AMRX - Earnings call transcript Q3 2024 | Amneal Pharmaceuticals, Inc.

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Operator

Good morning, and welcome to the Amneal Pharmaceuticals Third Quarter 2024 Earnings Call.

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

Anthony DiMeo

Good morning, and thank you for joining Amneal Pharmaceuticals' Third Quarter 2024 Earnings Call.

Today, we issued a press release reporting Q3 results. and available release amneal.com. press earnings presentation at are The predictions matters this not limited Certain now that available or that on on regarding based to, forward-looking that solely are outlook to not statements made is but call are information statements including, historical management's us. are facts,

Cautionary on performance. Statements the factors for see Please Statements that section entitled Forward-Looking may future impact

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

are Chintu Joe now Andy Chief Patel, today and co-CEOs, Chirag Chirag. Konidaris, CFO; leaders, I and hand Daly, call commercial Tasos over to Boyer the On will and call Legal Officer. Jason Renda co-Founders the our Generics; for Specialty;

Chirag Patel

our results. strong Thank QX We're Tony. you, morning about to Good everyone. talk excited to

obesity drive with excellent Our took growth recent disease. and and our for space to of an actions QX solidify was long-term metabolic continue collaboration sustainable disease launch we growth Metsera CREXONT profile. Parkinson's our and to as entry quarter into

I'll and to First, GLP-X for built we the of innovative a injectable is stage And poised medicines scale. peptides pipeline announced a have of at prime Metsera, into entry with new, medicines. these is market space. high-quality Metsera and innovation global with rich collaboration and obesity access class the of next weight They therapies. The biotech to for company loss are clinical novel therapies. of our deliver expanding purpose discuss advancing generation proprietary recently library oral

and Asia, the select milestone United markets, Metsera's been operational including leader. certain as and supplier States, the and collaboration and in to Southeast license India, capabilities. Middle for Africa other and an capabilities global has preferred countries emerging is industry commercialize Metsera and products East. the markets in a and in granted complementary discovery Europe underscores our This of our high-quality Metsera's an expertise to is strength reputation manufacturing important drug Amneal Amneal is Amneal's

We will in build to and world-class leverage initiative. support manufacturing X our new existing infrastructure facilities India the

new value rapidly vector reach Amneal innovation deep in is is and our a high-quality Importantly, by for estimated this complex for of in strategy, multiple a creates extension billion $XXX a logical our avenues record It with expertise collaboration XXXX. over track high-growth a of growing at pharmaceutical space to scale. manufacturing that creation delivering

Chintu recent care Second, patients the of launch is advances with good tremendous of treatment the less a a I CREXONT. which the standard important on This met dosing. of we and achievement an recently, opinion and are for leaders excitement with excited with Society new time for and and Parkinson's providing incredibly frequent CREXONT company. for innovative Movement is key duration there about at longer the disease, Disorder Congress prescribers

over expertise working years off a had a deep we as organization, an Parkinson's strong space launch As is Rytary. commercialized we have XX to for within The start. CREXONT

confident further potential ability branded are the our including time. segment specialty We over opportunities our add expand in to to

driving are expand medicines that generic we growth. which continued new segment, affordable our the in with Next, continue business, to portfolio is products

Year-to-date, revenue XX%. growth is

growth retail, the been generics. particularly first States The United has complex generic XXXX. innovation area and Amneal is since therapy #X complex in

oral than or has new revenue year. year. a diversification over products on tremendous in of driven decreasing more company's XX launched, have XXXX each quarter total with from less this We average, This generics half solid to

to to will Amneal foundational meaningful is company. continue for drive and business medicines the affordable Our value

area growth second The injectables. is

pharmacy steps. can year. launches medication of expected by with over XX we ready-to-use each XX efficiencies first products products, (b)(X) to eliminating are new improve Our portfolio continue differentiated, XX preparation launched that XXXX, In our expand which hospital over solution

and we injectables injectable is the addressing other Amneal XX on. working shortage head help proactively Amneal currently provides which Overall, disruptions, are Today, list, to U.S. face supply to market on market alleviate continues shortages. the

