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.
