Patels Working To Build ‘Amneal 2.0’
Launched 15 New Products Since Co-CEOs Returned To Revitalize Business
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.
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Amneal says it is taking initiatives to improve its generics margins by improving its manufacturing and supply chain, after its generics segment was sales drop by 11% in the first quarter. Amneal is aiming to deliver six to seven high-value products annually, while the company is also looking to launch three biosimilars in the next couple of years.
Amneal will take a majority stake in Kashiv Specialty Pharmaceuticals after striking a deal worth potentially more than $100m for a 98% stake in the hybrid 505(b)(2) and complex generics specialist.
After launching several high-value complex generic products in the last six months, Amneal aims to launch eight more complex generics by August 2021 to add “tremendous value” to its generics business.