The first commercial strong our foundation third we with biosimilars, built is a affordable in similars. medicines X have area growth

by by This planted wave as an plus all product brand United allergy. step is biosimilar Also, billion QX, the launch biosimilars affordable have biologics. about of we therapeutic. expands our Xolair, that of In the X value the XX% name another long-term seeds roughly we the omalizumab XXXX. important our for more in are growth oncology in-licensing by $X took pipeline, global high-value for States pharmaceuticals to beyond in Overall, on to expected upcoming market in-licensing portfolio a to biosimilars medicines LOEs are pipeline next

to $XX billion estimated sales market $X a $XX is XXXX manufacturer's from to billion billion U.S. perspective. today the to Accordingly, by grow from $X to biosimilar billion net

value New biosimilars enhanced patients. affordability for and excess provide

are building key and as vector over we portfolio be time biosimilars integrated significant run. in will vertically see growth Amneal We biosimilar as a the for a long

markets, long-term area in a building products. is to other expansion we for us. a partners we growth our with select registering start International are of Next, products In In customized portfolio supplying QX. India, are

expect adding $XXX will to $XX We million revenues XXXX. by International be million

double-digit all we continues Finally, $XXX million over expect X to distribution And distribution, healthcare in dose. government care the in health growth, by driven unit channels, revenue now deliver XXXX. business and

for drive to continued could Overall, providers Amneal that company essential a high-quality, pharmaceutical Today, well access affordable diversified provides more medicines we payers. and and Amneal excited be patients, growth. with not global positioned how has to

strategically will our and growth. I business pass Chintu. purposefully to now have and added new We for it expanded vectors

Chintu Patel

operations, Chirag, strengths day Amneal you, every continues Thank family will to capabilities our wakes which passion you for healthy and and new a who thank everyone. to the up and is how vast you our I will the in energy global and I make possible. with utilize core share morning, in Amneal. growth innovation then Amneal Good experience where vector we to will GLP-X space, pull thrive discuss

Quality operations, at in the we everything of do. First, is center

organization, an we infrastructure. inspection to and our operations our Across are we and at record, digitization world-class our technologies multiple advance last in track industry-leading global the over automation, investing Our global quality quarter. had sites have AI successful

excellence, development operational next improvements of and skill enable our driving generation are Kaizen capabilities to cost growth. and programs We

competitive robust chain U.S. working the for as particularly are shortages, customer us supply the operational be remains in and high us remind drug the and storms see fulfillment a We key part advantages recent injectables to hard excellence, challenge, U.S. we the levels for a as supply of of solution.

CREXONT in a we September, remarkable Second, which which treatment disease, innovation, Parkinson's is launched patients. in will many for benefit new

unique patients action on" frequent less formulation more that time is hearing onset their novel "good and daily to and We designed CREXONT lives. to deliver is Its provide are with of rapid testimonies efficacy from extended dosing. changing

therapy working pleased are this Parkinson's quickly new space, early and to bring to are patients As a leader in the with adoption. we

Bromide. R&D This collaboration program specialty pretreatment on, disclosed is Another approval U.S. prior the in release against by not was working government but personnel. we protection for developed military have [indiscernible] extended daily and and close once for is product used Somanurgos other with had agents been to chemical Pyridostigmine

Our application drug new was approved October. in

which episodes. DHE migraine these make having room Our cluster auto patients R&D headache, for injector save can next to for very specialty is during and painful program emergency visits

are to a next put track once which of would in in position launch QX, We NDA response year for QX good us approved. in on our

complex so are year, generic our X far will launches to launch With again in track we product on portfolio. this I new touch Next, over on XX launches XXXX.

are lower and programs continue at our faster XX% complex organization, of on to of line to cadence XX this Within enhanced time solids. solids innovation our pending have develop R&D recharge development, new cost. in non-oral approval, with we products and products capabilities which XX expect We and pipeline non-oral X% efficiency more of

specialty. As a cell result, for investment on first cancer, this over we IV launched associated Injectables, so non-small biosimilars have new bags. oncology are towards for and more external lung nausea R&D [indiscernible] XX allocating year, In including our in ready-to-use the are with potassium especially treatment, products phosphate we and products primarily treatment time, XXX(b)(X) far

based portfolio We pipeline built XX have developed we with XX(b)X development. injectable and in have feedback, of curated our on [indiscernible] stakeholder XXX(b)(X) over presentations injectables injectable

in Our drug complex and R&D device liposomes programs to microspheres, pipeline other including advance our combination. injectable continue

