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Amphastar Pharmaceuticals (AMPH) investor relations material
Amphastar Pharmaceuticals Piper Sandler 37th Annual Healthcare Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Strategic Direction and Pipeline Evolution
Targeting 50% proprietary products in the pipeline by 2026, shifting from generics to more complex and proprietary assets, with 35% biosimilar focus.
Continued commitment to select generics, but focus is on developing and commercializing proprietary and in-licensed products.
Recent in-licensing of three peptide assets from Anji Biopharmaceuticals, all in preclinical stages, with updates expected at IND stage; exclusive license agreement includes up to $453 million in potential payments and royalties.
R&D spend is increasing to support proprietary development, with $351 million invested over five years and potential for licensing or partnerships to manage costs.
Operates a fully integrated model covering R&D, manufacturing, and distribution, enabling control over quality and compliance throughout the product lifecycle.
Product Launches and Growth Drivers
AMP-007 is expected to be a first-to-market generic with potential 180-day exclusivity and is seen as the biggest growth driver for 2026.
Teriparatide generic (AMP-015) launch anticipated in 1H 2026, expected to provide incremental growth.
Insulin aspart biosimilar and a GLP-1 generic (AMP-018) are targeted for 2027 launches, with insulin aspart seen as a larger opportunity.
Iron sucrose generic (AMP-002) recently launched, manufactured in the U.S., with higher margins than average generics.
Key products include BAQSIMI® (intranasal glucagon), Primatene MIST® (OTC asthma inhaler), and a comprehensive diabetes portfolio.
Baqsimi and Commercial Strategy
Baqsimi holds nearly 60% of the ready-to-use glucagon market, with significant room for growth as only 12% of insulin users currently fill glucagon scripts.
Peak sales for Baqsimi projected at $250M–$275M if script penetration reaches 15–16%; acquisition expands international reach to 26 countries.
Expanded salesforce and co-promotion agreement with Mankind expected to drive further growth.
High payer coverage and stable gross-to-net; patent protection extends to 2036–2039, with device exclusivity further delaying generic entry.
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