1. Generics Bulletin
  3. >>Strategy

Patels Working To Build ‘Amneal 2.0’

Launched 15 New Products Since Co-CEOs Returned To Revitalize Business

 
• By Akriti Seth

Amneal reported a 20% drop in sales in the fourth quarter of 2019, primarily due to lower turnover from its generics business. The company’s co-CEOs are trying to revitalize the company and have launched 15 new products since returning midway through last year.

Time_To_Rebuild
Amneal’s co-CEOs work to build Amneal 2.0 • Source: Shutterstock

Amneal Pharmaceuticals says it is in the process of “revitalizing its generics business,” despite reporting sales in the fourth quarter of 2019 that were 20% lower at $397m, of which the Generics segment contributed $300m and Specialty $97m. Full-year 2019 sales were down just 2% at $1.626bn.

Since the return of Chirag and Chintu Patel as co-CEOs last August – in the middle of what the Patels...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Generics Bulletin for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Strategy

More from Business

Room For Improvement? EU Industry Prepares Feedback For SPC Manufacturing Waiver Review

 
• By Dave Wallace

As the European Commission prepares a formal evaluation of the SPC manufacturing waiver, the generics and biosimilars industry is getting ready to provide detailed feedback on what works – and what doesn’t. At Medicines for Europe’s legal affairs conference, delegates heard the latest updates.

Wockhardt Pivots To Biosimilar Insulins Focus As It Confirms US Generics Exit

 
• By Dean Rudge

Wockhardt is exiting the US generics market through voluntary liquidation of its loss-making US subsidiaries to double down on innovation and focus on antibiotics and biosimilar insulins.

Biocon’s Denosumab Biosimilar Approved In The UK As Competition Grows In Europe

 
• By Urtė Fultinavičiūtė

Denosumab biosimilar ranks are filling up in Europe as approvals flood in. Yet, little is known about the launch dates.