Amphastar Pharmaceuticals, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 04:25 pm EST
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Amphastar Pharmaceuticals, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 180.56 million compared to USD 120.13 million a year ago. Net income was USD 49.22 million compared to USD 15.87 million a year ago. Basic earnings per share from continuing operations was USD 1.01 compared to USD 0.32 a year ago. Diluted earnings per share from continuing operations was USD 0.91 compared to USD 0.3 a year ago.
For the nine months, revenue was USD 466.29 million compared to USD 363.96 million a year ago. Net income was USD 101.38 million compared to USD 57.47 million a year ago. Basic earnings per share from continuing operations was USD 2.1 compared to USD 1.18 a year ago. Diluted earnings per share from continuing operations was USD 1.91 compared to USD 1.09 a year ago.
Amphastar Pharmaceuticals, Inc. is a biopharmaceutical company that focuses primarily on developing, manufacturing, marketing, and selling technically challenging generic and injectable, inhalation, and intranasal products. Additionally, it sells insulin API products. Most of its finished products are used in hospital or urgent care clinical settings and are primarily contracted and distributed through group purchasing organizations and drug wholesalers. Its segments include finished pharmaceutical products and API products. The finished pharmaceutical products segment manufactures, markets and distributes Primatene MIST, epinephrine, glucagon, phytonadione, lidocaine, enoxaparin, naloxone, as well as various other critical and non-critical care drugs. The API segment manufactures and distributes RHI API and porcine insulin API for external customers and internal product development. Its pipeline has over 20 product candidates, including generic ANDAs, biosimilar, and others.
AMPHASTAR PHARMACEUTICALS, INC. 
