Financial Data and Key Metrics - Total revenues for Q2 2024 increased by 25% year-over-year to $182.4 million, driven by strong sales growth across key products [6] - Primatene MIST sales grew by 38% to $22.9 million, while Epinephrine sales surged by 67% to $27.9 million [6][12] - BAQSIMI achieved worldwide sales of $38.5 million, a 10% increase compared to the same period last year [5] - Gross margins improved to 52.2% from 49.9% in the previous year, supported by higher-margin products like BAQSIMI and Primatene MIST [16] - Net income increased by 45% to $37.9 million, or $0.73 per share, compared to $26.1 million, or $0.49 per share, in Q2 2023 [17] Business Line Performance - Primatene MIST is on track to meet the $100 million sales target by the end of 2024, with in-store sales growing by 14% year-over-year [6] - Epinephrine sales benefited from supplier shortages, with increased production capacity helping to meet demand [7][12] - Glucagon injection sales remained flat, with declines in the U.S. offset by growth in Canada [13] - Phytonadione sales decreased to $10.3 million due to increased competition, while Enoxaparin and Naloxone sales also declined [13] - Other finished pharmaceutical product sales decreased to $34.7 million, primarily due to a $4.6 million drop in medroxyprogesterone sales [13] Market Performance - BAQSIMI sales in the U.S. and Europe contributed $30.9 million in net revenues, with an additional $7.6 million from Lilly's distribution under a transition service agreement [14] - The company expects to transition more countries to its own distribution for BAQSIMI throughout 2024, which will increase product sales but reduce net economic benefits [15] - The Insulin API business saw sales increase to $3.5 million, up from $2.8 million last year [16] Strategic Direction and Industry Competition - The company is focused on transitioning from generics to higher-value products, including branded offerings, biosimilars, and complex products [10] - Amphastar is strategically enhancing manufacturing efficiencies to meet current and future market demand, particularly for Epinephrine and Primatene MIST [7] - The company is advancing its pipeline with three significant product approvals expected in the second half of 2024, including teriparatide (AMP-015), AMP-007, and AMP-002 [10] - The lawsuit filed by Teva regarding generic albuterol is being vigorously defended, with the company confident in its position [8] Management Commentary on Operating Environment and Future Outlook - Management highlighted the strong performance of BAQSIMI and Primatene MIST as key drivers of growth [5][6] - The company is optimistic about the second half of 2024, with potential product approvals expected to contribute significantly to revenue growth [10] - Management noted the importance of operational efficiencies and manufacturing enhancements in supporting long-term growth [11] Other Important Information - The company completed the first contract year of the five-year milestone payment agreement with Lilly for BAQSIMI, with cumulative sales of $163.2 million, below the threshold for milestone payments [15] - Research and development expenses increased by 5% to $17.7 million, driven by salary increases and the ANDA filing fee for AMP-018 [17] - The company repurchased $8.5 million worth of shares and paid down an $8 million mortgage during the quarter [19] Q&A Session Summary Question: Epinephrine franchise outlook and generic ProAir opportunity [22] - Epinephrine sales are expected to remain strong, with competitor shortages likely to persist until Q4 2024 [23] - Generic ProAir has been launched, with the company working to secure market share and increase packaging capacity over the next few quarters [25][26] Question: Pipeline updates on AMP-002, GLP-1 (AMP-018), and AMP-007 [28] - AMP-002 is nearing resolution with the FDA, with progress expected soon [29] - AMP-018 (GLP-1) is a Paragraph IV filing, with potential competition expected upon launch [29] - AMP-007 is also a Paragraph IV filing, with market competition details undisclosed for competitive reasons [29] Question: BAQSIMI's impact on gross margins and business development strategy [31][32] - BAQSIMI's transition to Amphastar's distribution will reduce gross margins due to higher cost of goods [33] - The company is actively pursuing business development opportunities, focusing on both in-development and market-ready assets [34] Question: REXTOVY performance and selling/marketing costs outlook [36] - REXTOVY is expected to have limited impact due to market competition, with a focus on government and first responder contracts [37] - Selling and marketing costs are expected to grow by 10% as the company expands its sales force and distribution efforts [39] Question: BAQSIMI sales growth drivers and country-by-country transition timeline [41][46] - BAQSIMI's sales growth was driven by unit volume, with pricing decreases in the U.S. offset by growth in other markets [42] - The transition to Amphastar's distribution is expected to be completed for most countries by the end of Q3 2024, with final transitions likely in Q4 or early 2025 [48] Question: Supply dynamics for lidocaine and phytonadione [49] - Competitor supply issues are expected to ease in Q4 2024, potentially impacting sales of certain products [50] - The company has increased production capacity to better respond to market shortages and demand fluctuations [50]

