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AMRX agreed to buy Kashiv BioSciences for up to $1.10B, adding end-to-end biosimilars capabilities.
Amneal preliminary Q1 EPS rose 29% year over year to 27 cents and revenues climbed 4% to $723 million.
AMRX lifted 2026 EPS outlook. EBITDA now seen at $740M-$770M and EPS in the range of 95 cents-$1.05.
Amneal Pharmaceuticals (AMRX - Free Report) announced that it has entered into a definitive agreement to acquire privately held biotech company Kashiv BioSciences for up to $1.10 billion. The transaction includes $375 million in cash and $375 million in equity, plus up to $350 million in potential milestone-based payments tied to certain regulatory and commercial achievements.
Kashiv is among a few companies with end-to-end biosimilars capabilities covering development, manufacturing, and a deep pipeline in the United States.
The transaction is expected to be closed in the second half of 2026, subject to customary closing conditions.
Simultaneously, Amneal reported preliminary first-quarter 2026 results. The company also raised its 2026 full-year EPS guidance.
Let’s discuss the details.
AMRX’s Deal Rationale
The deal is expected to position Amneal as a fully integrated global biosimilar platform. Management sees more than $300 billion in projected global biologics loss-of-exclusivity over the next decade, which could support Amneal’s biosimilar expansion and diversification, creating long-term value.
By 2030, Amneal expects to have more than 12 commercial biosimilars and over 20 additional products in its pipeline. The latest deal expands Amneal’s biosimilars long-term growth portfolio.
Per management, the impending acquisition of Kashiv is expected to generate substantial financial synergies for Amneal, with projected benefits of $400-$500 million.
Year to date, shares of Amneal have risen 1.8% compared with the industry’s increase of 1.9%.
Image Source: Zacks Investment Research
AMRX Reports Preliminary Q1 2026 Results
Preliminary adjusted earnings were 27 cents per share, up 29% year over year. Preliminary adjusted earnings beat the Zacks Consensus Estimate of 17 cents.
Preliminary total revenues of $723 million in the first quarter of 2026 rose 4% year over year. The Zacks Consensus Estimate for revenues is pegged at $713 million.
Q1 Segment Performance
Affordable Medicines: First-quarter revenues were $423 million, up 2% year over year. Segment growth was driven by the strong performance of the complex portfolio, including Women’s Health and ADHD medicines.
Specialty: First-quarter revenues of $133 million grew 23% year over year, with robust uptake of Crexont and steady Rytary and Unithroid growth. The quarter included initial sales from Brekiya following its recent launch.
Meanwhile, AvKARE net revenues of $166 million declined 4% year over year as growth in the government channel was offset by a decline in the low-margin distribution channel during the first quarter.
AMRX’s 2026 Guidance
Amneal expects 2026 net revenues of $3.05 billion to $3.15 billion, unchanged from the previous projection.
The company now expects adjusted EBITDA of $740 million to $770 million, up from its earlier projection of $720 million to $760 million.
Adjusted EPS is now expected to be in the range of 95 cents to $1.05, up from its earlier estimate of 93 cents to $1.03.
Over the past 60 days, estimates for Catalyst Pharmaceuticals’ 2026 earnings per share have risen from $2.55 to $2.87, while the same for 2027 have increased from $2.85 to $3.25. CPRX shares have gained 11.2% year to date.
Catalyst Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 35.19%.
Over the past 60 days, estimates for Agenus’ 2026 earnings per share have risen from 54 cents to $1.30, while loss per share estimates for 2027 have narrowed from $1.91 to $1.52 during the same time. AGEN shares have soared 25.5% year to date.
Agenus’ earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, with the average surprise being 31.42%.
Over the past 60 days, Amarin's loss per share estimates for 2026 have narrowed from $7.32 to $6.36, while the same for 2027 have narrowed from $5.97 to $4.64 during the same time. AMRN stock has risen 3.9% year to date.
Amarin's earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 51.29%.