Amneal. inhalation new vector see we for a Next, ahead as growth

the years next will several We have of Ireland utilize that launches our planned manufacturing high-value and ready a series approved sites. over

powdered programs We the platform. have categories, and device inhalers inhalation the including dry metadoze [indiscernible] across and major

with approval and ahead. the more about first soon many to in our excited pipeline years pending our are We inhalation product come inhalation

Next, in Building expanding focused biosimilar portfolio have we products, candidate. on commercial we X first on our are in-licensed biosimilars, our the strategically success pipeline of

We are QX. for our in and X BLAs filing denosumab for XGEVA biosimilars Prolia

Next, we and products expect onboard prefilled injected in to file auto-injector QX. the [indiscernible]

the omalizumab biosimilar a file After by Xolair of expect for that, BLA XXXX. end we the for to

in growth our We very our vertically excited partners in as to the and many We a will including key Internationally, developed emerging products pipeline registering of biosimilar over years. about vector as biosimilars place emerging portfolio look more add to key Europe remain we distribution biologic markets, time. and face globally, coming for be LOE molecules to integrated in markets. have expand products and

International remains opportunities key a we at significant for area of us growth Amneal ahead. focus to as look expansion

me product. infrastructure GLP-X existing and and capabilities entry Today, peptides has turn Let for now our into Amneal to space. the finished developing

preferred of drug of for and of for development build X the provide its collaboration, One activities other supplier. formulation As and state-of-the-art Metsera volumes Metsera's will substance new as products. facility CMC the part we and capability producing GLP-X serve global expertise will producing advanced for manufacturing fill second finish peptite sterile be Amneal will also finished manufacturing facilities. high infrastructure and

As record ahead, pharmaceuticals developing to category. our and we leading complex in fast new look and track growth we utilize innovation capabilities and this plan manufacturing quality operational in

in In as have diversification summary, plan. growth. Since strategy when returned co-CEOs executed I for we out Chirag and laid that on XXXX, then, and a we

biosimilars, innovation. medicine, purpose-driven access GLP-Xs areas distribution We international business. mission and complex Amneal access through provide our specialty affordable key in to generics is on extending a company Today, are growing deeply now and branded, of to and injectables,

years. years, on celebrate focused success X the we next these and last As are we for X our excited so over execution

I it Tasos. over will pass to now

Anastasios Konidaris

EBITDA priorities. year-to-date our across segments. to very grew and third capital then discuss and debt results, with cash first quarter, to adjusted to you, We're pleased XX% on strong Chintu, quarter and Thank allocation million morning, continued another quarter revenue reduction. and generation everyone. third robust and all report $XXX . I'll good growth continued our growth, the revenues move terrific business In with cars X

was product driven our Our call of provide payers what the to affordable our generics, exceptional which patients. by and strength terrific X% improve customers, help new shortages This performance medicines in value launches, $XXX also and turn grew million. business to we

$XX New sustainable launched value contributed advantages, XXXX superb to creation supplier of generated Amneal's innovation, $XX R&D competitive million driving consistency to quality revenue. XXXX continued in and and QX products track diversification. revenue record growth and million biosimilars, and in also

segment, to XX% by products. $XXX revenues Specialty where Let move our branded grew driven to our me now million,

inclusive million $XX revenue due $XX post indicators million launch, early delivered new of Our Rytary and physician revenue with as testimony we growth. insurance $X month providers their pleased patient uptake, are Parkinson's in was includes this interested trends, to which and quarterly stacking. franchise making ONGENTYS One revenue initial of the now CREXONT, prescription and CREXONT's well in to available commercial patients. QX as contributed therapy million the to

third growth quarter, grew across the $XXX distribution both the XX% continued business outcare reflecting our In channels. million, to government and

in continued points last as are and by XX same as this compared was and launches strong in product performance. new quarter basis efficiencies the key of drivers and our costs strong well product New team's margin way. its reflecting gross of the third improve sustainable efforts launches Amneal's team the quarter our XX% to a overall year, execution up

