Amneal Pharma (AMRX) Focusing On 2020 & Beyond

(RTTNews) - Shares of Amneal Pharmaceuticals Inc. (AMRX) have nearly doubled over the last 28 trading days and trade around $5.40.

Amneal is an integrated pharmaceutical company developing, manufacturing and distributing generic, brand and biosimilars, with an extensive portfolio of more than 225 marketed commercial products.

In a bid to improve operations and position the company for future growth, Amneal implemented a comprehensive restructuring plan in July of this year and has already started seeing results.

The tactical plan adopted by Amneal to drive higher revenue and profitability includes revitalizing its base business, improving gross margins, refocusing R&D efforts, evaluating external opportunities and growing its specialty business, to name a few.

Over the next 18-24 months, the Company plans to launch about 15 complex products.

Last week, the Company secured FDA approval for EluRyng, the first generic version of NuvaRing, a flexible vaginal ring used to prevent pregnancy. Earlier in the month, the Company received FDA approval for its generic version of Carafate (sucralfate) Oral Suspension, 1 g/10 ml and for its generic versions of Revatio (sildenafil citrate) for Oral Suspension 10 mg/ml and Amicar (aminocaproic acid) Tablets USP, 500 mg.

Amneal, which views 2019 as a transition year, is confident of returning to growth in 2020 and beyond.