Amphastar Pharmaceuticals, Inc. reported net revenues of $186.5 million for the fourth quarter ended December 31, 2024, a 4.7% increase compared to Q4 2023. However, adjusted EPS came in at $0.92, missing the consensus of $0.94, and total revenue of $186.5 million fell short of the projected $188 million.
For the full year 2024, net revenues reached $732.0 million, representing a 14% increase from the prior year. GAAP net income for the full year was $159.5 million, or $3.06 per diluted share, and adjusted non-GAAP net income was $200.8 million, or $3.86 per diluted share.
Dr. Jack Zhang, President and CEO, highlighted that Primatene MIST exceeded its long-term goal of $100 million in annual sales in 2024, with sales surging 18% in Q4. BAQSIMI contributed $41.8 million in direct sales during the fourth quarter, showing 12% factory sales growth compared to Q4 2023.
Gross profit margin declined to 46.5% in Q4 2024 from 54% a year ago, attributed to higher labor and component costs. This margin compression was also impacted by increased competition, with Epinephrine sales falling by 24% and Enoxaparin revenues dropping 39%.
Looking ahead to 2025, the company plans to continue developing and growing its proprietary pipeline. The mixed results reflect the ongoing strategic transition, balancing branded product growth with competitive pressures on legacy generics.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.