Amneal Pharmaceuticals, Inc. (AMRX), a generic medicine and biosimilar manufacturer, announced that it has entered into a definitive agreement to acquire Kashiv BioSciences in a transaction that includes $375 million of cash and $375 million of equity payable at closing.
Also, the agreement includes up to $350 million in potential payments based on the achievement of certain regulatory milestones and royalties. The deal may potentially establish a scaled, fully integrated global biosimilars platform, accelerating growth and diversifying Amneal's long-term growth profile.
Also, the transaction positions Amneal to capitalise on more than $300 billion in global biologic drug sales expected to lose exclusivity over the next decade.
"With Kashiv, Amneal becomes a fully integrated global biosimilars leader at the forefront of the next wave of U.S. affordable medicines," said Chirag Patel, Co-Founder and Co-Chief Executive Officer of Amneal.
The transaction is expected to close in the second half of 2026, subject to approval conditions.
In addition, looking ahead at the potential benefits of the deal, the firm expects to have more than 12 commercial biosimilars and over 20 additional products in the pipeline by 2030.
In addition, the firm noted that the transaction is expected to bring $400 million to $500 million in financial benefits.
Preliminary Q1 2026 Results
In parallel, the firm reported preliminary first-quarter financial results reflecting revenue growth and additionally raised full-year 2026 adjusted EBITDA and earnings guidance.
For the first quarter of 2026, preliminary net income rose 217% to $78 million, up from $25 million in the prior year.
On a diluted basis, per-share earnings improved to $0.19 from $0.04 in the prior year.
Preliminary consolidated net revenue improved by 4% to $723 million, up from $695 million in the prior year.
Preliminary adjusted EBITDA rose 19% to $202 million from $170 million a year ago.
Looking ahead to the full year 2026, the firm raised adjusted EBITDA guidance to $770 million from $760 million in the prior guidance.
The firm also lifted adjusted diluted per share earnings to be in the range of $0.95 and $1.05 from the earlier anticipated range of $0.93 and $1.03.
Meanwhile, the firm maintained its revenue guidance range of $3.05 billion and $3.15 billion.
"We are entering the Kashiv transaction from a position of strength, at a time when we see an extended period of accelerated growth ahead with no shortage of opportunities across our core businesses," said Chirag and Chintu Patel, Co-Founders and Co-Chief Executive Officers of Amneal.
AMRX has traded between $7.02 and $15.42 over the last year. The stock closed Tuesday's trade at $13.02, down 1.81%.
AMRX is up 2.84% to $13.39 in the pre-market.
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