Earnings call transcript Q1 2023

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Operator

Hello, everyone and welcome to the Amneal Pharmaceuticals First Quarter 2023 Earnings Conference Call. My name is Emily, and I'll be your moderator for today's call. [Operator Instructions]

I will now turn the call over to Amneal's Head of Investor Relations, Tony DiMeo. Please go ahead.

Tony DiMeo

you Amneal's thank earnings quarter and call. morning, for first joining XXXX Good a our release we press Today, issued reporting full results. QX XX, certain announced quarter unaudited results XXXX. April for We the preliminary on first available The release and are press at presentation amneal.com.

statements based are historical that that solely to outlook on facts, presentation regarding forward-looking future are limited not see Please or Statements available not section information made predictions on our but statements Certain Cautionary call management's Statements matters this for including us. that Forward-Looking discussion may is earnings now on factors in the a entitled the and filings performance. SEC that to of impact are our

discuss and presentation. also of measures. US use the our these reconciliations earnings We measures Information GAAP non-GAAP on to are in

and Joe Renda Jason Specialty; Biosciences; call Co-Founders our Daly, Officer. are Patel, Chief CFO; Konidaris, for the and for Generics; leaders Tasos today Andy for Legal and commercial Chirag Chintu Harsher Singh Boyer Co-CEOs; On

I Chirag. will now turn to the call over

Chirag Patel

morning, reduced a $XXX million year Thank of robust and to XXXX Specialty three of EBITDA Tony. business with across very adjusted full QX times revenue XX%. our leverage AvKARE growing segments: We We million affirmed in results quarter Good and top-line growing saw $XXX you, our all first net XX% strong everyone. growth X.X Generics, delivered and guidance.

of story, Taking a portfolio step products. a XXX are we Amneal pharmaceutical newer those global with who the back expanding approximately for to company an are

our by to global Our productivity generics, areas biosimilars XXXX, pipeline injectables, build products R&D significantly we Since strategy of medicines investments business high-growth platform. strategic the on focuses and launching as fueled complex our our new diversified such in of and high-impact specialty. and have

and seen performance QX EBITDA diversification, by XXXX In since we XXXX, are million beyond $XXX continued our long-term result we products financial and have since very accelerating top-line launched deleveraging. we outlook. and sustainable approximately, came continuous a strong performance As of and growth. delivered substantial well-positioned XXXX. in from revenue short, Amneal's strong momentum our of as our profitability XXXX for results XXXX underscored We see accelerating In growth have

briefly we on priorities executing how businesses. across strategic walk now our I'll our through, are key

of segment, continually products generic Generics expanding value our moving the the retail durable since diverse complexity chain and portfolio in XXXX. approximately up XXX First is top-line growth generating of

R&D been business complex Our up strategy products. from complex will forward the year breadth years. great the to we XX pipeline, has to feel from we give our revenue We be products about expect continue with you Generics To differentiate deliberate depth product diversify XX% products deliver which of as continue XXXX. new XX% complex and more we of move expect -- XXXX context, move every about over to XX our to will and launches in towards

been on the and journey continued focusing We products last hard a highest-value nearing been line. expect have four many business. and in growth at work strong these on our generics with years remarkable complex we of has execution the Altogether, finish team the

US. in generics goal business a a five Injectable In top our U.S. player. where today also to to similar global are is Injectables, we be and

have new XXXX. XX over by we institutional Today, expected products, XX launches about with

our portfolio, are by well adding Injectables very strategy capabilities We our executing growth and on expanding key capacity. building

portfolio resilient to shortages. by a a market supply with of be of Our in Injectables ability differentiated commercial chain our supplier a for on centers growing strategy hospitals, a impacted

inspection the fourth largest we today a of end, injectable this U.S. milestone and our that week major FDA share site. successful to To pleased are with

expect remain we by point injectables next for the our in revenue, in up production XXXX. with As We inflection year, XXXX. million over ramp commercial line later track we on this $XXX revenue plan,

