Biopharmaceutical company ANI Pharmaceuticals Inc (Nasdaq:ANIP) said on Tuesday that it has completed the buyout of its 3.125% perpetual royalty obligation to SWK Funding LLC (SWK) on worldwide net revenues from ILUVIEN and YUTIQ.

The one-time payment of USD17.25m eliminates the royalty obligation, effective from 1 January 2025.

The buyout was funded using ANI's cash on hand. This transaction is part of ANI's strategy to strengthen its Retina portfolio and maximise the long-term value of ILUVIEN and YUTIQ.

Nikhil Lalwani, president and CEO of ANI, emphasized that this move enhances the company's financial flexibility and supports its goal of accelerating growth and improving patient outcomes.