Amphastar Pharmaceuticals, Inc. — Form 8-K
Filed August 6, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 42/100
What the filing says
Amphastar reported Q2 2026 net revenues of $183.9M (+5% YoY from $174.4M). GAAP net income was $30.3M ($0.67 diluted EPS); adjusted non-GAAP net income was $40.8M ($0.91 diluted EPS). Gross margin expanded to 50.8% from 49.6% YoY, driven by higher-margin new product launches (iron sucrose, teriparatide, ipratropium bromide). BAQSIMI achieved $175.0M annual sales, triggering a $100.0M milestone payment due to Eli Lilly in Q3 2026. Year-to-date H1 2026 net income declined 35% to $36.8M vs. $56.3M in H1 2025.
Why this rating
Modest +5% revenue growth, margin expansion positive; but H1 earnings down 35% YoY, BAQSIMI ASP pressured, large Lilly payment ($100M, 16% of market cap) reduces flexibility. Routine earnings disclosure with mixed signals.
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