AMRX - Amneal shares rise after Q4 results FY forecast

Amneal Pharmaceuticals (AMRX) shares rise nearly 5% premarket after posting fourth-quarter revenue that beat Wall Street estimates, helped by its AvKARE acquisition and new product launches.Net revenue in the fourth quarter of 2020 was $510M, an increase of 28% compared to $397M in the prior-year period. Analysts had expected $506.9M.The company also gave out its full-year guidance: Net revenue of $2.1B - $2.2B; Adjusted EBITDA/share of $0.70 - $0.85; Operating cash flow of $220M - $250M; capital expenditure of $60M - $70M.The company posted quarterly adjusted net income of $43.4M, or $0.14 per share, compared with $23M, or $0.08 per share last year.As of December 31 2020, the company had cash and cash equivalents of $341.38M, compared with $151.19M last year.Separately on Friday, the company also announced the FDA approval for its Abbreviated New Drug Application ("ANDA") for Norelgestromin and Ethinyl Estradiol Transdermal system, a generic version of the reference listed drug (“RLD”)

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Amneal shares rise after Q4 results, FY forecast