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Amphastar Pharmaceuticals Reports Financial Results for the Three Months Ended September 30, 2021
Reports Net Revenues of $112.2 Million for the Three Months Ended September 30, 2021RANCHO CUCAMONGA, CA / ACCESSWIRE / November 8, 2021 / Amphastar
About this update from Amphastar Pharmaceuticals, Inc.
[{"type":"text","content":"Reports Net Revenues of $112.2 Million for the Three Months Ended September 30, 2021RANCHO CUCAMONGA, CA / ACCESSWIRE / November 8, 2021 / Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) (\"Amphastar\" or the \"Company\") today reported results for the three months ended September 30, 2021.Third Quarter HighlightsNet revenues of $112.2 million for the third quarterGAAP net income of $29.5 million, or $0.59 per share, for the third quarterAdjusted non-GAAP net income of $23.0 million, or $0.46 per share, for the third quarterDr. Jack Zhang, Amphastar's President and Chief Executive Officer, commented: \"We delivered record sales due to the continued momentum driven by the strength of our glucagon, Primatene Mist ® and our epinephrine products. These products should continue to be the primary drivers of growth until we receive further approvals for products in our pipeline, which we project will happen in 2022.\" Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in thousands, except per share data) Net revenues $112,198 $83,431 $316,881 $253,925 GAAP net income attributable to Amphastar $29,548 $3,919 $42,356 $7,676 Adjusted non-GAAP net income attributable to Amphastar* $22,998 $7,629 $47,166 $23,622 GAAP diluted EPS attributable to Amphastar stockholders $0.59 $0.08 $0.85 $0.16 Adjusted non-GAAP diluted EPS attributable to Amphastar stockholders* $0.46 $0.15 $0.95 $0.48 * Adjusted non-GAAP net income attributable to Amphastar and Adjusted non-GAAP diluted EPS attributable to Amphastar stockholders are non-GAAP financial measures. Please see the discussion in the section entitled \"Non-GAAP Financial Measures\" and the reconciliation of GAAP to non-GAAP financial measures in Table III of this press release.Third Quarter Results Three Months Ended September 30, Change 2021 2020 Dollars % (in thousands) Net revenues: Primatene Mist ® $16,561 $12,988 $3,573 28%Epinephrine 13,892 5,370 8,522 159%Glucagon 12,189 - 12,189 N/A Lidocaine 11,649 10,657 992 9%Phytonadione 11,591 10,470 1,121 11%Enoxaparin 8,034 11,647 (3,613) (31)%Naloxone 8,028 8,739 (711) (8)%Other finished pharmaceutical products 27,046 21,464 5,582 26%Total finished pharmaceutical products net revenues $108,990 $81,335 $27,655 34%API 3,208 2,096 1,112 53%Total net revenues $112,198 $83,431 $28,767 34%Changes in net revenues were primar...