Perfect storm blows Amneal off course

11 July 2019

A troubling mix of strong competition, supply problems and product launch delays have prompted a radical shake-up at Amneal Pharmaceuticals (NYSE: AMRX).

News of the problems and pending restructuring plan, additional details of which will be provided “in the future,” sent shares in the New Jersey, USA-based generics company down over a third on Wednesday.

The company said operational budget reductions, revised organizational structures, re-prioritization of R&D projects and changes to manufacturing and R&D will reduce its annual cost base by $50 million.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK