pharmaceuticals). Like ANIP, Keenova has also been experiencing strong demand for Acthar Gel, recently raising its full-year 2025 sales growth outlook for Acthar Gel to 30-35%, up from the prior 20-30% range. This suggests that the competitive environment for ACTH-based therapies is intensifying.
The Case for AMRX
Amneal Pharmaceuticals generates revenues from three primary businesses: Affordable Medicines, Specialty and AvKARE. This diversified structure gives the company a balanced mix of generics-led scale, specialty-driven margin potential and government-channel distribution stability. The company projects to close 2025 with revenues between $3.0 billion and $3.1 billion, implying year-over-year growth of 7.5-11%.
Affordable Medicines — which includes retail generics, institutional products, injectables, biosimilars and international sales — remains the largest contributor. The segment continues to benefit from a broad portfolio across complex generics and injectable products, supported by ongoing launches and steady demand across key therapeutic categories. While generics remain a competitive space, Amneal’s scale and manufacturing footprint have helped sustain growth so far this year.
The Specialty segment provides a higher-value layer to the company’s revenue mix, anchored by central nervous system and endocrine therapies. While momentum from products like Crexont (for Parkinson’s disease) and Unithroid (for hypothyroidism) is driving this segment, we expect new products, like the recently launched Brekiya (for migraine), to further boost sales in the coming quarters.
AvKARE segment adds another dimension to Amneal’s business, serving the U.S. federal government, institutional buyers and the retail market through distribution agreements and government-label programs.
However, despite its diversified model, Amneal faces several headwinds. Pricing pressure in the generics market remains persistent, owing to intense competition and increased payer leverage as more biosimilars and competing generics enter the market. Sales of the Specialty segment have been negatively impacted by the falling sales of Rytarvy (for Parkinson’s disease), which lost exclusivity earlier this year. AvKARE is sensitive to procurement cycles and shifts in government contracting dynamics, which can introduce variability in its contribution.
How Do Estimates Compare for ANIP & AMRX?
The Zacks Consensus Estimate for ANIP’s 2025 sales implies year-over-year growth of nearly 42% while EPS estimates are expected to rise by 45%. Bottom-line estimates for both 2025 and 2026 have increased over the past 30 days.
Image Source: Zacks Investment Research
AMRX’s 2025 sales are expected to rise 8% year over year, while the bottom-line estimates are expected to increase by over 36%. EPS estimates for 2025 and 2026 have risen over the past 30 days.
Image Source: Zacks Investment Research
Price Performance and Valuation of ANIP & AMRX
Year to date, shares of ANIP have surged 53%, while those of AMRX have soared 58%. In comparison, the industry has risen 20%, as seen in the chart below.
Image Source: Zacks Investment Research
From a valuation standpoint, Amneal Pharmaceuticals seems to be more expensive than ANI Pharmaceuticals, going by the price/earnings (P/E) ratio. ANIP’s shares currently trade at 12.67 times forward 12-month earnings, lower than 14.77 for AMRX.
Image Source: Zacks Investment Research
ANIP or AMRX: Which Is a Better Pick?
While both companies remain financially robust with diversified operations, the sales momentum in ANI Pharmaceuticals’ business gives it an edge over Amneal Pharmaceuticals. This top-line strength is also translating into faster earnings growth compared with AMRX, which continues to face margin pressures across its generics and AvKARE businesses.
ANIP also trades at a more attractive valuation relative to AMRX, offering additional room for upside given its solid fundamentals and positive stock-price trajectory.
Also, ANI Pharmaceuticals sports a Zacks Rank #1 (Strong Buy) while Amneal Pharmaceuticals carries a Zacks Rank #3 (Hold). This further reinforces ANIP’s more favorable standing in the current investment landscape.
You can see the complete list of today’s Zacks #1 Rank stocks here.