Amneal (NASDAQ: AMRX) details $88.5M cash and naloxone opioids deal

Rhea-AI Filing Summary

Amneal Pharmaceuticals is moving ahead with a nationwide agreement to settle a substantial majority of opioids-related claims brought by states and local subdivisions. The settlement becomes effective on January 29, 2026.

Under the agreement, Amneal will pay participating states and subdivisions $88.5 million in cash and provide up to $177.4 million in naloxone nasal spray, valued at $125 per twin pack, to help treat opioid overdoses. Instead of product, settling parties may elect to receive 25% of the naloxone value, up to $44.4 million in additional cash during the final four years of the ten‑year payment term, which would bring the total cash commitment up to $132.9 million.

Positive

• Resolution of substantial majority of opioids-related claims: The nationwide settlement covers a substantial majority of claims by states and subdivisions, reducing long-term legal uncertainty around opioids-related litigation for Amneal Pharmaceuticals.

Negative

• Large, multi-year financial commitment: The settlement requires $88.5 million in cash payments and up to $177.4 million in naloxone product, with potential total cash outlay rising to $132.9 million over ten years.
• Increased potential cash burden versus in-kind product: Allowing settling parties to opt for 25% of naloxone’s value in cash during the last four years could shift value from product delivery toward higher cash payments, up to an extra $44.4 million.

Insights

Litigation and credit risk analyst

Amneal locks in a large opioids settlement, trading cash and product obligations for reduced legal overhang.

Amneal Pharmaceuticals has confirmed effectiveness of a nationwide opioids-related settlement covering a substantial majority of state and subdivision claims. The agreement commits the company to $88.5 million in cash payments plus up to $177.4 million in naloxone nasal spray over a ten‑year term.

The structure allows settling parties, in the final four years, to opt for cash equal to 25% of the naloxone value, up to an additional $44.4 million. This takes the potential total cash obligation to $132.9 million, alongside product deliveries valued at $125 per twin pack.

This outcome appears financially significant given the multi‑year obligations, but it also consolidates a large portion of opioids-related exposure into a defined framework. Future disclosures in periodic reports will clarify the timing of payments and any balance‑sheet or cash‑flow impacts over the ten‑year schedule.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): January 23, 2026

AMNEAL PHARMACEUTICALS, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-38485

93-4225266

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

400 Crossing Blvd

Bridgewater, NJ 08807

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (908) 947-3120

N/A

(Former Name or Former Address, if Changed Since Last Report) 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: 

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A Common Stock, par value $0.01 per share

AMRX

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events

On January 23, 2026, Amneal Pharmaceuticals, Inc. (the “Company”) determined that it will make effective its nationwide agreement to settle a substantial majority of the opioids-related claims brought against the Company by various states and subdivisions (the “Nationwide Opioids Settlement Agreement”), having previously secured sufficient participation by those states and subdivisions, including all eligible state and territorial attorneys general and all subdivisions that previously sued the Company. The Nationwide Opioids Settlement Agreement will become effective on January 29, 2026. Under the terms of the Nationwide Opioids Settlement Agreement, the Company will pay the participating states and subdivisions $88.5 million and provide up to $177.4 million (valued at $125/twin pack) in naloxone nasal spray to help treat opioid overdoses. In lieu of receiving product, the settling parties can opt to receive 25% of the naloxone nasal spray's value (up to $44.4 million) in cash during the last four years of the ten year payment term, which could increase the total amount of cash the Company would agree to pay up to $132.9 million.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: January 28, 2026			AMNEAL PHARMACEUTICALS, INC.
			By:						/s/ Jason B. Daly
			Name:						Jason B. Daly
			Title:						Executive Vice President and Chief Legal Officer

FAQ

What opioids-related settlement did Amneal Pharmaceuticals (AMRX) finalize?

Amneal Pharmaceuticals finalized a nationwide agreement to settle a substantial majority of opioids-related claims by states and subdivisions. The settlement combines cash payments and naloxone nasal spray deliveries to address opioid overdoses over a ten-year period.

How much will Amneal Pharmaceuticals (AMRX) pay in cash under the opioids settlement?

Amneal will pay participating states and subdivisions $88.5 million in cash. In addition, settling parties may later choose cash instead of some naloxone, which could lift the total cash commitment to as much as $132.9 million over the ten-year term.

What product is Amneal Pharmaceuticals (AMRX) providing in its opioids settlement?

Amneal will provide up to $177.4 million of naloxone nasal spray, valued at $125 per twin pack. Naloxone is used to help treat opioid overdoses, making the product component a direct contribution to overdose response efforts under the settlement.

When does the Amneal Pharmaceuticals (AMRX) nationwide opioids settlement become effective?

The nationwide opioids settlement becomes effective on January 29, 2026. The company determined to make the agreement effective after securing sufficient participation from eligible states, territorial attorneys general, and subdivisions that previously sued Amneal Pharmaceuticals.

Can parties in the Amneal Pharmaceuticals (AMRX) settlement choose cash instead of naloxone product?

Yes. Settling parties may opt to receive 25% of the naloxone nasal spray’s value in cash during the settlement’s final four years. This option can add up to $44.4 million in cash, raising Amneal’s total potential cash payments to $132.9 million.

Over what period will Amneal Pharmaceuticals (AMRX) make payments under the opioids settlement?

Payments and product deliveries are structured over a ten-year term. During the last four years of that period, settling parties can elect to receive a portion of the naloxone’s value in cash, affecting how the total obligation is split between product and cash.