P&L. was of leverage we to million $XXX and Xolair down growth, that robust announced includes QX to expense EBITDA proposed related revenue SG&A $XX licensing the reflects a July. biosimilar the million last Moving adjusted

growth higher expense. EBITDA QX adjusted an From XX%. approximately $X.XX in adjusted adjusted of payment, EBITDA offset milestone this by QX EPS as EPS was was declined perspective, Excluding $X.XX interest

as of pleased million Looking billion of the EBITDA up teams. is by first R&D company many in by the execution $X.X of of are Total our our performance business during quality thoughtfully high-growth come. years segments contributed for at growth, up commercial have months all and XX% company build teams this $XXX XX%. revenues we durable are X a we all we increased our the adjusted noting our worth to to year, and that while investments have It's

cash now balance on Turning flow sheet. the to

at and compared the X strong and leverage down Consequently, million and $XXX Our delevering. of we performance reduced September to X.Xx paid generation the quarters, into debt is and our financial gross X.Xx cash in higher over translating December last end have net to XXXX. in discipline continued XXXX,

in and X report year Furthermore, diversify the sustainable We expect continue to we I'm From leverage to original continue can this business drive to at we inhalation. pleased capital allocation about few to such drive investments expect to to continue further delevering as ahead Xx, we perspective, our and that our a to of us prioritize and investments injectables further biosimilars, making target, Xx areas of net year a next years. finish now growth. in towards targeted intend Parkinson's,

properly Within excited towards while R&D, collaboration, its spend growth about reallocating higher as GLP-X very Chintu growth mentioned our given yearly potential we productivity maintaining are the We're R&D recent pipeline. of and our areas consistent our further support financial actions cash we're strategic profile. to focused on delivering ability taking solidify to well growth. long-term In our our it within summary, performance, near-term flow while laser

back turn to now Chirag. call me the Let

Chirag Patel

Tasos. you, Thank

each is vision strategic bold Our and for more Amneal day. a reality more becoming

business business. the to XXXX. products we years past In In XXXX, journey, X access the expanding shifted adding to in back to transforming generics, focus products. in portfolio new we retail started the the our by we capacity. healthcare Over acquired Then starting focused drive and diversifying capabilities distribution we complex on injectable new channels business products, to our our XXXX, and of add

we QX pharmaceutical we for Internationally, there. launch we our in growth. are strong entry company. have a from significant space of for we biosimilars a as and further growth, launched strategy, are sustainable long-term GLP-X foundation as our our leading the our The and CREXONT XXXX, and into diversify Amneal global very diversified In initial pipeline built building first drive company, milestones execute laid

Q&A, for call the open now Let's Tony?

Operator

Instructions] [Operator

Amsellem from Sandler. first question Piper David from comes The

David Amsellem

for regarding I are few CREXONT. loss you the days context talk with you about a But regarding the I start eventual Part we just access. particularly should think thinking reimbursement And to And can have that exclusivity landscape, about adoption, early of how the wanted know So and rollout. of how in D about Rytary. the

that's number one. So

sense that your talked the is for injectables respect to X mix And business? products, complex a you business. to to how shortage shortage will topline on over also build with products? you've about of part of evolve you've mix think that the you Trying mix and leaned get know more products injectable more better products. Number into I and complex time as continue do the

a product-specific intranasal believe on lastly, helpful. I you've [indiscernible] then developing And question. that updates product. been epinephrine Any an would be

Chirag Patel

Good morning, David.

a to start. great So CREXONT, off

excess like CREXONT, marketing with been how is are just doing. the initial great months pleasantly so coverage, surprised actually good ourselves far, We a by few it's product rest payers. It's and is CREXONT and [indiscernible] discussion of the

expect doing. coverage what is get than more We because to product Rytary

question. So that's to first the answer your

and to LOE is of because XXXX, not much this or market people X, We're should all should expanding taking from going -- Rytary, the an is qualified we're impact at who which of pretty be the market. all much CDLD converting August have IR.

