With its revenue in decline and share price at its lowest point since 2021, Amphastar Pharmaceuticals has had to adjust its strategy to try to regain the support of investors. To that end, the 29-year-old drugmaker—long known as a generics specialist—is emphasizing the potential of the candidates in its pipeline, including biosimilars.
Eli Lilly is bidding adieu to Baqsimi, its nasal powder rescue treatment for severe hypoglycemia, or very low blood sugar, in diabetes patients.
In a deal with California’s Amphastar, Lilly has decided to sell its drug for $500 million in cash upfront. Amphastar is also on the hook for an additional $125 million in cash upon the one-year anniversary of the deal’s close. Further, Lilly is in line to receive sales-based milestones worth up to $450 million, the companies said Monday.
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) ("Amphastar" or the "Company") announced that the U.S. Food and Drug Administration ("FDA") has granted approval of its New Drug Application ("NDA") for naloxone hydrochloride nasal spray 4mg, which is delivered utilizing the Company's proprietary nasal delivery device.
The US Food and Drug Administration (FDA) has approved the first generic drug produced by Amphastar Pharmaceuticals to treat severe hypoglycemia.
Expected to improve competition and access to more affordable medicines, the approval has been given to the first generic of glucagon for injection USP, 1 mg/vial packaged in an emergency kit.
Sanofi’s big-selling blood thinner Lovenox has long faced generic competition in the U.S., but now rival generics makers are squashing long-running lawsuits over their own versions of the drug.