RELEUKO. since and penetration month-over-month launch. products and we're of with team both new biosimilars: pleased Since their for our is outlets, as our very executing driving QX, Biosimilars, market pull-through have adding well initial the very customers' first in by doubled in launch substantial Next, ALYMSYS usage our biosimilars commercial of two rates

we market month, which U.S. particular, our our are adoption of we'll referencing Avastin. have FYLNETRA. to bevacizumab our biosimilar, plan product ALYMSYS we seeing the in In And third-biosimilar, strong This biosimilars, oncology launch three is market.

million of strong year this to more year we sales. $XX on and over million, in million Based trajectory, our well on execution of and achieving $XX commercial are target our $XXX next peak way

initial where and to Beyond market vertically additional development are portfolio molecules, we commercialization working with these from overtime. to expand integrated early can biosimilars, the three we to our be

States to player five be Our goal a overtime. biosimilar top United is in the

Internationally, India, we we market. into as and In our presence portfolio brand leveraging geographies. focus of local our diverse FDA-approved are expand on U.S. teams new infrastructure hospital leveraging to are Amneal's we and the expanding products

distribution are Around with of working the rest world, partners. the we

We meaningful profits expect incremental revenue and overtime.

RYTARY in in Next, and again QX. segment, the Unithroid continue in growth grow strong delivering in our to Specialty hypothyroidism, branded in Parkinson's products we

a head are In and of XXth PDUFA-date. closer On therapy our June one towards endocrinology IPXXXX, advancing the to parallel, we impactful step for products. new delivering are patients, Parkinson's new we pipeline CNS as we

expand portfolio, Specialty our million over we by we As in expect revenue, $XXX XXXX.

multiple channels: third dose. government federal unit continued the AvKARE, across segment, we distribution, In momentum see and the

the forward, to will of We durable by distribution expect ongoing continue this expansion double-digit driven deliver going channels. growth the business

we across the increasingly and of new proud products. complex launch Each momentum larger Amneal. incrementally quarter, our portfolio as diverse strong Overall, we are more is

and scale, our key at to business. capabilities footprint We are leveraging operate our across global

levels. to which strategy we to upon on allocation discuss adjusted briefly want and execute, capital profile our will further. look growth Tasos we As our build touch EBITDA sustainable higher drive I

debt balance key our strengthening reducing our been To priority. always sheet and be has clear,

reduced from XXXX. times result, by quarter. is the times X.X end this four leverage net to XXXX our a below of has our times be As to net X.X in goal And leverage

to I'll now over Chintu. hand it

Chintu Patel

Good everyone. Chirag. you, morning, Thank

for so Let many. possible family, healthy the every Amneal me begin by make work day hard thanking who to

are progress forward. our our propel how very excellence operational year R&D productive our in on to touch strong excited seeing start foundation will the organization. company I are We about our strategy engine the to highly strong continues across and and we great

in Starting operations.

efficiency, We are capabilities, excellence on particularly our super focused in quality global and operational injectables. expanding and

Let me each. color on provide more

focused and manufacturing are done we operational driving The over excellent track to XX First, products our on for we operational has job excellence remain as low-cost we And on an efficiencies. in-year move team to achieve efficiency goals. locations.

and our We various are lower other to measures cost expand taking margins.

driving and addition, operational spend, prudent focuses our long-term on automation supporting In growth. efficiency, capital

over standards with warning no from Since has super letters. track has quality successful OAIs over a record the commitment perspective, Second, XXXX XX years. quality inspection Amneal or to a US FDA highest conducted of the maintained and the

from We very this site look our largest successful week the injectable to excited are share US third We commercialize inspection products site. to quarter. in starting this FDA of

across This have cornerstone areas. important lines XX all production immersion. injectables including We syringes, across dosage is of and vials, growth our strategy an capabilities bags prefilled cartridges, now increasing forms, and by capacity various our LVP

we Over over last two capital online. in to two the million energy bring and invested $XXX new years, tremendous have sites injectable