patient. naive it. the for why on them they're Parkinson's is should other There all of not have from available most and advanced or of excuse We all product patient [indiscernible] the be Rytary to labeling which small the is CREXONT, today portion no

this going we're for we're a market massive product. for So share

And is feedback receiving affordability, it have pricing we extensive we're access. we the market work expected we up set for this properly, to an why are had and the done

growth continue So for beyond no of the August company other obviously, CREXONT lose we'll LOE, and the me. growth for we LOE tremendous on and growth drivers XXXX drive impact and ONGENTYS to X, in but

a in received FDA-approved few which but launch to both Your we're really FDA's much injectable, well wants Go and We products, color recently, of ahead, into just also GMP products complex, more pretty our other but crosshairs use rather [indiscernible] it. we're and market. It's hand the are my and to it had everybody it a doing gets second has we shortages first converting continue for I'll products. complex potestium to the always shed question And on working compounded reliability. bit product and Chintu more, been than the the brother, both prospect compounded the on Brother. on little can provide

Chintu Patel

we are our this. excited So we the on and X in and creating infrastructure last with years injectables, spent the pipeline very over time

products of very get And and a when work good the do request, shortage proactively always are we FDA we a shortages. have to of the predict, mix we shortages and group we drug as with product. capabilities working drug very are So have capacity but complex eye mix and hard we keep to the and the on

shortage. We and are alleviate help it when the very can we purpose driven shortages comes to how

balanced portfolio of different categories So injectable. our in is nicely very

bags. LBB have We

of a the Some on PFS, we like Propofol. always we have we the immersion capacity, a shortage vial goes have like and them line product capabilities, excess have

plan to have get capacity. We

able and happen. to be as shortage it to we'll cater So the when

We to or in next also portfolio in receive complex quarter product. for our so our good expect very we microsphere have microspheres, a and first approval

suspension-based have liposomal, the product. we We have

perspective, more think and very it's the we and a will the So right-sized drive on have course, I mixed revenue complex infrastructure. of a lot revenue a topline shortage a than

the So have good capabilities injectors. mix, the of scientific auto complex and developing announced that's next combination even of we device and drug we GLP-X as injectable with generation a very

So portfolio. very balanced nicely

have XX FDA. so pending about approvals or We at

So are each percentage our mix. very say known. hard one injectable the is to a because Very shortages not good from

very about This well. our drug. that is doing are the Regarding own autoinjector is emergency [indiscernible], our really [indiscernible] product, we excited

it's growing. dose the the have nasal also, for not challenges are It's parents. route unique because our the business. to spray. We on we any NAV expecting [indiscernible] a current capabilities Actually, of emergency a preferred

expect seeing as current are going any impact our to So impact forward don't we product. not we or on of any today, see

unit our into plan we uptake in And more epinephrine. going not any market. forward the anything or of major will far, greater [indiscernible] a highlight on And dose provide seen we have

Operator

question next Prasad. The from is Balaji

Balaji Prasad

Metsa the on congratulations deal. firstly, And

amnio the to it, have Looking it redefine term. to longer at the seems potential

a a years Can back provide more deal? more terms balance other the How converting sinemet maybe follow-up CapEx Thanks. maybe let Crest. on one. liter on the . first sheet financials and goals That's incremental with the you from the or you and for us detail my you for What longer-term -- this have Could does bit deal. that. mean in over the existing from Klixon drugs, coming feedback that question So emerged Amneal on around competition Two, to now. bit describe this in and protocol has products of a to the with the discuss also is product

Chirag Patel

Metsa and it generation the partnership you're -- in very of puts -- biologics is next next And a line. us of similar So well. deal peptides us is expect growth as and more into and announcement correct, to do it's level in this

we metabolic do all, to them. capacity then partnership players beyond or disease Metsa more which to obesity, supply approach starting Lilly Roche create no continue of capabilities a CMO -- or even with work first So and to do on based product, massive peptides is like and big for

So have it, -- entry that how ready is we for capacity. the with up. to mean, set allows strategically I GX And why it get it on it's power big very of obviously top us

really XX injectables. could be are globally it but that at could being there filers, all supply setting So is product. what on who -- both a we high-quality up, And we're

