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Amphastar Pharmaceuticals, Inc. (NASDAQ: AMPH) is a leading specialty bio-pharmaceutical company focused on complex injectable, inhalation, and intranasal products. This page provides investors and industry professionals with a centralized hub for the company’s latest news, including press releases, financial updates, and regulatory developments.
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Eli Lilly (NYSE: LLY) has announced a definitive agreement to sell its glucagon product BAQSIMI to Amphastar Pharmaceuticals (NASDAQ: AMPH) for $500 million at closing and an additional $125 million after one year. This divestiture aims to enhance the accessibility of BAQSIMI, the first nasal glucagon treatment for severe hypoglycemia in diabetes patients. BAQSIMI generated worldwide sales of $139.3 million in 2022, and the deal is expected to close in Q2 or Q3 2023. Both companies' boards have approved the agreement, which includes potential sales-based milestone payments of up to $450 million. Amphastar plans to invest in BAQSIMI to improve treatment access for those on insulin, aligning with its strategic focus on expanding its diabetes portfolio.
Amphastar Pharmaceuticals (NASDAQ:AMPH) announced a business update and a conference call scheduled for April 24, 2023, at 6:00 AM Pacific Time. Interested parties can join the call by calling 877-407-0989 or +1 201-389-0921 for international access. The live call will be available on the Amphastar Investors page, with a replay accessible post-event.
Amphastar focuses on developing, manufacturing, and selling generic and proprietary injectable, inhalation, and intranasal products, primarily for clinical settings. The company also sells insulin API products. The press release includes forward-looking statements regarding financial performance, product development timelines, and market conditions, emphasizing the potential impact of external factors like COVID-19 and geopolitical events on its operations.
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