scale ago to for business capacity infrastructure, a expanded player. pipeline clear our As locations, provides a a R&D and a in result, positioned a long-term at years and are we runway we US doubling are the injectable injectables a that with deep few well global we growth. had be manufacturing injectables top four With now five

we representing where to generics new XX injectables, ophthalmics, pipeline. XXXX, higher inhalation new solid This new have which in ANDA FDA with R&D, XX% complex XX% to XX have me that, to products. four XX XX the and deliver months and we representing In we Overall, products our XX products categories, launched generics XX are we oral pipeline on tend this solid non-oral track liquids we first with year. six cycle. Let topical, US continually products XX to and with product includes have life products. products the adding have longer of drive spending profitability Behind move are over non-oral four

track to XX XXX(b)(X) XXX(b)(X). see first-to-market, year ready-to-use Over more first-to-file file cadence our look pipeline XXXX, ANDAs injectables, in to first We as XX one-third we bags injectables. our on this remain two-thirds file continuing In to many and of expected be innovation complex well. are to or of including we as our pending our ANDAs of

recently we submit for our trials shortly. ProAir generic look clinical to and inhalation, ANDA completed In

last Respimat inhalation In of quarter the to partnership programs. shared our new the addition, we platform development for in-license Soft technology Mist

Also, we in MDI ANDAs are progress with of coming the programs our the submit to pleased and additional years. expect

Next, a new few let launches. upcoming me highlight product notable

America. across our priority to review our opioid for ANDA with are currently is First, spray, a FDA. for of generic of Narcan product millions under overdose improve now life-saving nasal last naloxone over-the-counter, quarter, treatment discussed this We believe will excited the very as which people US about access critical we version

a In Xyrem, for is narcolepsy. is growth of in the addition, version the authorized included generic we catalyst launches, are key on July notable key therapy launch the list slide A track of on for an presentation. of our which

programs list We number a have of the this quarter. to added new

Turning to specialty R&D.

pipeline. our We are expanding through portfolio our

on innovation we We appeal advances We see an for as patients. see million as opportunity. peak market up continue Parkinson's IPXXXX to have for IPXXXX that a care, to coming of $XXX June $XXX XX. date our Accordingly, standard PDUFA important IPXXXX, the with a million broad sales

population. therapy IPXXXX, making global so are can we pending addition, for new is licensing opportunities this progress the which international on approval In patient good that reach

bring we to biosimilars, space. excited about in very can this the value Amneal Next are

Our partnership our biosimilars growth a uptake driver. through the opportunity are first portfolio market, key future expand see oncology molecules. seeing we for in tremendous and biosimilars strong as to long-term see We

strategy. as XXXX expansion see we globally, foundational Looking year our for international a

positioned and leverage including around Europe, and in Our other world to well R&D key markets. our portfolio markets emerging team, the products is China rich file

opportunities We registering pursue XX different year, products over market product as we have countries. this emerging selected begun in

across strategy, sustainable summary, is ability Amneal, our dedicated international excellence and to innovation We a expansion. fueling In focused team drive execute growth. to continue drive at our we driving well on operational have which

will Tasos. now hand over it to I

Tasos Konidaris

quarter pleased growing revenue $XXX guidance in total first adjusted EBITDA million Thank with with our EPS brief you, million then year. review adjusted discuss by growing affirmation. XXXX of with very prior first first year and We're $XXX full Chintu. diluted a our line XX%; of quarter allocation, capital results, of $X.XX I'll followed net of XX%; results,

XXXX was million, million portfolio. the new XXXX, $XX rest product $XX launch net X% of prior of million increase Generics the in First revenue was performance stable $XXX in an and of added performance our by or quarter year. and revenue which Strong driven broad versus

the the by in the portfolio. strong very performance, Generics pleased continued to addition In evolution refreshing of our we're

