Amneal Pharmaceuticals Inc Stock Price, News & Analysis

Amneal Pharmaceuticals (NYSE: AMRX) has completed the acquisition of a 98% interest in Kashiv Specialty Pharmaceuticals, enhancing its portfolio in complex generics and innovative drug delivery platforms. This move strengthens Amneal's R&D capabilities by integrating Kashiv's experienced team known for successful products like Yuvafem and EluRyng. The acquisition aligns with Amneal's strategy to evolve into a more integrated pharmaceutical company.

Amneal Pharmaceuticals (NYSE: AMRX) reported strong financial results for Q4 and full year 2020, with Q4 revenue at $510 million, a 28% increase year-over-year. The annual revenue reached $1.993 billion, up 23%. The company's net loss for Q4 improved to $3 million from $32 million in 2019, while net income for the year was $91 million compared to a loss of $362 million in 2019. Looking ahead, Amneal forecasts 2021 revenues between $2.1 billion and $2.2 billion and adjusted diluted EPS of $0.70 to $0.85, reflecting continued growth in the Generics and Specialty markets.

Amneal Pharmaceuticals (NYSE: AMRX) announced its participation in two upcoming investor conferences: the Raymond James Institutional Investors Conference on March 1, 2021, at 3:00 p.m. ET, and the Barclays Global Healthcare Conference on March 10, 2021, at 4:10 p.m. ET. Both events will include fireside chats and can be accessed via a live webcast on the Company's Investor Relations website. Amneal focuses on developing and distributing generic and specialty pharmaceuticals, boasting around 250 product families, and operates globally, including a majority stake in AvKARE, which supplies pharmaceuticals to government agencies.

Amneal Pharmaceuticals (NYSE: AMRX) is set to release its fourth quarter and full year 2020 financial results on February 26, 2021, before market open. A conference call and live webcast will take place at 8:30 a.m. ET that day, accessible via the Investor Relations section of Amneal's website. Participants can join by dialing (844) 746-0741 in the U.S. or (412) 317-5273 internationally. A replay will be available for seven days at (877) 344-7529 for U.S. callers and (412) 317-0088 for international callers, using access code 10152029.

Amneal Pharmaceuticals (NYSE:AMRX) has announced a definitive agreement to acquire a 98% interest in Kashiv Specialty Pharmaceuticals, enhancing its growth strategy. The $70 million upfront payment, plus $30 million after a year and potential contingent payments of $8 million, aims to boost Amneal's pipeline in neurology and endocrinology. This acquisition is expected to deliver approximately $15 million in annual adjusted EBITDA. The deal strengthens Amneal's R&D capabilities and is expected to close in Q2 2021, subject to regulatory approval.

Amneal Pharmaceuticals (NYSE: AMRX) announced FDA approval for a 500 mg strength of its Abiraterone Acetate Tablets, a generic version of Zytiga^® for metastatic prostate cancer. This approval follows the existing 250 mg strength and allows for use in combination with Prednisone. Amneal has initiated commercialization for this additional strength, which could tap into the U.S. market valued at approximately $413 million annually, as reported by IQVIA™.

Amneal Pharmaceuticals (NYSE: AMRX) announced that Co-CEO Chirag Patel will present at the 39th Annual J.P. Morgan Healthcare Conference on January 13, 2021, at 2:50 PM ET. The presentation will be available via a live webcast on the Company's Investor Relations website, with a replay accessible for 30 days afterward. Amneal is a fully-integrated pharmaceutical company with a diverse portfolio of approximately 250 product families, focusing on generic and specialty drug products. The Company also owns 65% of AvKARE, which serves various governmental agencies.

Amneal Pharmaceuticals (NYSE: AMRX) has received FDA approval for its Acyclovir Cream, 5%, a generic version of Zovirax® for treating recurrent cold sores in adults and adolescents. This product, which is available by prescription, is a noteworthy addition to Amneal's portfolio, representing a significant step in its strategy to provide accessible complex generics. The U.S. annual sales for Acyclovir Cream for the year ending September 2020 were around $67 million, highlighting its market potential.

Amneal Pharmaceuticals (NYSE: AMRX) reported a strong third quarter for 2020, with net revenue of $519 million, a 37% increase compared to $378 million in Q3 2019. This growth was driven by the AvKARE acquisition and new product launches, partially offset by competition in some segments. The net loss improved to $9 million from $265 million year-over-year, while diluted loss per share decreased to $0.06 from $2.03. Adjusted EBITDA surged to $114 million, a 60% rise, and the company updated its full-year guidance, projecting net revenue of $1.95 billion - $2 billion.