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Amphastar Pharmaceuticals Reports Financial Results for the Three Months Ended September 30, 2022
Reports Net Revenues of $120.1 Million for the Three Months Ended September 30, 2022RANCHO CUCAMONGA, CA / ACCESSWIRE / November 7, 2022 / Amphastar
About this update from Amphastar Pharmaceuticals, Inc.
[{"type":"text","content":"Reports Net Revenues of $120.1 Million for the Three Months Ended September 30, 2022RANCHO CUCAMONGA, CA / ACCESSWIRE / November 7, 2022 / Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) (\"Amphastar\" or the \"Company\") today reported results for the three months ended September 30, 2022.Third Quarter HighlightsNet revenues of $120.1 million for the third quarterGAAP net income of $15.9 million, or $0.30 per share, for the third quarterAdjusted non-GAAP net income of $20.2 million, or $0.38 per share, for the third quarterDr. Jack Zhang, Amphastar's President and Chief Executive Officer, commented: \"We are pleased to report that our continued investment in capacity has successfully led to another quarter of solid growth driven by strong epinephrine, Primatene Mist ® , and glucagon sales. Looking ahead to next year, we remain optimistic that our multiple pipeline product candidates will continue to progress through their respective stages of development and will ultimately position us to deliver continued growth in the future.\" Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net revenues $120,129 $112,198 $363,964 $316,881 GAAP net income attributable to Amphastar $15,874 $29,548 $57,473 $42,356 Adjusted non-GAAP net income attributable to Amphastar* $20,232 $22,998 $65,548 $47,166 GAAP diluted EPS attributable to Amphastar stockholders $0.30 $0.59 $1.09 $0.85 Adjusted non-GAAP diluted EPS attributable to Amphastar stockholders* $0.38 $0.46 $1.24 $0.95 * 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 2022 2021 Dollars % Net revenues: (in thousands) Epinephrine $19,502 $13,892 $5,610 40%Primatene Mist® 18,359 16,561 1,798 11%Glucagon 14,224 12,189 2,035 17%Phytonadione 13,978 11,591 2,387 21%Lidocaine 12,621 11,649 972 8%Enoxaparin 7,983 8,034 (51) (1%Naloxone 6,818 8,028 (1,210) (15)%Other finished pharmaceutical products 23,635 27,046 (3,411) (13)%Total finished pharmaceutical products net revenues $117,120 $108,990 $8,130 7%API 3,009 3,208 (...