CapEx providing budgets, big On over and Metsera as deal. next the so to not well to we our $XXX million. financial towards about so terms, net million $XXX our $XX is X is the within a expense years disclosed, X the million

[indiscernible]

obviously, forward In And the so future, produced United we will well. like the injectables, as oral some why going always to United which the in States first be both and we in India. the portion this is phase do in will are States, putting

the as same much It's results pump as use versus for now. the explained, WACC a way be can even is CREXONT, patient novel. right use, a and CREXONT patient with that the every the very is more that it advanced daily patient the could too continuous -- in just is this. the more advanced to all best compete though doesn't launch, $XXX,XXX at on naive Moving to I CREXONT class

going to is to on have so [indiscernible] big We're have so way strategy Rytary whole if we really marketing just What's And and why have market reach the the product of access. product patients. we it. wider far affordability is patients. patients. to we this Amneal doesn't us. of that's set market our many you universe this seen that matter can in States is the of the to to add? Joe, it that the philosophy a what the use business to that's after we're because naive And it our all [indiscernible] from because would number up cannot of what United does So it And and like we innovation reach wanted launched how and

Daniel Busby

just really that key that to strategy to The as question product #X for the we Parkinson's accessibility around were the we're the us are would CREXONT space. one said Chirag our is from of And Balaji, aspects allows the always about, there very the the Yes. add to that ensuring recon. goal was addition to we X thanks excited and with and what around Parkinson's been response has absolutely this company do One I in fact saw we're patients our that. pleased to candidate. that question. they got your had demonstrate

or the patient the whether [indiscernible] differentiator to a be patient naive as CDLD a good providers strokes a market. of of other different or been And that and ensuring or critical the is products aspect news saw care response and easy CREXONT clinically question second part for second, is on differential to convert, the absolutely what health in your than -- point. in very they is we've their CREXONT a the of were Rytary the feedback kind dosage providers that which the clinical dosing as our HCPs around and as The which health heard conversion was our see feedback it patient care them to saw goes a HCPs has strategy,

component third earlier tapered the asked we're which we're had from And which the that got trend broader the pleased was in We've payers ensuring than comparable with we're Rytary, some then conversations access XX% last not saw so to deals, looks which about With year. like now -- our be what the that strategy, strategy very of by at least by go we is more, had was to average but was next XX% response market access. to And national few CREXONT a we David, access question, you get we'll the are that, not a with on next we with and deals coverage probably already year. able looking with the far. if

So the access response from the positive. payers has also been very

the So hopefully, well. some to as that CREXONT gets of had about questions you

Balaji Prasad

helpful. I discussed a America year's CEO If add multiple question past, making firesides Chirag, panel just in follow-up very That's at even here. could AM. last you in on the

administration you strategy and coming, So in -- implications an of . could with over generic coming the the how America-centric -- influence years? that would biosimilars change the manufacturing talk growth for anneals about can

Chirag Patel

Thanks, Yes. Balaji.

and kind happens XX and or like or antibiotics. House both White we've being, completely receptive. I So of issues I sides The Congress friends, of by we to could the will are And chain. some products in need multiple that have mean onshoring the build in an issue and having to, supplying what is resilient locations, as case never mean cases a because hard in be a shoring disaster, aisle hopefully been resilient emergencies, advocating country national the I XX wars we it supply pandemics in would we countries, -- critical of importing or sometimes law have of

America, anybody finished for agenda market for to the it products. supply the in Medicare for to giving and API these portion, about passed, plants medicines. for law, We XX% creates invest so legislatively have which these dosage market starting open a products material XX% It's it's those to those and advanced share, Medicare reimbursement is critical different build the

done we that So think I next get question. this time.

