Amphastar Pharmaceuticals, Inc. (AMPH) Bundle
A Brief History of Amphastar Pharmaceuticals, Inc.
Amphastar Pharmaceuticals, Inc. is a company specializing in the development, manufacturing, and marketing of pharmaceutical products. As of 2024, the company has made significant strides in both its financial performance and operational capabilities.
Financial Performance Overview
For the nine months ended September 30, 2024, Amphastar reported a net income of $121.6 million, compared to $101.4 million for the same period in 2023, reflecting a growth of approximately 19.9%.
| Metric | 2024 (9 months) | 2023 (9 months) |
|---|---|---|
| Net Income | $121,555,000 | $101,378,000 |
| Net Revenues | $545,444,000 | $466,290,000 |
| Gross Profit | $287,207,000 | $254,981,000 |
| Total Assets | $1,545,178,000 | $1,512,912,000 |
| Total Equity | $727,678,000 | $639,421,000 |
Key Product Lines
Amphastar's product portfolio includes several notable products, such as:
- BAQSIMI® - a glucagon product used for severe hypoglycemia.
- Primatene MIST® - an epinephrine inhalation aerosol.
- Various critical and non-critical care drugs.
Recent Acquisitions and Agreements
In June 2024, Amphastar completed the acquisition of BAQSIMI® for a total consideration of $129 million, with potential additional payments of $575 million based on sales milestones. The company recognized $3.6 million in interest expense related to this acquisition during the nine months ended September 30, 2024.
Stock Performance and Shareholder Equity
As of September 30, 2024, Amphastar had a total of 60,690,076 shares outstanding. The company's total stockholders' equity reached $727.7 million, indicating a solid financial foundation and growth potential.
| Period | Shares Outstanding | Total Equity |
|---|---|---|
| September 30, 2024 | 60,690,076 | $727,678,000 |
| December 31, 2023 | 59,390,194 | $639,421,000 |
Operating Expenses
Amphastar has experienced increases in operating expenses, particularly in the areas of:
- Selling, distribution, and marketing: $27.4 million in 2024, up 35% from 2023.
- General and administrative expenses: $43.8 million, an increase of 14%.
- Research and development: $55.8 million, reflecting ongoing investment in innovative products.
Market Position and Future Outlook
Amphastar's strategic positioning within the pharmaceutical market leverages its strong product offerings and recent acquisitions to enhance revenue growth. The company continues to capitalize on higher-margin products and expects to launch new products that will further strengthen its market presence.
A Who Owns Amphastar Pharmaceuticals, Inc. (AMPH)
Ownership Structure
As of September 30, 2024, Amphastar Pharmaceuticals, Inc. (AMPH) has a total of 60,690,076 shares outstanding. The ownership of these shares is distributed among various institutional investors and individual shareholders. The majority of the shares are held by institutional investors, reflecting a typical ownership pattern for publicly traded companies in the pharmaceutical sector.
Major Shareholders
The following table outlines the major shareholders of Amphastar Pharmaceuticals as of 2024:
| Shareholder | Type of Ownership | Shares Owned | Percentage Ownership |
|---|---|---|---|
| BlackRock, Inc. | Institutional | 5,908,000 | 9.7% |
| The Vanguard Group, Inc. | Institutional | 5,000,000 | 8.2% |
| State Street Corporation | Institutional | 4,500,000 | 7.4% |
| Dr. Jack Zhang (CEO) | Insider | 3,600,000 | 5.9% |
| Other Institutional Investors | Institutional | 30,000,000 | 49.4% |
Insider Ownership
Insider ownership plays a crucial role in corporate governance and can indicate the confidence of management in the future of the company. As of 2024, Dr. Jack Zhang, the CEO of Amphastar, owns approximately 3,600,000 shares, representing about 5.9% of the total shares outstanding. This level of insider ownership suggests a strong alignment of interests between management and shareholders.
Institutional Investor Influence
Institutional investors hold a significant portion of Amphastar's shares, with the top three institutions—BlackRock, Vanguard, and State Street—collectively owning about 25.3% of the company. This concentration of ownership can lead to increased scrutiny on company performance and governance practices.
Recent Changes in Ownership
There have been notable changes in ownership patterns over the last year. The institutional stake in Amphastar has increased, reflecting growing confidence in the company's financial health and future growth prospects. The company reported a net income of $121,555,000 for the nine months ended September 30, 2024, up from $101,378,000 in the same period of the previous year. Such financial performance may encourage further investment from institutional shareholders.
Conclusion on Ownership Dynamics
The ownership structure of Amphastar Pharmaceuticals, Inc. as of 2024 is characterized by significant institutional investment, a notable insider stake, and a general trend of increasing ownership among institutional investors. This dynamic is critical for understanding the potential influence on company strategy and operations moving forward.
Amphastar Pharmaceuticals, Inc. (AMPH) Mission Statement
Current Mission Statement
The mission of Amphastar Pharmaceuticals, Inc. is to develop, manufacture, and market high-quality pharmaceutical products that improve patient outcomes and enhance the quality of life. The company is committed to innovation and excellence in all aspects of its operations.
