Amphastar Reports Revenue Growth Amidst Competitive Portfolio Shifts
Amphastar Pharmaceuticals posted $183.9 million in net revenue for the second quarter of 2026, marking a 5% increase over the previous year. Despite the growth, the biopharmaceutical company reported a GAAP net income of $30.3 million, or $0.67 per share, as it navigated shifting pricing dynamics and heightened market competition.
The California-based company saw revenue fluctuations across its core products, with strong performance in recent launches partially offsetting declines in established lines. Sales of Glucagon fell by 42% compared to the same period last year, a dip management attributed to increased competition and a consumer shift toward newer, ready-to-use alternatives like BAQSIMI. Conversely, the company’s expansion into higher-margin products—including iron sucrose and teriparatide—provided a necessary buffer to gross margins.
Operating expenses rose during the quarter, driven by a 30% jump in general and administrative costs linked to legal fees and the implementation of new ERP systems. Research and development spending also climbed to $22.1 million as the company accelerated clinical trials for its insulin pipeline. CEO Dr. Jack Zhang emphasized that the results validate the firm’s integrated business model, noting that despite competitive pressures, the company continues to advance both its generic and proprietary development pipelines. Amphastar currently holds a portfolio of products in development targeting a market size exceeding $6 billion.
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