As an growth example, revenue, and XXXX, account bodes well products profitability. launched and Generic for our which now XX% of added for since continued

versus Rytary, up and million XX%; reflects Unithroid, as net of the Specialty commercial up prior year $XX increased well XX% revenue patient QX execution $X or million, as driven substantial which needs. by X% strong

perform of exceedingly year to our continues very well, with business of continued compared the revenue to Our up XX% $XX doing and increasing QX team million, channel. work million We're share, our to new expansion AvKARE of innovative or the our is and providing net AvKARE $XXX prior with products proud distribution customers solutions. in market due

of in in compares gross reflecting XX.X% discontinuation a and to our with timing adjusted margin fixed XXXX of our XX.X% business. expectations products year line prior legacy absorption QX mix handful of was the of overhead of

manufacturing first adjusted efficiencies future increases. launches the low point as margin Our benefit represents quarter from plant will new and quarters gross the product year of operating utilization

and million the increased sales adjusted marketing remaining reflects or expense biosimilar prior investment and strong versus across support of brands operations. by revenue XX% our higher growth million $XXX offset performance the quarter to EBITDA our management tight The in year. First specialty $XX

diluted growth. adjusted interest with line adjusted in prior higher as our of EBITDA was quarter First expense offset $X.XX EPS year,

of that interest our flow cash the well related $XXX receivable to performance a was million perspective, related million accounts our as line which $XX strength the we From by cash announced year. payment high expense includes robust The we year-end top ER driven settlement to continued balance last at flow generated cash of growth. as Opana and XXXX strong collections operating our

capital to allocation. turn our now me Let

leverage. lowered successfully Over key well-run few increased capabilities profitability the we legacy and reduced legal exposures acquired businesses have and years, last

As EBITDA specialty such We about XXXX. to and rebuilt million our million $XXX we substantial as grown annual adjusted in compared to legacy have over a matters. result, million settled in AvKARE; $XXX $XXX injectable pipeline; R&D state-of-the-art new legal invested M&A facilities;

growth to in X.Xx recent line debt these to bottom active come will now generation cash the strong investments market our these of believe reduce investments In many paydown addition XXXX X.Xx further and We is below from by of debt leverage the net most our net as Xx end to XXXX. leverage intent to us, many behind With reduced we of quarter. reduction. prioritize in

we're XXXX, year reaffirming full our guidance For expectations.

segments. driven As we reflects in mid to growth a billion net three business continue by reminder, we revenue all of continued which our growth single-digit across expect billion $X.XXX total XXXX $X.XXX incremental to to sales scale expect launches between in XXXX of and investments million support business. million particularly in $XXX $XXX and new higher-growth includes adjusted the which EBITDA up areas marketing Also and

$X.XX the including $X.XX We and reflects potential B. loan our term refinancing interest which of EPS between adjusted expect expense higher

between cash spend which interest On exclude between announced the cash ER to million million. Opana includes continue expect related $XXX already million side, $XX flow $XXX to million and expense about $XX of $XX mostly capital and XXXX costs we the settlement legal operating million and to

let Chirag. to that me With hand it back

Chirag Patel

pleased In with year. we summary, Thank excellent Tasos. are you, the our of start

near-term with key accelerate a catalysts GX, injectables XXXX. all strong and momentum well will and now complex long-term portfolio biosimilars, IPXXXX. our including over happening expanding for Amneal remains and We diversified growth positioned expect sustainable

well, As profitable remarkably company. business adjusted we of drive delever our growth, our deliver the diversify and we expect continue higher to EBITDA strategy to further levels execute and

Let call me the now to open questions.

Operator

Thank Instructions] first you. the question Barclays. [Operator of Balaji with today Prasad line Please comes ahead. go Our from

Balaji Prasad

that's also the injectables broader I slides, on commercial opportunity injectable so can Chirag, you I'll think start the help me the with. in the where congratulations the current probably details All understand on the market? or facilities,

the the take million scope what shortages, also with a to about for is portfolio? current it to $XXX the remind you contributors any power advantage And Is kind there? stronger size? or me of pricing addressing the or just And are injectable key player

Thanks. And question greater the more million in biosimilars side. front, to lastly as revenues on you how is $XX update biosimilar And the into second U.S.? the give than environment on, the look the XQ? is for Can combined partnership the same on in an in you biosimilars are bring biosimilars

