Amneal rises as Kashiv BioSciences buy lifts biosimilar push, outlook

Amneal Pharmaceuticals

22/04/2026 11:45

** Shares of drugmaker Amneal Pharmaceuticals AMRX.O rise 3% to $13.41 premarket

** Co says it will buy U.S.-based Kashiv BioSciences in a $750 million cash-and-stock deal, with up to $350 million more tied to milestones

** Kashiv develops biosimilar medicines, near-copies of costly biologic drugs, a fast-growing market as patents expire - AMRX

** Co says deal will help it launch more biosimilars annually; aims for over 12 biosimilars marketed by 2030, with 20 in development

** Reports preliminary revenue of $723 million for the first quarter, compared with analysts' estimates of $715.3 million - data compiled by LSEG

** Raises 2026 adjusted profit per share forecast to 95 cents to $1.05, from its earlier guidance of 93 cents to $1.03

** As of last close, AMRX up ~3% YTD

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))