Amneal Pharmaceuticals Reports Net Revenue of $599 million, Raises 2023 Full Year Guidance

Amneal Pharmaceuticals, Inc. (NYSE: AMRX) has reported net revenue of $599 million and has raised its full year 2023 guidance following a strong second quarter performance.

Chirag and Chintu Patel, Co-Chief Executive Officers of Amneal, said, “As one of the largest domestic pharmaceutical manufacturers, we are focused on doing our part in addressing the ongoing drug shortages in the U.S. market. As we accelerate growth and profitability, we are also extending the reach and impact of Amneal in making essential medicines more accessible for patients around the world.”

Highlights

The company’s net revenue in the second quarter of 2023 was $599 million, an increase of 7% compared to $559 million in the second quarter of 2022.

Net income attributable to Amneal Pharmaceuticals, Inc. was $12 million in the second quarter of 2023 compared to a net loss of $121 million in the second quarter of 2022.

Adjusted EBITDA in the second quarter of 2023 was $146 million, an increase of 9% compared to the second quarter of 2022.

Amneal Pharmaceuticals has raised its full year guidance from $2.5-2.35 billion to $2.30-2.40 billion

About Amneal Pharmaceuticals

 Amneal Pharmaceuticals, Inc., headquartered in Bridgewater, NJ, is a fully integrated global pharmaceuticals company. We make healthy possible through the development, manufacturing, and distribution of a diverse portfolio of approximately 270 generic and specialty pharmaceuticals, primarily within the United States. In its Generics segment, the Company is expanding across a broad range of complex product categories and therapeutic areas, including injectables and biosimilars. In its Specialty segment, Amneal has a growing portfolio of branded pharmaceuticals focused primarily on central nervous system and endocrine disorders, with a pipeline focused on unmet needs. Through its AvKARE segment, the Company is a distributor of pharmaceuticals and other products for the U.S. federal government, retail, and institutional markets. For more information, please visit www.amneal.com.

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Amneal Pharmaceuticals Reports Net Revenue of $599 million, Raises 2023 Full Year Guidance

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