Operator

Leszek next Securities. question The Truist from is Sulewski from

Leszek Sulewski

just partnership. to want Metsera on focus the GLP-X I

current So injectable awareness is approached what us, capability. raised partnerships for remind by sterile volume brands has your how would clinical-stage -- to what then is manufacturing from your to versus of peptides? you that And that as anticipate And other or capture allocated announcement, similar Lilly the been Meter's after this peptide new and capacity much additional Novo mentioned. biotechs facilities? would other anticipate you percentage you capacity And to product increased of you capacity be have including

to lastly, path is response you your Also, space? there GLP-Xs come blockbuster some capture of be a of the generic the expect manufacturing then from these what competitors will of the do LOE? for side in some And you

Chirag Patel

me our start with let capacity. So current

and yes, as been approached XX the which the to PFS cartridges, PFS X our that's assembly by full million increase On well. would years, our a use big X XX capacity the and small we can to API would guys cartridge, combination we've so or million drug substance few of in to of with phase peptides make for next X today. -- of on for we so, -- chooses next client up of years very X as make years the We to units, a turns capacity-wise. API capacity

So affordable countries, drug them will introduce obviously to can help how globally them with work we and access other access. we and create important to we while see very these

the we we be capacity if will another built need in add well capacity to opportunity there. we then already just time, as XXX site. -- And that API, happens, can we extending and capabilities the And with far we So have expand GX will as be to because would if as all at whenever have to because the and is that will we concerned, LOE infrastructure products have the on we supply us. million have we ready GX units, full

driven the metabolic that space. the and expand all enzyme So that is strategy peptides to other for peptides obesity within us in play and could or as GLP-X well. to further products

Leszek Sulewski

on anything there out lastly competitors' yet? seen just you the response, And have

Chirag Patel

partnership, here. work No. is trusted we're them a partnership CDMO beyond very products, year a codeveloping we're partnership clinical a it's took No. CMC, unique and -- helping it old and a us the This knowing very production. doing and on

follow and this both anybody haven't we unique, doing is this and that. so But else formulation the model. people auto So enhancement side, may seen I'm -- injectable very sure

Operator

The from next question is from JPMorgan. Schott Chris

Christopher Schott

the progress the business. all Congrats on

Maybe me. behind on growing, deals capabilities just you just for for for Can the landscape assets. seems get X the more And about you investing business here? development. Just business is it talk first like

a maybe little you're Just biosimilars. in? stage bit more most of second on interested assets color and the kind of question, The size

Just competitive the market? thinking landscape opportunity talk about about that little bit and a in you're

just can then we any XXXX, pushes just terms on about you in the just next for thinking and And color finally, year? think of outlook pulls about initial as provide

Chirag Patel

Thank you, Chris.

as front, we the delever. development So to business to we continue want obviously --

we generate that have $XXX-plus but in cash mind, million flow. we do So operating

we have So we opportunities other products, and and deals Amneal's down specialty Xs many the limited areas: capabilities specialty R&D is focused and certain because have but and X,XXX cash, clinical, we scientists would limited X assets. there additions leverage unique the capabilities, very, concerned. -- And are and as capabilities we getting that adding very on at it's budget all we smart and are looking and is the do see far using as we're be into very the could on partnership Amneal's have so CMC and a we

we be we touch We're It have not far, the CNS new assets. We need key of been same the it. branded specialty the But we've is -- guys. of we're a could well community, because going focus as oncology products on products focused endocrinology. are Oncology a now biosimilars, and there introduce competing big take not in some why within whole of them our in same Onco on the so will we with opportunities. products, for the products, the so commercial specialty pipeline hear points so have

doing those and our pipeline. So you see deals us bringing into specialty those will

be The second biosimilar. would

compete completely senders, with and Celltrion, to We Amgen. would head-on integrate love

It revenue X, liter want market. -- share within -- this So expanding of are which add programs, so full like a have we'll manufacturing XX,XXX, the a another so much only scale. years, development over capacity, on most -- we at -- as see X XX,XXX, XX,XXX XX to X, full have keep -- We we a is would Biles. of capacity X manufacturing competitors between. already done like X, We pretty partnership R&D scale big and would and capacity,

little could billion broad range I'm manufactures be XX, giving for a sales. $XX to It's net business I XX. $XX billion

or large. for is ready to see And there role couple is a sit global But -- these integrated are for companies biosimilars. products so that demand leading or And there huge play you Sandoz more among company take leadership show a we globally. the Agoteltion a eTail, There's and will Biocon, there the with play. can very So it's X up.

