Amphastar Pharmaceuticals, Inc. · NASDAQ:AMPH
Amphastar Pharmaceuticals — Q2 2026 Earnings Presentation
27 slides from Amphastar Pharmaceuticals's earnings presentation, Aug 6, 2026
Slide 1: Corporate Presentation
Injectables New Molecular Inhalation Peptides Intranasal Proprietary Highly Purified Peptide/Protein Oncology Ophthalmology Biosimilar Rheumatology Interchangeable Corporate Presentation August 2026
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation and the accompanying oral presentation contain forward-looking statements, of Amphastar Pharmaceuticals, Inc. (“Amphastar”, “we”. “our” and that are based on our management’s current expectations and assumptions and on information currently available to m
Slide 3: Company Overview
Company Overview &-Yanerastar 3
Slide 4: Fully Integrated Business Model: One-Stop
Fully Integrated Business Model: One-Stop ■ Extensive in-house product Product Development development capabilities − Advanced technical platforms and analytical instrumentation API / Key − In-house animal studies and Components clinical research team Manufacturing ■ A One-Stop, Vertically ■ Fully I
Slide 5: Three-H Focus: Adjusted Net Income Margin
Three-H Focus Amphastar’s management team operates the Company with a Adjusted Net Income Margin, % clear focus on: 35% ■ High Quality for products ■ High Efficiency for operation and 30% ■ High Technology to drive pipeline development 27.3% 27.4% 25% The 3-H focus results in high net income margin
Slide 6: Leveraging Strategic Vision & Core Strengths
Leveraging Strategic Vision & Core Strengths 6
Slide 7: Pipeline Evolution
Pipeline Evolution Amphastar’s proprietary and biosimilars will represent 85% of the pipeline 2021 Pipeline Projected 2026 Pipeline Generic Proprietary 15% 21% Proprietary 50% Generic 63% Biosimilar 16% Biosimilar 35% 7
Slide 8: Technical Platforms
Technical Platforms Characterization Particle Novel Highly-Purified Engineering Formulation Immunogenicity rDNA Novel Device Peptide/Protein Evaluation Insulin Analogs Multiple peptide/protein BLA NDA The Only FDA products, including Biosimilar approved asthma AMP-028 Interchangeable inhaler availab
Slide 9: R&D and Proprietary Pipeline
R&D and Proprietary Pipeline 9
Slide 10: Focused on R&D Investment
Focused on R&D Investment $369M self-funded R&D investment over five years, fueling proprietary innovation. ■ Strategic focus and emphasis on investment in R&D differentiates us from our competitors, as our focus is on the long-term growth of our company ■ Diverse pipeline development with flexibili
Slide 11: Science-Led, Branded-Ready: Building Capabilities to Win in Proprietary Pharma
Science-Led, Branded-Ready: Building Capabilities to Win in Proprietary Pharma Achieved branded product success & built the platform to repeat it 160+ Demonstrated ability to commercialize branded peptides globally: acquired, integrated and fully R&D BAQSIMI employees assumed global supply PRIMATENE
Slide 12: Proprietary Pipeline
Proprietary Pipeline Program(s) Potential Indication(s) 2026 2027 2028 AMP-101 Phase 1 Study Phase 2/3 Study NDA Intranasal Anaphylaxis Epinephrine AMP-105 HNSCC, HCC, Lymphoma, First-in-class peptide Multiple Myeloma, and other Preclinical: IND-Enabling IND-Filing with potential novel solid tumors
Slide 13: Promising New Peptide Pipelines (NDA, NCE)
Promising New Peptide Pipelines (NDA, NCE) Preclinical Asset Overview US Market Opportunity Key Value Propositions AMP-105 • Potential novel MoA ~60k solid tumor First-in-class peptide with HNSCC, HCC, targeting cell growth and patients a novel mechanism Lymphoma, Multiple metastasis inhibition offe
Slide 14: Promising New Peptide Pipelines (NDA, NCE)