Financial Position - Total current assets as of June 30, 2024, are $482,645,000, a decrease from $489,600,000 as of December 31, 2023[18] - Total liabilities decreased to $778,176,000 from $873,491,000, a reduction of 10.9%[19] - The company reported total assets of $1,491,522,000 as of June 30, 2024, down from $1,512,912,000 at the end of 2023[18] - Total equity increased to $713,346,000 from $639,421,000, marking a rise of 11.5%[20] - The current portion of long-term debt decreased to $249,000 from $436,000, a decline of 42.8%[19] - As of June 30, 2024, the total debt stood at $599,741 thousand, a slight decrease from $603,790 thousand on December 31, 2023[113] Revenue and Income - Total net revenues for the three months ended June 30, 2024, were $182,394 thousand, a 25.1% increase from $145,712 thousand for the same period in 2023[21] - Net income for the three months ended June 30, 2024, was $37,949 thousand, a 45.2% increase compared to $26,124 thousand for the same period in 2023[24] - Basic net income per share for the three months ended June 30, 2024, was $0.77, up from $0.54 for the same period in 2023, indicating a 42.6% increase[21] - Total net revenues for the six months ended June 30, 2024, reached $354,230 thousand, compared to $285,734 thousand for the same period in 2023, indicating a 24.0% increase[21] - Net income for the six months ended June 30, 2024, was $81,126, compared to $52,156 for the same period in 2023, representing a 55.6% increase[29] Expenses - Operating expenses for the three months ended June 30, 2024, totaled $39,949 thousand, an increase from $35,842 thousand in the same period of 2023, reflecting an 8.6% rise[21] - Research and development expenses increased to $17,652 thousand for the three months ended June 30, 2024, up from $16,843 thousand in the same period of 2023, representing a 4.8% increase[21] - Selling, distribution, and marketing expenses increased by 34% to $9,012, primarily due to expanded marketing efforts for BAQSIMI®[186] - Research and development expenses totaled $17,652, a 5% increase from $16,843, mainly due to higher salary and personnel-related costs[187] Cash Flow - Net cash provided by operating activities increased to $124,400 for the six months ended June 30, 2024, up from $95,305 in the prior year, reflecting a 30.6% growth[29] - The company experienced a net cash used in investing activities of $54,666 for the six months ended June 30, 2024, compared to $514,915 in the previous year, indicating a substantial decrease in cash outflow[29] - The company reported a principal payment of $8,107 on long-term debt for the six months ended June 30, 2024, compared to $68,432 in the prior year, showing a significant reduction in debt repayment[29] Acquisitions and Investments - The acquisition of BAQSIMI® resulted in a cash outflow of $129,000, compared to $500,829 in the previous year, indicating a significant reduction in investment[29] - The total purchase price for the BAQSIMI® acquisition was allocated to acquired assets totaling $628.1 million, with $591.3 million attributed to BAQSIMI® product rights[60] - The Company has not triggered any sales milestones for additional contingent consideration of up to $575.0 million related to the BAQSIMI® acquisition as of June 30, 2024[61] Market and Product Performance - The company anticipates increased revenues from the newly acquired product BAQSIMI®[15] - Finished pharmaceutical products segment net revenues for the three months ended June 30, 2024, were $178.9 million, up from $142.9 million in the same period of 2023, reflecting a growth of 25.2%[83] - Sales of epinephrine surged by 47% to $54.05 million, driven by increased unit volumes due to competitor shortages[195] - The company manufactures and sells over 25 products, with major products including BAQSIMI®, Primatene MIST®, and glucagon[166] Shareholder Actions - The Company repurchased 207,288 shares for a total of $8.5 million during the three months ended June 30, 2024, compared to 3,585 shares for $0.1 million in the same period of 2023[132] - The Board of Directors authorized a $50.0 million increase to the share buyback program, bringing the total authorized amount to $335.0 million since inception[136] Tax and Regulatory - The income tax provision for the three months ended June 30, 2024, was $12,294 thousand, resulting in an effective tax rate of 24.5%, up from 19.5% in the same period of 2023[129] - The effective tax rate rose to 24% from 19%, influenced by changes in pre-tax income and timing of discrete tax items[192] Strategic Initiatives - The company is focused on expanding internationally and integrating new assets, including BAQSIMI®[15] - The FDA approved the company's Albuterol Sulfate Inhalation Aerosol in May 2024, with plans to launch in Q3 2024[169] - The company has made several strategic acquisitions to enhance its manufacturing and R&D capabilities[167] Economic Environment - Recent macroeconomic conditions, including inflation and geopolitical conflicts, pose challenges to the company's business operations[168]

