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AMRX - Amneal falls 12% on disappointing Q1 result
Amneal Pharmaceuticals Inc. Class A
Amneal Pharma (NYSE:AMRX -12.6%) stock falls after the company posted lower-than-expected Q1 result, hurt by loss of exclusivity of Zomig Nasal Spray. Revenue for the quarter increased 1% Y/Y to $498M, but missed estimates by $4.66M. Adjusted EBITDA in the quarter was $100M, down 13% compared to the first quarter of 2021, due to product mix and a tough comparison to the prior year. The company forecast FY22 Guidance of $2.15B-$2.25B revenues vs consensus of $2.19B, and Adj EPS of $0.80-$0.85 vs consensus of $0.84.