Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Vandana Singh

Amneal Pharma's Q4 Earnings Fall Short Of Expectations, Sees FY22 Sales Growth Of 7%

Amneal Pharmaceuticals Inc (NYSE:AMRX) reports Q4 revenue of $537 million, an increase of 5% Y/Y, marginally missing the consensus of $537.35 million.

  • The increase was driven by Generic product launches and growth in Specialty products Rytary and Unithroid, partially offset by price erosion.
  • Adjusted EPS was $0.18, below the consensus of $0.20, and better than $0.14 posted a year ago.
  • Adjusted EBITDA increased 18% to $126 million, reflecting higher adjusted gross profit driven by higher revenues, reduced material costs, and operating efficiencies, partially offset by higher expenses.
  • Related: Amneal's $83M Saol Acquisition Deal Expands Its Neurology Presence Into Spasticity.
  • The company also entered the U.S. biosimilar market with FDA approval for filgrastim-ayow, a biosimilar referencing Neupogen, marketed under the proprietary name Releuko.
  • Releuko is used to treat neutropenia (low neutrophils, a type of white blood cells that fight infection) commonly experienced by chemotherapy patients. 
  • Amneal expects to launch Releuko in Q3 of 2022.
  • Outlook: Amneal expects FY22 sales of $2.15 billion - $2.25 billion, compared to the consensus of $2.17 billion.
  • The company expects adjusted EPS of $0.80 - $0.85, below the consensus of $0.90.
  • It expects adjusted EBITDA of $540 million - $560 million, with operating cash flow of $225 million - $250 million.
  • Price Action: AMRX shares closed 2.25% higher at $4.54 during after-hours trading on Tuesday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.