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AMRX Announces Kashiv BioSciences Buyout, Solid Q1 Preliminary Results
Key Takeaways
Amneal Pharmaceuticals (AMRX - Free Report) announced that it has entered into a definitive agreement to acquire privately held biotech company Kashiv BioSciences for up to $1.10 billion. The transaction includes $375 million in cash and $375 million in equity, plus up to $350 million in potential milestone-based payments tied to certain regulatory and commercial achievements.
Kashiv is among a few companies with end-to-end biosimilars capabilities covering development, manufacturing, and a deep pipeline in the United States.
The transaction is expected to be closed in the second half of 2026, subject to customary closing conditions.
Simultaneously, Amneal reported preliminary first-quarter 2026 results. The company also raised its 2026 full-year EPS guidance.
Let’s discuss the details.
AMRX’s Deal Rationale
The deal is expected to position Amneal as a fully integrated global biosimilar platform. Management sees more than $300 billion in projected global biologics loss-of-exclusivity over the next decade, which could support Amneal’s biosimilar expansion and diversification, creating long-term value.
By 2030, Amneal expects to have more than 12 commercial biosimilars and over 20 additional products in its pipeline. The latest deal expands Amneal’s biosimilars long-term growth portfolio.
Per management, the impending acquisition of Kashiv is expected to generate substantial financial synergies for Amneal, with projected benefits of $400-$500 million.
Year to date, shares of Amneal have risen 1.8% compared with the industry’s increase of 1.9%.
Image Source: Zacks Investment Research
AMRX Reports Preliminary Q1 2026 Results
Preliminary adjusted earnings were 27 cents per share, up 29% year over year. Preliminary adjusted earnings beat the Zacks Consensus Estimate of 17 cents.
Preliminary total revenues of $723 million in the first quarter of 2026 rose 4% year over year. The Zacks Consensus Estimate for revenues is pegged at $713 million.
Q1 Segment Performance
Affordable Medicines: First-quarter revenues were $423 million, up 2% year over year. Segment growth was driven by the strong performance of the complex portfolio, including Women’s Health and ADHD medicines.
Specialty: First-quarter revenues of $133 million grew 23% year over year, with robust uptake of Crexont and steady Rytary and Unithroid growth. The quarter included initial sales from Brekiya following its recent launch.
Meanwhile, AvKARE net revenues of $166 million declined 4% year over year as growth in the government channel was offset by a decline in the low-margin distribution channel during the first quarter.
AMRX’s 2026 Guidance
Amneal expects 2026 net revenues of $3.05 billion to $3.15 billion, unchanged from the previous projection.
The company now expects adjusted EBITDA of $740 million to $770 million, up from its earlier projection of $720 million to $760 million.
Adjusted EPS is now expected to be in the range of 95 cents to $1.05, up from its earlier estimate of 93 cents to $1.03.
AMNEAL PHARMACEUTICALS, INC. Price and Consensus
AMNEAL PHARMACEUTICALS, INC. price-consensus-chart | AMNEAL PHARMACEUTICALS, INC. Quote
AMRX's Zacks Rank & Stocks to Consider
Amneal currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the drug/biotech sector are Catalyst Pharmaceuticals (CPRX - Free Report) , Agenus (AGEN - Free Report) and Amarin (AMRN - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) presently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Catalyst Pharmaceuticals’ 2026 earnings per share have risen from $2.55 to $2.87, while the same for 2027 have increased from $2.85 to $3.25. CPRX shares have gained 11.2% year to date.
Catalyst Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 35.19%.
Over the past 60 days, estimates for Agenus’ 2026 earnings per share have risen from 54 cents to $1.30, while loss per share estimates for 2027 have narrowed from $1.91 to $1.52 during the same time. AGEN shares have soared 25.5% year to date.
Agenus’ earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, with the average surprise being 31.42%.
Over the past 60 days, Amarin's loss per share estimates for 2026 have narrowed from $7.32 to $6.36, while the same for 2027 have narrowed from $5.97 to $4.64 during the same time. AMRN stock has risen 3.9% year to date.
Amarin's earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 51.29%.