Financial Overview
As of September 30, 2024, Amphastar reported total net revenues of $191.2 million, up from $180.6 million for the same period in 2023, marking an increase of 6% year-over-year. The breakdown of revenues is as follows:
| Revenue Source | 2024 (in thousands) | 2023 (in thousands) | Change ($ thousands) | Change (%) |
|---|---|---|---|---|
| Total Finished Pharmaceutical Products | $188,819 | $151,855 | $36,964 | 24% |
| Other Revenues | $2,395 | $28,701 | ($26,306) | (92%) |
Product Revenue Breakdown
The increase in finished pharmaceutical products revenue was primarily driven by strong sales of BAQSIMI®, which generated $40.4 million in the third quarter of 2024. The detailed revenue from key products is as follows:
| Product | 2024 Revenue (in thousands) | 2023 Revenue (in thousands) | Change ($ thousands) | Change (%) |
|---|---|---|---|---|
| BAQSIMI® | $40,409 | $0 | $40,409 | N/A |
| Glucagon | $26,792 | $29,514 | ($2,722) | (9%) |
| Primatene MIST® | $26,055 | $24,834 | $1,221 | 5% |
| Epinephrine | $21,341 | $20,199 | $1,142 | 6% |
| Lidocaine | $15,884 | $15,522 | $362 | 2% |
Cost and Profit Analysis
The cost of revenues for the nine months ended September 30, 2024, was $258.2 million, compared to $211.3 million for the same period in 2023, reflecting a 22% increase. The gross profit for the company was $287.2 million, translating to a gross margin of 53%.
Operating Expenses
Operating expenses for the nine months ended September 30, 2024, totaled $126.9 million, up from $112.0 million in 2023, representing a 13% increase. The breakdown is as follows:
| Expense Type | 2024 (in thousands) | 2023 (in thousands) | Change ($ thousands) | Change (%) |
|---|---|---|---|---|
| Selling, Distribution, and Marketing | $27,378 | $20,234 | $7,144 | 35% |
| General and Administrative | $43,782 | $38,418 | $5,364 | 14% |
| Research and Development | $55,772 | $53,322 | $2,450 | 5% |
Market Position and Strategy
Amphastar's strategy focuses on expanding its product offerings and enhancing its market position through strategic collaborations and acquisitions, particularly in high-demand therapeutic areas. The company has entered into agreements for the distribution of BAQSIMI® and other products, aiming to leverage its capabilities to increase market penetration.
Conclusion
The financial performance and strategic initiatives of Amphastar Pharmaceuticals reflect its commitment to delivering innovative pharmaceutical solutions while enhancing shareholder value.
How Amphastar Pharmaceuticals, Inc. (AMPH) Works
Company Overview
Amphastar Pharmaceuticals, Inc. (AMPH) is a biopharmaceutical company that develops, manufactures, and markets pharmaceutical products, primarily focusing on injectables and inhalation products. The company operates in two primary segments: Finished Pharmaceutical Products and Active Pharmaceutical Ingredients (API).
Financial Performance
As of September 30, 2024, Amphastar reported the following key financial metrics:
| Metric | 2024 (Q3) | 2023 (Q3) | Change ($) | Change (%) |
|---|---|---|---|---|
| Net Revenues | $191,214,000 | $180,556,000 | $10,658,000 | 6% |
| Net Income | $40,429,000 | $49,222,000 | ($8,793,000) | (18%) |
| Gross Profit | $101,941,000 | $108,403,000 | ($6,462,000) | (6%) |
Revenue Breakdown
The revenue for the three months ended September 30, 2024, is broken down as follows:
| Product | Revenue ($) | Change ($) | Change (%) |
|---|---|---|---|
| Finished Pharmaceutical Products | $187,357,000 | $39,692,000 | 27% |
| API | $1,462,000 | ($2,728,000) | (65%) |
Cost of Revenues
The cost of revenues for the three months ended September 30, 2024, was as follows:
| Category | Cost ($) | Change ($) | Change (%) |
|---|---|---|---|
| Finished Pharmaceutical Products | $84,208,000 | $17,341,000 | 26% |
| API | $5,065,000 | ($221,000) | (4%) |
Operating Expenses
For the nine months ended September 30, 2024, the company reported the following operating expenses:
| Expense Type | Amount ($) | Change ($) | Change (%) |
|---|---|---|---|
| Selling, Distribution, and Marketing | $27,378,000 | $7,144,000 | 35% |
| General and Administrative | $43,782,000 | $5,364,000 | 14% |
Balance Sheet Highlights
As of September 30, 2024, key balance sheet figures include:
| Item | Amount ($) |
|---|---|
| Total Assets | $727,678,000 |
| Total Liabilities | $290,757,000 |
| Total Stockholders' Equity | $496,427,000 |
Cash Flow Analysis
For the nine months ended September 30, 2024, cash flows from operating activities were:
| Cash Flow Type | Amount ($) |
|---|---|
| Net Income | $121,555,000 |
| Net Cash Provided by Operating Activities | $184,362,000 |
Market Presence and Product Portfolio
Amphastar's product portfolio includes key items such as:
- BAQSIMI®
- Primatene MIST®
- Glucagon
- Epinephrine
- Lidocaine
- Enoxaparin
Throughout 2024, Amphastar has increasingly focused on expanding its market presence, particularly in the distribution of BAQSIMI® and other high-margin products.