Amphastar Pharmaceuticals (AMPH) came out with quarterly earnings of $0.94 per share, beating the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.65 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20.51%. A quarter ago, it was expected that this specialty pharmaceutical company would post earnings of $0.77 per share when it actually produced earnings of $1.04, delivering a surprise of 35.06%.Over t ...

EXHIBIT 99.1 Amphastar Pharmaceuticals Reports Financial Results for the Three Months Ended June 30, 2024 Reports Net Revenues of $182.4 Million for the Three Months Ended June 30, 2024 RANCHO CUCAMONGA, CA – August 7, 2024 – Amphastar Pharmaceuticals, Inc. (NASDAQ: AMPH) ("Amphastar" or the "Company") today reported results for the three months ended June 30, 2024. Second Quarter Highlights ● Net revenues of $182.4 million for the second quarter ● GAAP net income of $37.9 million, or $0.73 per share, for t ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Amphastar Pharmaceuticals (AMPH) , which belongs to the Zacks Medical - Generic Drugs industry, could be a great candidate to consider.When looking at the last two reports, this specialty pharmaceutical company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 18.11%, on average, in the last two quarters ...

Fundamentally, the biotechnology sphere enjoys a powerful catalyst: wealth without health means nothing. Yes, it’s important to save money and invest for the future. At the same time, investing in one’s health is even more important. You can always make more money. You can’t always gain more wellness. With that in mind, the below biotech stocks to buy on the dip are even more compelling.Again, the sector is supremely relevant. Therefore, any volatility in established or otherwise strong enterprises should e ...

TROY, Mich., June 14, 2024 /PRNewswire/ -- The Editorial Advisory and Securities Review Committee of BetterInvesting Magazine today announced Amphastar Pharmaceuticals Inc. (NASDAQ: AMPH) as its "Stock to Study" and Medtronic PLC (NYSE: MDT) as its "Undervalued Stock" in the September 2024 issue for investors' informational and educational use. "With GameStop back in the headlines, the siren song of easy money has returned, luring the unschooled down treacherous paths. The National Association of Investors ...

Just_Super/E+ via Getty Images Preamble My regular readers would know I look for value, growth, and quality in the companies I write about. I have not published much lately as it has been much harder to find good quality, value investments with sustainable growth. Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) surfaced using Seeking Alpha's screener is interesting. The parameters I set in Seeking Alpha's screeners were: Long-term-debt-to-total-capital (between 0% to 50%) Past 3-years average revenue gro ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ⌧ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-36509 | --- | --- | |---------------------------------------------------------------------------------------------------- ...

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Q1 2024 Earnings Conference Call May 8, 2024 5:00 PM ET Company Participants Dan Dischner - Senior Vice President of Corporate Communications William Peters - Chief Financial Officer Conference Call Participants Ekaterina Knyazkova - JPMorgan Timothy Chiang - Capital One Pavan Patel - Bank of America Operator Greetings and welcome to the Amphastar Pharmaceuticals' First Quarter Earnings Call. At this time, all participants are in a listen-only mode. A question-a ...