Core Insights - Amphastar Pharmaceuticals reported revenue of $174.41 million for the quarter ended June 2025, a decrease of 4.4% year-over-year, with EPS at $0.85 compared to $0.94 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $169.84 million, resulting in a surprise of +2.69%, while the EPS surprised by +19.72% against the consensus estimate of $0.71 [1] Revenue Breakdown - Primatene MIST generated net revenues of $22.88 million, slightly below the average estimate of $25.95 million, reflecting a year-over-year change of +0.1% [4] - Glucagon reported net revenues of $20.6 million, significantly lower than the average estimate of $28.32 million, marking a year-over-year decline of -24.7% [4] - Lidocaine achieved net revenues of $15 million, surpassing the average estimate of $13.14 million, with a year-over-year increase of +17.2% [4] - Epinephrine's net revenues were $16.18 million, falling short of the average estimate of $17.77 million, indicating a year-over-year decrease of -42.1% [4] Stock Performance - Amphastar's shares have returned -7.2% over the past month, contrasting with the Zacks S&P 500 composite's +1.2% change [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential outperformance against the broader market in the near term [3]

Summary of Amphastar Pharmaceuticals (AMPH) 2025 Conference Call Company Overview - Amphastar Pharmaceuticals is undergoing a transition year in 2025, facing competition in its legacy generic business while also having growth opportunities from its pipeline, which includes proprietary brands and generics, particularly Baqsimi [1][2] Core Industry Insights - The company anticipates declining sales for several products in 2025 due to increased competition, particularly in the epinephrine vial and glucagon products [2][3] - Despite initial declines, Amphastar expects sales to stabilize and potentially increase later in the year due to new product launches [3] Regulatory Environment - The FDA's operational changes, including headcount reductions, have not negatively impacted Amphastar's inspection timelines; in fact, the company has experienced efficient interactions with the FDA [5][6] - Amphastar is actively engaged in discussions regarding the administration's investigation into reliance on foreign manufacturing, positioning itself as a U.S.-based manufacturer [9] Product Pipeline and Launches - The company has four products expected to launch in 2025, with a focus on AMP-2 and AMP-7 as key near-term opportunities [10][11] - AMP-2 has faced delays but recent communication with the FDA has improved confidence in its approval timeline [12][13] - AMP-7 received a Complete Response Letter (CRL) but is expected to have a minor issue, with a potential action date in Q3 2025 [40][41] Competitive Landscape - The glucagon kit and epinephrine products are facing competitive pressures, with new entrants impacting sales and pricing [71][72] - Amphastar has maintained a strong supply position in the market, particularly for the epinephrine prefilled syringe, which has been awarded by the FDA [73] Market Dynamics - The company believes that the market for Primatene Mist is unlikely to attract generic competition due to its OTC status and existing patent protections [48][50] - Baqsimi is protected by multiple patents, making it difficult for competitors to enter the market [54][56] Strategic Partnerships - Amphastar has formed a co-promotion agreement with MannKind to enhance sales efforts for Baqsimi, leveraging MannKind's existing sales force [58][61] Financial Outlook - The company is focused on maintaining healthy pricing while acknowledging that market share for certain products may remain niche, estimating less than 25% market share for some products [36][38] - The company is exploring opportunities for business development, particularly in the endocrinology space, while also considering proprietary product expansions [76][77] Capital Allocation - Amphastar has made significant investments in insulin production and is focused on achieving interchangeable status for its insulin products to enhance market access [79][80] Conclusion - Amphastar Pharmaceuticals is navigating a challenging competitive landscape while positioning itself for future growth through strategic product launches, regulatory engagement, and partnerships. The company remains optimistic about its pipeline and market opportunities despite current sales pressures.

Q1 2025 Earnings May 8, 2025 1 This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2025 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Mylan Inc., a Viatris company. Forward Looking Statements This presentation contains "forward-looking statements". These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of ...

Core Insights - Amphastar Pharmaceuticals reported revenue of $170.53 million for the quarter ended March 2025, reflecting a year-over-year decline of 0.8% [1] - The earnings per share (EPS) for the same period was $0.74, down from $1.04 a year ago, with a surprise of +12.12% compared to the consensus estimate of $0.66 [1] - The reported revenue was a surprise of -0.69% against the Zacks Consensus Estimate of $171.71 million [1] Revenue Breakdown - Primatene MIST generated net revenues of $29.05 million, exceeding the average estimate of $27.64 million, representing a year-over-year increase of +20.2% [4] - Glucagon reported net revenues of $20.84 million, slightly above the estimated $20.24 million, but showed a year-over-year decline of -27% [4] - Lidocaine achieved net revenues of $13.64 million, surpassing the average estimate of $13.15 million, with a year-over-year increase of +6.8% [4] - Epinephrine's net revenues were $18.59 million, above the estimated $18.21 million, but reflected a significant year-over-year decline of -28.8% [4] Stock Performance - Amphastar's shares returned +0.5% over the past month, while the Zacks S&P 500 composite increased by +10.6% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]