Chirag Patel

Thank you, Balaji.

strategy. Let me with the start injectable

stated, capacity, As our in strategy doing. redundancy that chain supply have expand been and to exactly we we've have that's is our what

now introduce differentiated as soon. focus Triamcinolone. were major We cyclophosphamide, We has our to bags, peptide-based still first the LVP has a market coming -- in the been products products share, such and market

So business. demand towards We're we for strategically that's our have chain for has, building. deep are far complex our built driven certain less we supply very hospitals our with it's going which supply commodity also customers, a security more very how so competition in relationship products products that to and are shortages, Injectable

even hospitals is well, is and it forward, going And more addressing shortage bringing them complex and, more products, built what with more to need relationship clinics be durable, they which as shortage products. products

$XXX be products include by million. from So have continue And grow to markets these about we over And after million international revenues that to also today And that. well. international we $XXX as XXXX. well there will obviously as of do good expect end

the launch relationship do using and had great with community we wholesalers, relationships excited old with excelling The about with the very always to building side, again third new ones as we team done hospitals. two biosimilars the On a in has with launches oncologists commercial all great building the across, one. job job, that

market the access -- We a on force, take marketing as sales access. specialty and from do sales our that have well. We market help

significant with are uptake because accelerating So our million products. so target But and well we're $XX QX, to in that, for that -- next over year million. this reach were way three accelerates, about very we QX $XX these on we to year

which haven't the stated five, run. And be United then we States working the in pipeline we long top on have we are the to the goal a player as announced, in

a the the not highly stay three -- franchise States United we year, valuable be year, the is our in years. one So next we're And biosimilars, game market. for going it's years see XX and for global as just for to here to strategy two

Chintu Patel

point to you. the Balaji. to Just add Good one This Chirag morning, is on injectable. Thank Chintu.

We have XX pending…

Balaji Prasad

morning. Good

Chintu Patel

we And XX, or at with continue production And …ANDAs we line. about, at file now are every XX FDA. scale to XX, year.

complex, device $XXX about all from the XX, million just bags, XX and million, XX these a So $XXX and revenue to of LVP current pending many combination, our dosage to to peptides. you are can in are drug if get -- math, cartridges, differentiated from also do

depot We have of long-acting the some maybe injections.

positioned. are is now which and very manufacturing a we injectable. we our well the And have footprint, redundancy biggest challenge So in in resiliency

we very So our the expansion. live lucrative are international the all And with commercializing Plus now very multiple third be are and excited in think quarter newly going us from I FDA-inspected also areas site. lines gives we'll leverage in our these for this areas.

Balaji Prasad

helpful. That’s Chintu. Thanks,

Operator

from comes with Schott Please JPMorgan. your line question go next open. Our is ahead. Chris Chris,

Chris Schott

Thanks Great. much. very

on you of on just gross gross generic first think just guidance bit about think Maybe there you for this terms margins issues, around how more I a Just think just gross there next of elaborate but exactly don't how toing margin me. and to know importantly little more I few happened onetime margins Can were is year? mentioned two hands a probably the questions trends. some we I you've was the the the to about and balance had gross quarter happening generic years for quarters? my what margins to and what for few should in slow

next of drivers the of bit little the help cadence you good there? growth. few implies think question second seems and of just revenue more obviously think But quarters a year. remainder guidance we And revenue the I very Again, start modest the year as growth to with the was the similar you. go-forward like on quarter. Thank this there, It about a revenue kind a just me the about growth have for

Tasos Konidaris

quarter given can this gross is at fluctuate Yes. as a I morning. Good Tasos. mean Chris, bit. any little Hey, margin know you

kind our to timing I and that license certain just product just of small was we line. production product discontinuations write-off it of mentioned upsell us related as products and For had

are correct. it So XX%. our in XX% lower been was gross fully It And previous we're terms QX in I with step-up quarters. the a in in But going expect around think I full of year I margin from you generic from -- above than a has prior be expectations kind perspective, to slightly expect of line year.

