Generic Drugmaker Amneal Announces Over $270M In US Opioid Lawsuit Settlement
Portfolio Pulse from Vandana Singh
Amneal Pharmaceuticals Inc (NASDAQ:AMRX) announced a settlement over $270 million to resolve U.S. opioid crisis-related lawsuits. The settlement includes $92.5 million in cash and $180 million in naloxone nasal spray, spread over ten years. This agreement aims to settle a significant portion of the over 900 opioid-related lawsuits against Amneal. Additionally, Amneal reported a Q1 adjusted EPS of $0.14, beating the consensus of $0.09, and sales of $659.2 million, up 8% from the previous year. The company reaffirms its FY 2024 revenue guidance of $2.55 billion-$2.65 billion and an adjusted EPS of $0.53-$0.63.

May 03, 2024 | 6:43 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Amneal Pharmaceuticals Inc settles opioid lawsuits for over $270M, reports strong Q1 earnings, and reaffirms FY 2024 guidance. Shares rose 9.55%.
The settlement of opioid lawsuits removes a significant legal overhang, potentially restoring investor confidence and reducing future liabilities. The positive Q1 earnings report and reaffirmation of FY 2024 guidance further bolster the company's financial outlook, contributing to the stock's positive performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100