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 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.
Aiming to “aggressively expand sales,” Amneal has announced that it will be launching 15 new generics by August 2021. Amneal’s generics business has also reported growth beyond its set targets for the first quarter of 2020.