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MarketScreener Homepage  >  Equities  >  Nyse  >  Amneal Pharmaceuticals, Inc.    AMRX

AMNEAL PHARMACEUTICALS, INC.

(AMRX)
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Amneal Pharmaceuticals : State of Texas and Senator Bryan Hughes Secure a Donation of Hydroxychloroquine Sulfate from Amneal Pharmaceuticals for Texas Patients

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03/26/2020 | 03:32pm EDT

Amneal Pharmaceuticals, Inc. (NYSE: AMRX) (“Amneal” or the “Company”), one of the largest U.S.-based generics manufacturers, and the State of Texas today announced that they are responding to the national COVID-19 health emergency. Amneal has donated 1,000,000 hydroxychloroquine sulfate tablets to the Texas State Pharmacy, which will be directly distributed to hospitals for potential use in treating COVID-19 patients.

“On behalf of the people of Texas, I thank Amneal for this generous donation,” said Senator Hughes, who chairs the Senate’s Committee on State Affairs. “In trying times like these, Americans come together and put others ahead of themselves. Amneal’s donation is a shining example, and it reminds us of how blessed we are to be Americans.”

Senator Hughes added, “I also want to thank the leadership of the Texas Department of Emergency Management, the Texas Health and Human Services Commission, and many professionals at Franklin Scott Conway LLP, who were instrumental in securing this donation.”

“This is a crucial time in the global fight against COVID-19,” said Chirag and Chintu Patel, Co-Chief Executive Officers of Amneal. “With an existing supply of hydroxychloroquine sulfate and our ability to quickly accelerate production, we are humbled to be able to assist the hardest hit states and hospitals around the country to benefit as many patients as possible.”

Amneal noted that it has donated 2,000,000 tablets of 200mg hydroxychloroquine sulfate to New York, and will provide more as needed. The Company is also donating and providing products directly to hospitals across the country.

Hydroxychloroquine sulfate was first synthesized in 1946 and is in a class of medications historically used to treat and prevent malaria. Today, Amneal’s hydroxychloroquine sulfate tablets are approved by the U.S. Food and Drug Administration (FDA) to treat malaria, rheumatoid arthritis, lupus, childhood arthritis and other autoimmune diseases. Hydroxychloroquine is not FDA-approved for the treatment of COVID-19; but it has been identified as a possible treatment for COVID-19,1 and the U.S. government has requested its immediate availability.

About Amneal

Amneal Pharmaceuticals, Inc. (NYSE: AMRX) headquartered in Bridgewater, NJ, is a fully-integrated pharmaceutical company focused on the development, manufacturing and distribution of generic and specialty drug products. The Company has manufacturing operations in North America, Asia, and Europe, working together to bring high-quality medicines to patients primarily within the United States.

Amneal has an extensive portfolio of more than 225 marketed commercial products and is expanding its portfolio to include complex dosage forms, including biosimilars, in a broad range of therapeutic areas. The Company also markets a portfolio of branded pharmaceutical products through its Specialty segment focused principally on central nervous system and endocrine disorders. For more information, visit https://www.amneal.com.

Forward-Looking Statements

Certain statements contained herein, regarding matters that are not historical facts, may be forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995, as amended). Such forward-looking statements include statements regarding management’s intentions, plans, beliefs, expectations or forecasts for the future, including, among other things, future operating results and financial performance, product development and launches, integration strategies and resulting cost reduction, market position and business strategy. Words such as “may,” “will,” “could,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “assume,” “continue,” and similar words are intended to identify estimates and forward-looking statements.

The reader is cautioned not to rely on these forward-looking statements. These forward-looking statements are based on current expectations of future events. If the underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Amneal. A list and descriptions of these risks, uncertainties and other factors can be found in the Company’s most recently filed Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as supplemented by any subsequently filed Quarterly Reports on Form 10-Q. Copies of these filings are available online at www.sec.gov, www.amneal.com or on request from the Company.

Forward-looking statements included herein speak only as of the date hereof and we undertake no obligation to revise or update such statements to reflect the occurrence of events or circumstances after the date hereof, except as otherwise required by United States securities laws.

1https://www.who.int/blueprint/priority-diseases/key-action/Table_of_therapeutics_Appendix_17022020.pdf?ua=1


© Business Wire 2020
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Financials (USD)
Sales 2020 1 895 M
EBIT 2020 363 M
Net income 2020 -
Debt 2020 2 608 M
Yield 2020 -
P/E ratio 2020 -1,16x
P/E ratio 2021 -1,24x
EV / Sales2020 1,60x
EV / Sales2021 1,50x
Capitalization 429 M
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Mean consensus HOLD
Number of Analysts 11
Average target price 4,00  $
Last Close Price 2,91  $
Spread / Highest target 141%
Spread / Average Target 37,5%
Spread / Lowest Target 3,09%
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Managers
NameTitle
Chintu Patel Co-Chief Executive Officer & Director
Chirag K. Patel President & Co-Chief Executive Officer & Director
Paul M. Meister Chairman
Andrew S. Boyer Executive Vice President-Commercial Operations
Anastasios G. Konidaris Chief Financial Officer & Senior Vice President
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