Business
Amphastar Pharmaceuticals Reports Financial Results for the Three Months Ended March 31, 2022
Reports Net Revenues of $120.4 Million for the Three Months Ended March 31, 2022RANCHO CUCAMONGA, CA / ACCESSWIRE / May 9, 2022 / Amphastar Pharmaceuticals,
About this update from Amphastar Pharmaceuticals, Inc.
[{"type":"text","content":"Reports Net Revenues of $120.4 Million for the Three Months Ended March 31, 2022RANCHO CUCAMONGA, CA / ACCESSWIRE / May 9, 2022 / Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) (\"Amphastar\" or the \"Company\") today reported results for the three months ended March 31, 2022.First Quarter HighlightsNet revenues of $120.4 million for the first quarterGAAP net income of $24.3 million, or $0.47 per share, for the first quarterAdjusted non-GAAP net income of $24.6 million, or $0.47 per share, for the first quarterDr. Jack Zhang, Amphastar's President and Chief Executive Officer, commented: \"The first quarter continued where 2021 ended, with strong sales of our recently launched products, which confirms our strategy focused on complex products with commercial strength. We are optimistic that our growth trend will continue in 2022.\" Three Months Ended March 31, 2022 2021 (in thousands, except per share data) Net revenues $120,368 $103,020 GAAP net income attributable to Amphastar $24,253 $5,041 Adjusted non-GAAP net income attributable to Amphastar* $24,586 $13,553 GAAP diluted EPS attributable to Amphastar stockholders $0.47 $0.10 Adjusted non-GAAP diluted EPS attributable to Amphastar stockholders* $0.47 $0.27 * Adjusted non-GAAP net income and Adjusted non-GAAP diluted EPS 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. Three Months EndedMarch 31, Change 2022 2021 Dollars % (in thousands) Net revenues: Primatene Mist® $24,697 $18,383 $6,314 34%Epinephrine 15,156 15,578 (422) (3)%Glucagon 10,984 7,984 3,000 38%Lidocaine 10,590 9,071 1,519 17%Phytonadione 10,475 9,565 910 10%Enoxaparin 10,124 10,658 (534) (5)%Naloxone 7,413 6,341 1,072 17%Other finished pharmaceutical products 27,107 20,302 6,805 34%Total finished pharmaceutical products net revenues $116,546 $97,882 $18,664 19%API 3,822 5,138 (1,316) (26)%Total net revenues $120,368 $103,020 $17,348 17% Changes in net revenues were primarily driven by:Primatene Mist® sales increased due to an increase in unit volumes as a result of the continued success of our advertising campaignGlucagon sales increased due to an increase in unit volumes resulting from a full quarter of sales in 2022, compared to the same period in 20...