How Amphastar Pharmaceuticals, Inc. (AMPH) Makes Money
Revenue Sources
Amphastar Pharmaceuticals generates revenue primarily through two segments: Finished Pharmaceutical Products and Active Pharmaceutical Ingredients (API).
| Segment | Revenue (Q3 2024) | Revenue (Q3 2023) | Change ($) | Change (%) |
|---|---|---|---|---|
| Finished Pharmaceutical Products | $189,752,000 | $176,366,000 | $13,386,000 | 7.6% |
| API | $1,462,000 | $4,190,000 | ($2,728,000) | (65.0%) |
| Total Revenue | $191,214,000 | $180,556,000 | $10,658,000 | 5.9% |
Finished Pharmaceutical Products
This segment includes products such as BAQSIMI®, Primatene MIST®, glucagon, enoxaparin, naloxone, phytonadione, lidocaine, and epinephrine. BAQSIMI® alone contributed significantly to the revenue growth in 2024.
| Product | Revenue (Q3 2024) | Revenue (Q3 2023) | Change ($) | Change (%) |
|---|---|---|---|---|
| BAQSIMI® | $40,409,000 | $0 | $40,409,000 | N/A |
| Glucagon | $26,792,000 | $29,514,000 | ($2,722,000) | (9.2%) |
| Primatene MIST® | $26,055,000 | $24,834,000 | $1,221,000 | 4.9% |
| Epinephrine | $21,341,000 | $20,199,000 | $1,142,000 | 5.7% |
| Lidocaine | $15,884,000 | $15,522,000 | $362,000 | 2.3% |
| Total Finished Pharmaceutical Products | $189,752,000 | $176,366,000 | $13,386,000 | 7.6% |
Active Pharmaceutical Ingredients (API)
The API segment, which primarily manufactures recombinant human insulin and porcine insulin, saw a significant drop in revenue, primarily due to customer qualification processes. Total API revenue for Q3 2024 was $1,462,000.
Cost of Revenues
For the three months ended September 30, 2024, the total cost of revenues was $89,273,000, compared to $72,153,000 for the same period in 2023, reflecting a 24% increase.
| Category | Cost (Q3 2024) | Cost (Q3 2023) | Change ($) | Change (%) |
|---|---|---|---|---|
| Finished Pharmaceutical Products | $84,208,000 | $66,867,000 | $17,341,000 | 26.0% |
| API | $5,065,000 | $5,286,000 | ($221,000) | (4.2%) |
| Total Cost of Revenues | $89,273,000 | $72,153,000 | $17,120,000 | 24.0% |
Gross Profit
The gross profit for the three months ended September 30, 2024, was $101,941,000, down from $108,403,000 in 2023, representing a 6% decrease in gross margin percentage from 60% to 53%.
Operating Expenses
Operating expenses for the three months ended September 30, 2024, totaled $44,893,000, compared to $35,725,000 in the same period in 2023.
| Expense Category | Amount (Q3 2024) | Amount (Q3 2023) | Change ($) | Change (%) |
|---|---|---|---|---|
| Selling, Distribution, and Marketing | $8,995,000 | $6,407,000 | $2,588,000 | 40.4% |
| General and Administrative | $14,821,000 | $12,654,000 | $2,167,000 | 17.1% |
| Research and Development | $21,077,000 | $16,664,000 | $4,413,000 | 26.5% |
| Total Operating Expenses | $44,893,000 | $35,725,000 | $9,168,000 | 25.7% |
Net Income
For the three months ended September 30, 2024, Amphastar reported a net income of $40,429,000, compared to $49,222,000 for the same period in 2023, reflecting a decrease of 17.6%.
| Metric | Q3 2024 | Q3 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| Net Income | $40,429,000 | $49,222,000 | ($8,793,000) | (17.8%) |
| Net Income per Share (Basic) | $0.83 | $1.01 | ($0.18) | (17.8%) |
| Net Income per Share (Diluted) | $0.78 | $0.91 | ($0.13) | (14.3%) |
Future Outlook
Amphastar anticipates growth in revenue from higher-margin products, including BAQSIMI®, which will be crucial as the company continues to adapt to market dynamics and competitive pressures.
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Resources:
- Amphastar Pharmaceuticals, Inc. (AMPH) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Amphastar Pharmaceuticals, Inc. (AMPH)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Amphastar Pharmaceuticals, Inc. (AMPH)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.