Amneal Pharmaceuticals, Inc. · NASDAQ:AMRX
Amneal Pharmaceuticals — Q1 2025 Earnings Presentation
30 slides from Amneal Pharmaceuticals's earnings presentation, May 2, 2025
Slide 1: Q1 2025 Earnings Call
Q1 2025 Earnings Call May 2, 2025 1
Slide 2: Cautionary statement on forward looking statements
Cautionary statement on forward looking statements Certain statements contained herein, regarding matters that are not historical facts, may be forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995). Such forward-looking statements include statements reg
Slide 3: Agenda
Q1 2025 earnings call Agenda Strategy & Business Update 1 Chirag and Chintu Patel, Co-founders and Co-CEOs Chirag Patel, Chintu Patel, Tasos Konidaris, Co-CEO and President Co-CEO EVP & CFO Financial Results 2 Tasos Konidaris, EVP & CFO 3 Q&A Andy Boyer, EVP – Joe Renda, Jason Daly, EVP Affordable M
Slide 4: Q1 2025 key highlights
Q1 2025 key highlights Another Strong • Q1 revenue $695M +5%, adjusted EBITDA $170M +12% & adjusted EPS $0.21 +50% Quarter of Growth • Continued broad-based revenue growth across all three business segments in Q1 in Q1 2025 with Affordable Medicines +6%, Specialty +3% and AvKARE +6% • Successful CRE
Slide 5: Amneal Pharmaceuticals Built for Growth
Amneal Pharmaceuticals Global scale & Built for Growth Diversified & expanding capabilities Across R&D, manufacturing, in high-growth areas commercial and distribution Specialty, Biosimilars, GLP-1, Injectables, Complex products, and Distribution Leader in complex innovations 280+ products with best
Slide 6: Entering a new chapter of growth in 2025 and beyond
Entering a new chapter of growth in 2025 and beyond GLP-1 / PEPTIDES 2028 CREXONT® LAUNCH 2019 – 2024: IN SPECIALTY 2025 & B E YON D : 2024 D IV E RS IFIE D B U S IN E S S A N D N E W E RA OF G ROWT H A S A E XPA N D E D PORT FOLIO G LOB A L B IOPHA RM A C E U T IC A L BIOSIMILARS C OM PA N Y 2022 •
Slide 7: Successful transformation and track record of success
Successful transformation and track record of success: Diversification, growth and deleveraging to create value 2019 2025 (1) $1.6B $3.0 - $3.1B Net Revenues -2% +7% to +11% I n c r e a s e d D i v e r si f i c a ti on Oral solid generics % of total revenue 53% 23% D e e p P i p el i n e Pending AND
Slide 8: Strong and sustainable revenue growth and profitability driven by all business areas
Strong and sustainable revenue growth and profitability driven by all business areas $3.0 – $3.1B $2.8B $2.4B $663 $2.2B $2.1B $2.0B $532 $349 $406 $446 Net Revenue +11% $1.6B $294 from 2019 to 2024 CAGR $390 $374 $356 $378 $318 $78 $718 Adjusted EBITDA +13% $292 $452 $490 $569 from 2019 to 2024 CAG
Slide 9: Formula for sustainable long-term revenue growth
Formula for sustainable long-term revenue growth 2024 Segment Strategy for Growth Growth Projection (2) Revenue Leading retail and injectables portfolio with durable and impactful complex products including 505(b)(2) injectables; Affordable ongoing cadence of new product launches, expanding M e d i
Slide 10: R&D and manufacturing capabilities are a competitive advantage
Our R&D and manufacturing capabilities are a competitive advantage with one of the largest U.S. manufacturing footprints in the industry Strong R&D and manufacturing capabilities Global network of FDA-approved, delivering complex & high-value dosage forms cGMP manufacturing sites INJECTIBLES ORAL SO
Slide 11: New product launches and pipeline across our portfolio
New product launches and pipeline across our portfolio Affordable Medicines Segment Specialty Segment Retail Injectables Biosimilars ✓ Launched: Memantine/Donepezil, ✓ Launched: Exenatide pen injector, ✓ Q1 BLA filing: 2 ❑Q2: DHE autoinjector Everolimus, Mesalamine, Pitavastatin, Sodium phosphate, L
Slide 12: Expanding specialty business with new therapeutic offerings
Expanding specialty business with new therapeutic offerings Specialty highlights Continued Specialty growth Next Growth Drivers Expanding portfolio CREXONT building momentum Launches & near-term pipeline • Therapeutic focus today on Revenue Q1 2025 % Growth Timing Program Therapeutic Area Neurology
Slide 13: Strong adoption of CREXONT for Parkinson's Disease
Strong adoption of CREXONT® for Parkinson’s Disease CREXONT® on-track to be leading branded therapy Strong first year results for growing Parkinson’s patient population Ahead of expectations • 1M+ U.S. Parkinson's Disease (PD) patient population, ~700K C R E X O N T ® P R E S C R I P T I O N G R O W
Slide 14: DHE autoinjector for episodic migraine and cluster headache
DHE autoinjector is a potential new treatment for episodic migraine and cluster headache Note: DHE autoinjector application is pending with the U.S. FDA. DHE (dihydroergotamine mesylate) autoinjector First and only autoinjector to deliver Potential to self-administer with same medication used in hos
