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Jun 30, 2021
Amphastar Q2 2021 Earnings Report
Reported net revenues of $101.7 million and GAAP net income of $7.8 million for the second quarter.
Key Takeaways
Amphastar Pharmaceuticals reported a strong second quarter with net revenues of $101.7 million and a GAAP net income of $7.8 million, driven by strong sales of glucagon, Primatene Mist, and epinephrine products.
Net revenues for the second quarter were $101.7 million.
GAAP net income for the second quarter was $7.8 million, or $0.16 per share.
Adjusted non-GAAP net income for the second quarter was $10.6 million, or $0.21 per share.
Continued strong sales of glucagon, Primatene Mist, and epinephrine products contributed to growth.
Revenue by Segment
Forward Guidance
The company expects continued growth driven by glucagon, Primatene Mist®, and epinephrine products, alongside the development and approval of pipeline products.
Positive Outlook
- Continued success of nationwide television, radio, and digital marketing campaign for Primatene Mist®.
- Increase in distribution channels for Primatene Mist® throughout 2020 and 2021.
- Launch of Glucagon for injection emergency kit in the first quarter of 2021.
- Increased Lidocaine and epinephrine sales due to higher demand from a market shortage.
- Lower interest expense due to new credit agreement.
Challenges Ahead
- Naloxone sales decreased due to lower average selling price resulting from increased competition.
- Other finished pharmaceutical product sales decreased due to lower demand, largely due to competitors returning to their normal distribution levels.
- Increased cost for Heparin, which is used as the starting material for enoxaparin
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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