So the gross that's margin. on around

-- take you growth perspective, In Chirag terms a it? of to want from revenue

Chirag Patel

Sure.

meaningful last in this acceleration been fired we've following because rocket and the for about XXXX be to is and adjusted top-line speaking growth now and products sustainable -- you right that been life the you've how to that Chris, Amneal well-positioned and diverse drive EBITDA specialty it's or on right? So is how our how years XXXX, a beyond. And not good two me is company let it so and happening tell we're to relying our few make

Generics products four profitable in in in of have driving number value, States We number durable United three portfolio XXX growth the volume.

XX the to new will products grow only diversity the we at degrew. grew where have. Highly we several everybody in look year -- we company are XX-plus, pipeline R&D next that every innovative And continue XX years. to launching productive We

capabilities are to essential It's shift dosage providing and across Continued complex essential services. we products with forms. business

revenue from be to areas in biosimilars; top $XXX-plus five. expanding injectables product goal came recent and launches; high-growth million

did we excited you before on it portfolio. we're not that Specialty and are. know You again. do are going we know but to I IPXXXX, Growing it

we old And everyday. IR need. RYTARY such you penetrated as which determined years CD-LD, general this talk to even can penetrate. and are being KOLs patient they product we on the and we're neuro beyond huge XX need off-time will take and we and We rolled see to out a XX% a excited only to very bad is technology X% everyday, why everyday many We're strategy that. Parkinson's as and will -- to think a and such out experienced

players. business distribution are there many big growing three double-digit. our AvKARE After not

unit in sizable million-plus. distribution So our in it dose distribute us and a to is excellent products government channels. $XXX business now directly channels This gives niche chance

with we top number network international manufacturing by of On one most have that on markets we in global are that meaningfully made further the of the of us a class, of to entering diversify And products very -- quality. all the sites, top company. our

site nasal base one the in four Ireland. and United we respiratory needed site champions. What liquids site United injectable United in sites us sites, API OSD are providing States, device the three in one sites, spray States, inhalation We the US API in the two States, need for transdermal

but So XXXX. are for to XXXX with well all this positioned this, to all not just year, growth Thank we way the extremely you.

Operator

Amsellem Sandler. question please with ahead. next David, Piper Our David comes from go

David Amsellem

you complex business, there know on that number, from Generics? I concentration? general, thinking -- talk can products contribution the talk interested down you're And But products a there I'm about can On to road? competition we have and outsized should you the Zafemy, how specifically the be an about in this thinking for any Zafemy, that's other are beyond it's to Generics product. are So one. year potential impact in that? product that

And deleveraging. deals? two, question commentary your priority a big for capacity my are go? guess dev How business number you appetite bolt-on M&A. I then helpful And is What's or how and on, guess But of transactions? the on Thanks. I large can

Tasos Konidaris

of back take was Hi, David way does Chirag, other and first if one or kind it example, Tasos. take levothyroxine a us. -- of or portfolio can competition done go for not more have years one in example, big any competition, product I this a can not the for or $XXX whether less number our or make strategic ago the question. It's Zafemy other. for we more Because you difference has the million product is

be right? We a don't million $XX product such Generic any have million the may biggest segment, product. The anymore product $XX in

a that's generic diversified out why, how this we is factor the course over keep Amneal, compared any other business of for So been the there. time. part differentiating of focused of on company kind to has And

night. up us keeps product at So, no one kind of

you is, new not be XX the There's this launched allocation I'll a in as mentioned we new XX give products. already I or difference who earlier so said Whether products piece, view XX money ton before, are or going launched our -- year on launched. I performance. and another XX Chirag thoughtfully, to it's spent we of my the other a not on, right? capital products going Yes, is, to year, that make mean the And as thing products this

the did were growth. that company. acquisitions, of going We affect an to never can Many future specific are areas out to acquisition them fill drive tacking that

result, where right, in interest rates time is the a are you're as being and we us additional M&A think at pay they kind I Chirag, with focusing of So prioritizing this down. the made, point why on this investments hearing more debt any thoughts? have the