Promising New Peptide Pipelines (NDA, NCE) Preclinical Asset Overview US Market Opportunity Key Value Propositions AMP-109 • Peptide-coupled docetaxel with improved ~91 – 125k NSCLC Improved safety and Pancreatic, patients efficacy profile for Esophageal, bioavailability and Efficacy taxane-based Ga
Slide 15: AMP-109: Encouraging Anti-Tumor Activity for Pancreatic Cancer
AMP-109: Encouraging Anti-Tumor Activity for Pancreatic Cancer On Day-42 (21-day treatment + 21-day observation), the AMP-109 high dose group achieved significant tumor inhibition (inhibition rate = 99.56%), with completed tumor regression / disappearance observed in 9 out of 10 mice. 15
Slide 16: AMP-110: Novel Corticotropin
AMP-110: Novel Corticotropin AMP-110 demonstrated therapeutic potential for treating ocular inflammation in an endotoxin- induced uveitis rat model, showing a marked reduction in inflammation and recovery of inflammation scores comparable to porcine ACTH within 24-48 hours post-dose. P Value 6h 24 h
Slide 17: Generic and Biosimilar Pipeline
Generic and Biosimilar Pipeline 17
Slide 18: Generics & Biosimilars Pipeline
Generics & Biosimilars Pipeline ANDA Type Product Code Current Stage IQVIA Sales* AMP-018 (GLP-1) Commercial launch expected in 2027 +$200 Million Injectable AMP-029 Development +$500 Million** AMP-007 (Ipratropium Bromide) Launched April 2026 +$100 Million Inhalation AMP-017 Planned Filing 1H 2027
Slide 19: Diabetes Portfolio
Diabetes Portfolio Commercialized GLP-1 Pipeline Interchangeable Insulin Pipeline Glucagon Inj. Kit AMP-018 AMP-004 AMP-005 BAQSIMI® Nasal GLP-1 Insulin Recombinant Powder Aspart Human Insulin ANDA ■ BAQSIMI®, the first and only FDA approved glucagon nasal powder ■ The first FDA approved generic Glu
Slide 20: Sales and Marketing
Sales and Marketing 20
Slide 21: Sales and EPS Trend
Sales and EPS Trend Annual Revenue ($M) Annual EPS, Adjusted 4s 40 3.86 3.5 3.0 25 $, Millions 20 $ Per Share 15 10 os oo 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Year Year AMPHASTAR 21 PHARMACEUTICALS
Slide 22: Existing Products Provide Strong Base
Existing Products Provide Strong Base New launches continue diversification of the revenue base % of Total Revenue ($210 MM) % of Total Revenue ($720 MM) 2% 8% 14% 15% 2% 1% 6% 4% 6% 5% 10% 6% 51% 9% 26% 15% 11% 2014 2025 10% ■ Enox. ■ Lidocaine ■ Naloxone ■ Insulin API ■ Enox. ■ Lidocaine ■ Naloxon
Slide 23: BAQSIMI: A Transformative Transaction for Amphastar
BAQSIMI®: A Transformative Transaction for Amphastar Expands into proprietary commercial Rx Enhances Established a intranasal proprietary Rx delivery sales team portfolio Novel intranasal glucagon with IP protection Strengthens branded Expands product international presence in an footprint to 26 und
Slide 24: BAQSIMI Forecast
BAQSIMI® Forecast ■ Sales BAQSIMI® Worldwide Annual Sales − Peak annual sales projected at $250 million to 250 $275 million − Flat to low single-digit growth expected in 2026 200 $166M $185M $153M ■ Selling Expense 150 $139M $-Million − Projected at ~15% of Baqsimi® sales $113M ■ Adjusted EPS(1) 100
Slide 25: Primatene MIST
Primatene MIST® Primatene MIST® Annual Sales ■ Primatene MIST®, a proprietary and patent- 115 $109M protected over-the-counter epinephrine $102M 105 inhalation product 95 $89M ■ The only FDA approved OTC asthma inhaler 85 $84M available $73M 75 $-Million Growth Initiatives: 65 ■ Increased physician
Slide 26: Highlights and Catalysts
Highlights and Catalysts 26
Slide 27: Growth Drivers and Upcoming Milestones
Growth Drivers and Upcoming Milestones Key Growth Drivers in 2026 ■ BAQSIMI® ■ AMP-015 (Teriparatide) - Increased sales footprint - Approved; Launched in Dec 2025 ■ Primatene MIST® ■ AMP-007 (Ipratropium Bromide) - Advertising campaign - Approved in Feb 2026; Launched April 2026 - Increased physicia
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