Amphastar Pharmaceuticals Reports Net Revenues of $191.2 Million for the Third Quarter
RANCHO CUCAMONGA, CA / ACCESSWIRE / November 6, 2024
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) announced today its financial results for the three months ending on September 30, 2024. The company reported net revenues of $191.2 million for the third quarter, as well as a GAAP net income of $40.4 million, or $0.78 per share. Additionally, Amphastar disclosed an adjusted non-GAAP net income of $49.6 million, or $0.96 per share, for the same period.
Third Quarter Highlights
The standout achievements for the third quarter include the $191.2 million in net revenues and the strong financial performance, with GAAP net income of $40.4 million and adjusted non-GAAP net income of $49.6 million.
Dr. Jack Zhang, President and CEO of Amphastar, expressed his satisfaction with the company’s progress during the quarter. He highlighted the robust sales figures, particularly from their products BAQSIMI® and Primatene MIST®, which are both contributing significantly to the company’s revenue stream. Dr. Zhang mentioned that BAQSIMI® has become a cornerstone in the company’s portfolio, while Primatene MIST® is on track to achieve the goal of $100 million in sales annually.
As Amphastar continues to expand its product offerings and grow its revenue streams, the future looks promising for the pharmaceutical company.
How This Will Affect Me
As a consumer, the positive financial results reported by Amphastar Pharmaceuticals indicate a strong and stable company. This financial stability can lead to continued research and development of innovative pharmaceutical products that could potentially benefit me as a patient in the future.
How This Will Affect the World
The success of Amphastar Pharmaceuticals in the third quarter reflects positively on the pharmaceutical industry as a whole. A thriving company like Amphastar can contribute to advancements in medical treatment and healthcare solutions, ultimately benefiting people around the world.
Conclusion
Amphastar Pharmaceuticals’ impressive financial performance in the third quarter demonstrates the company’s capability to deliver strong results and drive growth in the pharmaceutical industry. With the continued success of products like BAQSIMI® and Primatene MIST®, Amphastar is well-positioned for further expansion and innovation in the healthcare sector.
