Amphastar Pharmaceuticals has released its Q3 financial results for 2024, showing strong performance with net revenues of $191.2 million, an increase from $180.6 million in the same period last year.
The company reported a GAAP net income of $40.4 million, equivalent to earnings of $0.78 per share. Adjusted non-GAAP net income was $49.6 million, or $0.96 per share.
The success of key products, particularly BAQSIMI® and Primatene MIST®, contributed significantly to the third quarter results.
Amphastar's focus on sustainable long-term growth is evident through its commitment to developing proprietary products and biosimilars. The company's financial adjustments, including non-cash items such as intangible asset amortization and share-based compensation, provide investors with a clearer understanding of its operational performance.
Amphastar's strategic direction emphasizes growth and innovation, with a focus on high-value areas and R&D to develop new products.
Overall, the company's latest financial results demonstrate resilience, growth potential, and a commitment to long-term value creation.