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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...

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