Amphastar Pharmaceuticals, Inc., a bio-pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States, China, and France. It offers BAQSIMI, a dry nasal spray used in an emergency for the treatment of severe hypoglycemia; Primatene MIST, an epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Glucagon for injection emergency kit; Enoxaparin, an injectable form of low molecular weight heparin for the prevention and treatment of deep vein thrombosis; and REXTOVY and Naloxone for opioid overdose. The company also provides Cortrosyn, a lyophilized power for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency; Amphadase, a bovine-sourced hyaluronidase injection; Epinephrine injection for allergic reactions; Lidocaine jelly, an anesthetic product for urological procedures; Lidocaine topical solution for various procedures; Phytonadione injection, a vitamin K1 injection for newborn babies; and emergency syringe products, including atropine, calcium chloride, dextrose, epinephrine, lidocaine, and sodium bicarbonate. In addition, it offers Albuterol sulfate inhalation aerosol for the treatment or prevention of bronchospasm; Iron sucrose injection, an iron replacement product for the treatment of iron deficiency anemia in patients with chronic kidney disease; Teriparatide injection for managing daily osteoporosis therapy; and Ipratropium Bromide HFA inhalation aerosol, an anticholinergic indicated for the maintenance treatment of bronchospasm associated with chronic obstructive pulmonary disease. Further, the company provides active pharmaceutical ingredient (API) products, such as Recombinant Human Insulin and porcine insulin API. The company was founded in 1996 and is headquartered in Rancho Cucamonga, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $720M | $212M | $98M | $119M | 12.4% | -1.7% | -38.5% |
| 2024 | $732M | $277M | $160M | $172M | 21.8% | 13.6% | 16.0% |
| 2023 | $644M | $240M | $138M | $145M | 21.5% | 29.1% | 50.5% |
| 2022 | $499M | $146M | $91M | $65M | 17.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 498.99 | 644.40 | 731.97 | 719.89 |
| Operating Revenue | - | 498.99 | 593.24 | 712.81 | 719.89 |
| Cost Of Revenue | - | 250.13 | 293.27 | 358.11 | 363.83 |
| Gross Profit | - | 248.86 | 351.12 | 373.86 | 356.06 |
| Operating Expense | - | 141.36 | 154.13 | 168.44 | 215.65 |
| Research And Development | - | 74.77 | 73.74 | 73.91 | 85.84 |
| Selling General And Administration | - | 66.59 | 80.39 | 94.52 | 129.81 |
| Total Expenses | - | 391.49 | 447.41 | 526.55 | 579.48 |
| Operating Income | - | 107.50 | 196.99 | 205.42 | 140.40 |
| Total Operating Income As Reported | - | 107.50 | 196.99 | 205.42 | 140.40 |
| EBITDA | - | 146.16 | 240.29 | 277.31 | 212.31 |
| Normalized EBITDA | - | 146.16 | 240.29 | 277.31 | 212.31 |
| EBIT | - | 117.89 | 198.52 | 220.11 | 149.10 |
| Interest Income | - | 1.32 | 5.46 | 10.61 | 8.68 |
| Interest Expense | - | 1.85 | 27.16 | 30.34 | 25.48 |
| Net Interest Income | - | -0.52 | -21.70 | -19.73 | -16.80 |
| Other Non Operating Income Expenses | - | 9.07 | -3.93 | 4.08 | 0.02 |
| Other Income Expense | - | 9.07 | -3.93 | 4.08 | 0.02 |
| Interest Income Non Operating | - | 1.32 | 5.46 | 10.61 | 8.68 |
| Interest Expense Non Operating | - | 1.85 | 27.16 | 30.34 | 25.48 |
| Net Non Operating Interest Income Expense | - | -0.52 | -21.70 | -19.73 | -16.80 |
| Pretax Income | - | 116.04 | 171.36 | 189.76 | 123.62 |
| Tax Provision | - | 23.48 | 31.83 | 29.67 | 25.53 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 91.39 | 137.54 | 159.52 | 98.09 |
| Net Income From Continuing And Discontinued Operation | - | 91.39 | 137.54 | 159.52 | 98.09 |
| Net Income From Continuing Operation Net Minority Interest | - | 91.39 | 137.54 | 159.52 | 98.09 |
| Net Income | - | 91.39 | 137.54 | 159.52 | 98.09 |
| Net Income Common Stockholders | - | 91.39 | 137.54 | 159.52 | 98.09 |
| Net Income Including Noncontrolling Interests | - | 91.39 | 137.54 | 159.52 | 98.09 |
| Normalized Income | - | 91.39 | 137.54 | 159.52 | 98.09 |
| Diluted NI Availto Com Stockholders | - | 91.39 | 137.54 | 159.52 | 98.09 |
| Basic Average Shares | - | 48.55 | 48.26 | 48.43 | 46.74 |
| Diluted Average Shares | - | 52.43 | 53 | 52.06 | 48.22 |
| Reconciled Depreciation | - | 28.28 | 41.78 | 57.20 | 63.20 |
| Reconciled Cost Of Revenue | - | 250.13 | 293.27 | 358.11 | 363.83 |
| Minority Interests | -1.18 | 0 | 0 | - | - |
| Earnings From Equity Interest Net Of Tax | - | -1.18 | -1.98 | -0.57 | 0 |
| General And Administrative Expense | - | 45.06 | 51.54 | 56.72 | 85.92 |
| Other Gand A | - | 45.06 | 51.54 | 56.72 | 85.92 |
| Selling And Marketing Expense | - | 21.53 | 28.85 | 37.80 | 43.88 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Amphastar Pharmaceuticals, Inc.this co. | AMPH | $825M | 8.41 | 1.05 | 12.4% | 6.17 |
| Theravance Biopharma, Inc. | TBPH | $844M | 7.97 | 2.84 | 35.7% | 5.34 |
| Janux Therapeutics, Inc. | JANX | $839M | -7.39 | 0.88 | -11.9% | -5.20 |
| ORIC Pharmaceuticals, Inc. | ORIC | $830M | -6.41 | 2.16 | -33.7% | -5.56 |
| LB Pharmaceuticals Inc | LBRX |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $829M |
| -32.88 |
| 2.75 |
| -8.4% |
| -19.35 |
| Sana Biotechnology, Inc. | SANA | $824M | -3.37 | 5.12 | -151.8% | -4.31 |
| Replimune Group, Inc. | REPL | $815M | -3.30 | 1.96 | -59.5% | -3.31 |
| Esperion Therapeutics, Inc. | ESPR | $806M | - | - | 7.5% | 13.94 |
| Lumexa Imaging Holdings, Inc. | LMRI | $792M | -16.81 | 1.35 | -8.0% | 11.96 |
| Peer Median | - | -6.41 | 2.16 | -10.1% | -3.81 | |