Slide 15: Strategic collaboration with Metsera in the GLP-1 space
Strategic collaboration with Metsera represents a new, integrated business model to drive innovation at scale and speed in the GLP-1 space GLOBAL OBESITY AND METABOLIC DISEASE MARKET 2 0 2 4 - 2 0 3 0 (1) Deep expertise in complex drug development & manufacturing; $150B+ Strong track record of deliv
Slide 16: Our biosimilars portfolio is well-positioned for growth
Our biosimilars portfolio is well-positioned for growth Biosimilar Market Our Strategy Product name Therapeutic U.S. Market Biosimilar Size ($B) (2) Status Area Next Wave of Affordable Medicines With an Expanding Portfolio Biologic Brand ALYMSYS® • Growing U.S. adoption of • To date, in-licensing mo
Slide 17: Growing injectables portfolio with new 505(b)(2) injectables
Growing injectables portfolio with addition of new 505(b)(2) injectables Differentiated Portfolio New 505(b)(2) Injectable launches with expanding capacity & capabilities represents new vector for growth • Portfolio of 40+ injectables generated $165M revenues in 2024, • PEMRYDI RTU®: 1st RTU version
Slide 18: Diversified Affordable Medicines portfolio driving sustainable growth
Diversified Affordable Medicines portfolio driving sustainable growth Purposeful Mix Shift Deep Pipeline towards a more complex portfolio with focus on complex products Affordable Medicines net revenues mix ($’s) Pipeline mix (# of products) ~47 pipeline programs 4% ~$72B TAM 35% 46% 44% 41% 56% 52%
Slide 19: Delivering continued double-digit growth in AvKARE segment
Delivering continued double-digit growth in AvKARE segment AvKARE Revenue by Year Well Positioned for Long-term Growth +23% revenue CAGR from 2020 to 2024 driven by new products and expanding channels ($ millions) • Wholesaler and re-packager selling to U.S. Government $663 agencies, clinics and hos
Slide 20: Q1 2025 financial performance
Q1 2025 financial performance Results(1) Q1 2025 Q1 2024 Change Key Drivers / Commentary $ millions except for EPS Net Revenue $695 $659 +5.5% • Broad-based growth across all business segments Adjusted Gross Margin 43.1% 41.9% +120 bps • Reflects favorable product mix and operating efficiencies Adju
Slide 21: Q1 2025 performance by segment
Q1 2025 performance by segment Results(1) Q1 Key Drivers / Commentary $ millions 2025 2024 $415 $391 Net Revenue • Strong performance of new launches and complex products Affordable +6.0% Medicines Adjusted 44.1% 41.8% • Favorable product mix and operating efficiencies Gross Margin +230 bps $108 $10
Slide 22: Affirming full year 2025 guidance
Affirming full year 2025 guidance and continued strong growth profile 2025 Guidance 2024 Actual (1) Net Revenue $3.0 – $3.1B $2.8B % growth +7% to +11% +17% Adjusted EBITDA $650 – $675M $627M % growth +4% to +8% +12% (2) Adjusted Diluted EPS $0.65 – $0.70 $0.58 % growth +12% to +21% -9% Operating Ca
Slide 23: Focused on continued debt paydown and deleveraging
Focused on continued debt paydown and deleveraging $ millions Mar. 31, 2025 Dec. 31, 2024 Driving continued de-leveraging (1) Gross debt $2,568 $2,585 • 3.9x net leverage at end of 2024, one year ahead of our target to be below 4x; Paid down $182M gross debt in 2024 (2) Total cash $59 $111 • In 2025
Slide 24: Appendix: Non-GAAP Reconciliations
Appendix: Non-GAAP Reconciliations
Slide 25: Reconciliation of net income (loss) to EBITDA and Adjusted EBITDA
Reconciliation of net income (loss) to EBITDA and Adjusted EBITDA Note: Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. (1) System implementation expense and change in the fair value of contingent cons
Slide 26: Reconciliation of net (loss) income to EBITDA and Adjusted EBITDA
Reconciliation of net (loss) income to EBITDA and Adjusted EBITDA Note: Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. (1) System implementation expense, formerly included as its own caption in the no
Slide 27: Reconciliation of net income (loss) to adjusted results
Reconciliation of net income (loss) to adjusted results Note: Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. (1) System implementation expense and change in the fair value of contingent consideration,
Slide 28: Reconciliations of cost of goods sold and segment gross profit to adjusted results
Reconciliations of cost of goods sold and segment gross profit to adjusted results Note: Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 28
Slide 29: Additional reconciliations
Additional reconciliations Note: Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 29
Slide 30: Calculation of last twelve months gross and net leverage
Calculation of last twelve months gross and net leverage Note: Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. (1) Beginning in the first quarter of 2022, the Company no longer excluded research and de
Amneal Pharmaceuticals — Q1 2025 Earnings Presentation on 6ix