Amneal Pharmaceuticals sees Q1 revenue $550M-$560M, consensus $529.47M

Sees Q1 loss before income taxes of $10M-$0, an improvement of approximately 50% vs. 1Q22; adjusted EBITDA of $115M-$120M, an increase of approximately 18% vs. 1Q22; long-term debt of $2.692B and cash and cash equivalents and restricted cash of $151M as of March 31, 2023, resulting in net debt of $2.541B as of March 31, 2023, vs. long-term debt( of $2.682B and cash and cash equivalents and restricted cash of $35M as of December 31 2022, resulting in net debt of $2.647B as of December 31, 2022. "We are extremely pleased with the start of 2023 with strong double-digit top line and adjusted EBITDA growth and reduced net debt. We are tracking well across the key vectors of our strategy to drive sustainable growth, higher profitability, and reduce debt over time. In Generics, our large portfolio of complex products continues to perform well, and we are seeing good uptake of our biosimilars which are on-track with our full year plan. In Specialty, we are pleased with the growth of Rytary and Unithroid, and are working closely with the U.S. FDA ahead of our June 30th PDUFA date for IPX203 in Parkinson’s. Finally, AvKARE continues to deliver double-digit revenue growth. In summary, our business continues to flourish, and we believe Amneal is well positioned for continued success," said co-CEOs Chirag and Chintu Patel.