Amphastar Pharmaceuticals, Inc. Q1 FY2026 earnings call

Strategic priorities: 1. Strengthen resilience of core business, disciplined in managing costs, operational efficiency, supply reliability. 2. Expand and optimize branded and differentiated portfolio, Vaximi had ~$32M revenue, Primatine Mist ~$29.8M, AMP-007 launched in April. 3. Advance pipeline of complex and proprietary products, biosimilar and proprietary programs on track for 2027 launches, next gen assets in early stages.

Net revenues were approximately $171.2 million. Vaccine revenues decreased 15% to $32.4 million. Primatine mist sales grew to $29.8 million. Epinephrine sales increased 3% to $19.2 million. Glucagon injection sales declined 56% to $9.2 million. Other finished pharmaceutical product sales increased 34% to $67.1 million. Vaccine generated ~$32 million, ~18.9% of revenue; Primatine Mist ~$29.8 million, ~17.4% of revenue; Epinephrine ~$19.2 million, ~11.2% of revenue; Glucagon ~$9.2 million, ~5.4% of revenue; Other finished products ~$67.1 million, ~39.2% of revenue.

Vaccine revenue growth flat to up no single digit percentages compared to last year; maintaining overall corporate sales guidance of mid-single-digit to high-single-digit unit growth; insulin as part biosimilar and GLP-1 ANDA planned for 2027 launches.

Variability in pricing and competitive intensity across certain legacy products; rebate pressure industry-wide; discontinuation from some international markets with notice periods and inventory considerations.

Q: Couple questions on Baximi, seasonality, price, international discontinuation.

A: Pricing issues with rebates and 340B, engaged firm to address, 3% price increase effective May 1st, discontinuation from some intl markets with notice periods and inventory, not significant drop.

Q: Pipeline questions on synthetic chlorocotrophin and 004.

A: 004 still in progress for 2027 launch, synthetic chlorocotrophin not met with FDA yet for expedited path.

Q: On AMP-004 opportunity and glucagon.

A: AMP-004 has large potential, glucagon decline rate slowing.

Q: On Primatine Mist generic and 007 opportunity.

A: No visibility on Primatine Mist generic, 007 as big growth driver with no generic competitor yet contributing to sales growth guidance