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Amneal Generics Unit Continues To Grow Following Complex Products Shift

Firm Had Raised Its 2023 Guidance Ahead Of Results Publication

 
• By Chloe Kent

Amneal’s generics portfolio delivered considerable growth during Q3, as a result of its ongoing shift toward complex products and successful new launches.

Amneal sign on its headquarters building in Bridgewater, NJ
Amneal has long been shifting its focus toward complex generics • Source: Shutterstock

Strong performance in complex generics, ongoing biosimilar uptake and successful new product launches all provided a boost to Amneal Pharmaceuticals, Inc.’s off-patent unit during Q3, the company has reported. The generics segment ultimately grew by 12% annually, bringing in $390.8m, compared to $350.2m during Q3 2022.

Key takeaways:

  • Amneal’s generics unit brought in over $390m during the third quarter of 2023, representing 13% annual growth, as a result of the firm’s continued shift toward complex generic products, biosimilar uptake and successful launches of new products

  • This year, the firm is on track for 40 new launches

  • The company is aiming to become one of the top five suppliers of injectable drugs in the US, currently boasting 35 commercial injectables with 25 new launches planned for 2025

  • Amneal’s three biosimilars also continue to see strong uptake, with Alymsys

Ahead of its earnings report, Amneal had raised its 2023 guidance for a second time this year, anticipating annual net revenue between $2.37bn to $2.42bn compared to Q2’s forecast of $2.3bn to $2.4bn

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