Amneal Pharma ( (AMRX) ) has released its Q3 earnings. Here is a breakdown of the information Amneal Pharma presented to its investors.
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Amneal Pharmaceuticals, Inc. is a global pharmaceutical company that develops, manufactures, and distributes generic and specialty pharmaceuticals primarily within the United States, with a focus on central nervous system and endocrine disorders.
Amneal Pharmaceuticals reported its third-quarter financial results for 2024, showing a net revenue of $702 million, an increase of 13% from the previous year. Despite this revenue growth, the company experienced a GAAP net loss of $0.2 million due to higher interest expenses, marking a shift from the net income reported in the same quarter of 2023.
The company’s generics segment saw a 9% revenue increase, fueled by new product launches and biosimilars. The specialty segment reported a 19% rise in revenue, supported by products in neurology and endocrinology, including the recent launch of CREXONT for Parkinson’s disease. Additionally, Amneal announced strategic partnerships and product expansions to strengthen its market position, including a collaboration with Metsera, Inc. and the acquisition of a high-value biosimilar.
Amneal’s adjusted EBITDA for the quarter reached $158 million, reflecting a 2% increase compared to the same period last year. The company reaffirmed its full-year guidance for 2024, projecting net revenue between $2.70 billion and $2.80 billion, and adjusted diluted earnings per share ranging from $0.57 to $0.63.
Looking ahead, Amneal remains focused on solidifying its growth trajectory through strategic initiatives and continued expansion of its diverse pharmaceutical portfolio. The company aims to create long-term value for stakeholders by leveraging its expertise and expanding its product pipeline.