So the the coming rest it assets. from a revenue which XX% XX% will these of of from for could partner split world, U.S., have

we 'XX. in great the So business, biosimilar It's we is it keeping BD integration such a is double of that side a opportunity it's California, naloxone, and into with for key like as love are direct but priority certain great expand consumer digits, distribution we government business. government. We are Heavcare growth on business distribution hospitals partnership there. directly. to distributing growing and huge

for to Amneal a built our distribution, niche it is may to have time. do long in last other we which us field allows as a So direct competitors not

have and based months, XX, it IP Piscataway, and we we -- our a believe, X, Howard launch XX -- the New second manufacturing approval we Tether And IP Kashi. the we or then Xolair, year, at to Jersey. than filed product, expect with but get in next at And stage biosimilar expect competitors the a has, partner much us. January would doing this pending known in X networks it's I we on are... are in is to competitors, the in settlement way file on Seltrion the be And pretty half or

Chintu Patel

positioned Chris, on they going the newly just both launched add on auto-injector the while the are have device approval, trends, Xolair, the auto-injector, to partner to uniquely would -- XXX so Zola plus entire even strength, XXX, the our different and of enjoy all up XXX the trends. with is wanted PFS also differentiated range

strong a very and both. -- So position, IP

frame. be us will competitors our . initial that uniquely than in So differentiate time

Chirag Patel

I'll Yes. very we XX And pass are to for and Tassos looks push XX. very Chris, strong. excited pools, it about but

Anastasios Konidaris

was view XXXX increase then early question the into and So detractors. or it I think pulls

say couple of I'll things. So a

end So year. of year. we about at for great in we'll give you February, guidance feel but the next next

is company how team thinking growth, the the management Our for business. about built that's and is

of not financial turnaround, this for going years growth kind engineering throughout years. after and driven the have COVID spectacular X stop We and X we're to last

of line, That's the When number headwinds another and from and top cash expect kind we obvious year, is growth LOE. kind think is point next of Rytary headwind one. year the we So generation. both bottom of about line tailwinds the

Now the vast by launch majority compensated of that the will be of exam.

So that's kind of point number one.

of LOE. bump, think more I that the becomes right speed So a

our addition, will grow. biosimilars In to continue

the grow when injectable And interest will last X, been continue same it -- on the we'll those talking are think been the continue X substantially year growth expense. the products And at for time, of to we just that cash about Our we've generation, beyond. about and clinical next institutional the years. Netcare, has -- you business,

would think reflective year, will reduced a about debt. about most as $XX likely, fact of expect Number of we we million. of this million we have $XXX paid gross function interest X down year, things. just and about expense is that's next So X

$XXX gross another We million, $XX QX. and debt we million million, pay of in have paid $XX already probably will

of carrying as debt. of we're slowly essentially then So interest gross are million a couple rates beginning interest know, of less And creep to down. you hundred dollars

another lose So health that Kraken on injectables, will offset care, Does of more company than we and the these and all expense whatever less of put help? the a biosimilars, interest in year combination growth. right interest,

Christopher Schott

far expect the you next grow still when I we X do If rotary Maybe at That's launch can generics, grow very guess franchise 'XX, it super franchise the the you between year? whole, But is just combined in . as the look helpful. appreciate Parkinson's I should strong really a just that quick to specifically assets? so those I Obviously, think a color. with one over franchise grows. the clarification. we time,

Anastasios Konidaris

be would I Yes, completely only friend, by frankly, offset right, driving . the and $X that billion our It's say But launch. into great little couple tendency will be that LOE be the of offset a company, the objective. dollars loss revenue I Joe bit next about of my obviously, to a than a I the more would -- almost scheme few even healthy, in if able have will grand little of a -- we bit that's that. months this. we a think Obviously, million crazy we're of right? year, it's don't a kind question, here

Chirag Patel

added Chris, also growing we the And which of agents franchise. as have part is

Operator

have further We no questions.

So I'd like to hand back you. to Chirag Thank Patel to conclude.

Chirag Patel

Well, a and . thank wish you great Thank everybody, weekend. you, you.

Operator

Thank call. today's joining. you concludes This for

may disconnect You lines. now your

Amneal Pharmaceuticals (AMRX) 8 Nov 242024 Q3 Earnings call transcript