Amneal Pharmaceuticals Inc Stock Price, News & Analysis

Amneal Pharmaceuticals (NYSE: AMRX) has entered a long-term licensing agreement with Orion Corporation to commercialize complex generic products in Europe, Australia, and New Zealand. This collaboration marks a significant step in Amneal's strategic priority for international expansion. The initial portfolio will consist of existing generic products available in the U.S. and selected pipeline products, with registrations starting in 2023. Financial terms of the deal were not disclosed, but both companies express optimism about the partnership's potential in the second-largest pharmaceutical market.

Amneal Pharmaceuticals (NYSE: AMRX) reported a successful year in 2022, launching 26 new generic products, with 8 in Q4 alone, including clindamycin phosphate gel and ipratropium bromide nasal sprays. The company received FDA approval for its first large volume bag product, esmolol hydrochloride in sodium chloride injection, expected to generate annual sales of $57 million. For 2023, Amneal anticipates over 30 new product launches, signaling ongoing innovation and growth in its injectables business.

Amneal Pharmaceuticals, Inc. (NYSE: AMRX) announced its participation in two upcoming investor conferences. The Piper Sandler 34th Annual Healthcare Conference will be held on December 1, 2022 in New York, while the 41st Annual J.P. Morgan Healthcare Conference is scheduled for January 10, 2023 in San Francisco, with a presentation at 2:15 PM PT. A live webcast of the J.P. Morgan presentation will be available on the company's website, with a replay accessible for 90 days.

Amneal is a fully integrated essential medicines company based in Bridgewater, NJ, focusing on generic and specialty pharmaceuticals.

Amneal Pharmaceuticals (NYSE: AMRX) has launched its second U.S. oncology biosimilar, RELEUKO® (filgrastim-ayow), designed to treat neutropenia in chemotherapy patients. Developed with Kashiv Biosciences, RELEUKO® aims to enhance patient access to essential cancer treatment. According to IQVIA®, annual sales for filgrastim reached $390 million in the U.S. as of August 2022, with biosimilar sales at $272 million.

The launch is a pivotal step in expanding Amneal's biosimilars business.

Amneal Pharmaceuticals has announced the FDA's acceptance of the New Drug Application for IPX203, a novel oral formulation aimed at treating Parkinson's disease. This extended-release treatment promises longer symptom control with fewer doses compared to immediate-release formulations. The FDA has set a PDUFA date of June 30, 2023 for review. The RISE-PD trial demonstrated that IPX203 provides significantly more 'Good On' time and less 'Off' time while being less frequently dosed. The trial included 506 patients across several countries, further supporting product efficacy.

Amneal Pharmaceuticals (AMRX) reported Q3 2022 net revenue of $546 million, a 3.2% increase from $529 million in Q3 2021. The company faced a net loss of $3 million, an improvement from a $4 million loss a year earlier. Adjusted EBITDA fell 5.1% to $126 million. Diluted loss per share was $(0.02) compared to $(0.03) the previous year, while adjusted diluted EPS stood at $0.14. The company is maintaining its full-year guidance, targeting net revenue of $2.15 billion - $2.25 billion.

Amneal Pharmaceuticals (NYSE: AMRX) has received FDA approval for leuprolide acetate injection, indicated for the palliative treatment of advanced prostatic cancer. The product is expected to contribute to the growth of Amneal's injectables business, which has plans to launch eight new injectables in 2022. According to IQVIA, the annual sales for this product were $81 million for the 12 months ending September 2022, presenting a promising market potential.

Amneal Pharmaceuticals (NYSE: AMRX) has appointed Reem Malki as Senior Vice President, Chief Quality Officer, and Maryll W. Toufanian as Senior Vice President, Regulatory Strategy and Policy. Malki brings over 30 years of experience from Alvotech and Mylan, focusing on quality operations in biosimilars. Toufanian, an FDA veteran, previously directed the Office of Generic Drug Policy. These leadership appointments aim to enhance Amneal's capabilities in biosimilars, complex generics, injectables, and specialty areas, signaling a strategic expansion in high-growth sectors.

Amneal Pharmaceuticals, Inc. (NYSE: AMRX) will release its third quarter 2022 financial results on November 4, 2022, before market open. A conference call and live webcast for investors will follow at 8:30 a.m. Eastern Time. Access to the financial results and the live webcast is available on the Investor Relations section of the website. Callers can join by dialing 1 (844) 200-6205 or 1 (929) 526-1599 for international access, using access code 585341.

A replay will be available shortly after the call.