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Dec 31, 2024
Amphastar Q4 2024 Earnings Report
Amphastar Pharmaceuticals reported financial results for the three months and full year ended December 31, 2024, with increased net revenues and net income for both periods.
Key Takeaways
Amphastar Pharmaceuticals reported strong financial results for the fourth quarter of 2024, with net revenues increasing to $186.5 million and GAAP net income reaching $38.0 million. The company also exceeded its long-term goal for Primatene MIST® annual sales and saw significant growth in BAQSIMI® factory sales.
Net revenues for Q4 2024 increased to $186.5 million, up from $178.1 million in Q4 2023.
GAAP net income for Q4 2024 was $38.0 million, or $0.74 per diluted share.
Adjusted non-GAAP net income for Q4 2024 was $47.2 million, or $0.92 per diluted share.
Primatene MIST® sales increased by 18% in Q4 2024, and BAQSIMI® sales contributed significantly to product revenues.
Revenue by Segment
Forward Guidance
Amphastar Pharmaceuticals anticipates continued growth in its proprietary pipeline and brands like Primatene MIST® and BAQSIMI® in 2025.
Positive Outlook
- Exceeded long-term goal of achieving $100 million in annual sales for Primatene MIST® in 2024.
- BAQSIMI® showed strong factory sales growth of 12% compared to the fourth quarter of last year.
- Plans to continue developing and growing the proprietary pipeline in 2025.
- Company has four ANDAs filed with the U.S. FDA targeting products with a market size exceeding $2 billion.
- Company is developing multiple proprietary products with injectable and intranasal dosage forms.
Challenges Ahead
- Glucagon sales decreased due to competition and a market shift towards ready-to-use products.
- Epinephrine sales decreased due to new competition for the epinephrine vial product.
- Sales of phytonadione and naloxone decreased due to lower unit volumes and average selling prices.
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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