Chirag Patel

well. covered not with you XX we we'll segments. that if And Within XXXX GX, problem, products products. have David, have and a Generics, GX multiple way. it. do kind the like big big drag obviously, continue or Tasos, XX the XX. XX call really of business branded you It's And leaky XX across It's to buckets drive leads the a on diversified we would highly a

invested M&A, in four paying years look almost the well. off we million last and $XXX over And is really that

putting R&D, CapEx, external We as new investments. a R&D, internal $XXX combining every site well $XXX to or as almost R&D million invest year putting million biosimilar peptide continue

have enough next for we So years. two three

the cylinders of segments all and on not businesses. But There's big firing anything our about right which So in in. a diversification. right businesses the zoomed position then all is to we're the would loving love thing. much delever, a is debt And now strategic. to lower be amount, all consolidated that any beautiful we have we better We -- of they're from think segments XXXX, a Goal we're link weak different so EBITDA. business now, within increase the the

David Amsellem

Okay. Thank you.

Operator

Securities. next Greg, go ahead. Our comes question Greg Instructions] with [Operator from Fraser Truist please

Greg Fraser

can your IPXXXX refinance clinical generation finalize Thanks that? expectations and folks. the for mentioned Can to you plan potential you expand you loan new for good then, expect on debt? terms do in the planning B? term morning, what on just to work? the give Are the for you that you data And When us slide On early Thank additional support your are And an refinancing? you. efforts update a use.

Chintu Patel

in combined levodopa currently to how GI Carbidopa/levodopa unique very compared release benefit with short throughout novel a life. has what can Good available very morning.So It huge IPXXXX is Hi. absorption this about ER. the we half is of immediate and the especially excited a the patient. formulation problem market with are and is track formulation it how

So clinical on label of goes and but And again, the formulation IR X.X as label final and a compared negotiation. the our of that to done shows remains is dose the that's improvement what data per the everything way in part hours CD/LD.

can it new who and on can therapy take many an good the release patients out and are So many, long on the fluctuations help give which durable immediate starting patient time. carbidopa/levodopa a can can stabilize

X% excited. our offers So still Currently, Rytary are step-up. we going only are patient that's why product over XX% the to of and of patients

on on we the helpful on final to once current time label very the the get label awesome naive So can very, IPXXXX what is therapies for and be market. good patient the and the the new compared and provide them

Tasos Konidaris

for our So become the know term as B you -- come due in two May refinancing doesn't on it's XXXX. right? doesn't loan Greg that up years,

CFO So there in that having said XXXX. is runway, XXXX It's of and right? of the kind plenty I was XXXX,

markets. So happens capital the never lived that you through know to what having

said sometime why a we we be and of refinance to is like as this want extend to constructive this that's term we our kind would So company year. to loan why B

So we're in market. active with conversations the

We have expressed see our have current of B. great to of interest refinancing in of continue term to of them investors many an efforts. in our Love kind loan a number kind

and we'll cost any constructive not any try So be the terms. at at not with but to to market, continue

done in And continue be of end is kind year. of so the it that the to our if getting expectation So focus beyond before it. it goes

Greg Fraser

you. Thank

Operator

turn back the call registered. questions Chirag further for remarks. no to have We I'll closing

Chirag Patel

much. Thank you very

a is out That's We showing businesses. we all bright. driving show-me study. doing. Amneal we've showing and diversified deleveraging. And laser-focused been higher we closing on more. execution are it. It's summarizing future across just and that And a very just We'll be So differentiated EBITDA and know what our are growing is

States. And Thank be extremely the to excited leading X,XXX employees affordable company make much. the American Champion you the we're Amneal All excited. medicine United so very and are for very

Chintu Patel

Thank you.

Operator

our everyone disconnect you us and may your today. you concludes for now This lines. joining Thank call

Amneal Pharmaceuticals (AMRX) 5 May 232023 Q1 Earnings call transcript