Amneal Pharmaceuticals, Inc. Q4 FY2025 earnings call

Chirag mentioned 2025 was a defining year with excellent execution and portfolio expansion. They are a diversified biopharmaceutical company building category leadership. Affordable medicines segment had exceptional approvals and launches in 2025, with expectation of acceleration in 2026 - 2027. In injectables, aiming to be top five in U.S. institutional market. Biosimilars are building a long - term growth engine with in - licensing and plans for vertical integration. Cooperation with Pfizer on GLP - 1 is progressing well. Shintu talked about operational excellence, global manufacturing network, enhancing efficiency through digitization etc. In affordable medicine, looking to launch 20 - 30 new products each year, with 59 ANDS pending and 52 in development. Specialty segment: Crexon performing well with over 23,000 patients on therapy, Brachia auto - injector launched for severe migraine and cluster headache, Evcare provides diversification.

In 2025, revenue grew 8%, adjusted EBITDA increased 10%, Adjusted EPS rose 43%. For the affordable medicines segment, in 2025 it was essentially flat to $437 million. Specialty revenues were up 38% year - over - year to $167 million in Q4 2025. UpCare revenues grew 24% to $211 million in Q4 2025. Full - year 2025 total company revenue was $3 billion, with affordable medicines growing 4%, specialty growing 19%, and UpCare growing 12%. For 2026 guidance, total company revenue is expected to be $3.5 billion to $3.15 billion, up 1% to 4%, with affordable medicines expected to grow between 7% and 8%, specialty expected to be flat to 2025, and UpCare expected revenue between $625 million to $700 million.

Total company revenue expected to be $3.5 billion to $3.15 billion in 2026, up 1% to 4%. Adjusted EBITDA expected between 720 and 760 million, up between 5% and 10%. Adjusted EPS expected between $0.93 and $1.03, reflecting 12% to 20% earnings growth. Affordable medicines expected to grow between 7% and 8%. Specialty expected to be flat to 2025. UpCare expected revenue between $625 million to $700 million in 2026.

No specific risks explicitly discussed in detail in the provided transcript.

Q: Chris Schott from J.P. Morgan asked about Crexon's phase 4 data response in the market and 2026 revenue/market share targets.

A: Chintu and Chirag responded about interim results, conversion of patients, and future data.

Q: Chris Schott followed up on healthcare 2026 guidance relative to 2025, growth in government channel vs distribution business and gross margins.

A: Tasos responded about UpCare's growth since acquisition, revenue changes, pivot away from distribution, and impact on bottom line.

Q: Matt Bellatore from Goldman Sachs asked about Pfizer GLP - 1 obesity partnership status and potential outcomes.

A: Chirag responded about collaboration progress, facilities, and marketing rights.

Q: Matt Bellatore followed up on business development strategy and biosimilars vertical integration.

A: Chintu responded about vertical integration in biosimilars and focus on R&D.

Q: David Amselen from Piper Sandler asked about generic OmniPAC opportunity and Zolaire market.

A: Shintu and others responded about OmniPAC supply chain, approval of additional strengths, and Zolaire's market opportunity with private label.

Q: Les Salewski from Tourist Securities asked about Crexon persistence and DHE auto - injector patient profile.

A: Joe and others responded about Crexon's performance vs Rytory, persistence, and DHE auto - injector's patient segments and response