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Amneal’s Shares Slump On Slashed Earnings Outlook and Cost-Cutting Plan

 
• By Aidan Fry

Investors have downgraded their valuation of Amneal after the US firm blamed a highly competitive local generics market for slashing its earnings forecast. To improve its competitiveness, Amneal is planning to cut 550 jobs and close two plants.  

Cutting The Costs/ Inflation Comes Back - Image
Amneal is looking to cut operating costs as if faces intense competition in the US generics arena • Source: Shutterstock

Amneal’s share price slumped by more than a third on 10 July after the company slashed its earnings forecast and unveiled the outline of a broad-ranging restructuring plan aimed at cutting around $50m per year from the group’s cost base. This will include 550 job losses and closure of two US facilities.

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