Amphastar Pharmaceuticals, Inc. (AMPH)

Amphastar's stock has trended upwards by 35.73% in the past six months. In January 2026, the stock jumped 5.8% after announcing an exclusive license agreement with Nanjing Hanxin Pharmaceutical Technology Co., Ltd. for AMP-110. In November 2025, the stock gained 10.9% following strong third-quarter financial results. In July 2025, AMPH declined 3.51% after announcing a multi-year expansion of its U.S. manufacturing operations. Amphastar reported Q3 2025 revenues of $191.8 million and non-GAAP adjusted EPS of $0.93, with strong sales of Baqsimi and Primatene Mist, while glucagon injection sales fell 49%. Amphastar delivered a mixed second quarter, with revenue impacted by increased competition in legacy products, offset by strong Baqsimi sales, and beat adjusted EPS estimates. The company missed Wall Street's revenue expectations in Q1 2025, with sales flat year-on-year at $170.5 million, attributed to softer demand for critical care products and increased competition for Glucagon.

Amphastar Pharmaceuticals' products exhibit some demand seasonality, with Primatene Mist sales benefiting from seasonal demand, particularly in the third quarter. Baqsimi also experienced a quarter-over-quarter increase in prescriptions during the third quarter of 2025, aided by seasonal trends.

Amphastar Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing, manufacturing, marketing, and selling generic and proprietary injectable, inhalation, and intranasal products. The company provides essential medicines, addresses supply chain gaps, and offers lower-cost options, with products used in hospital or urgent care settings and distributed through group purchasing organizations and drug wholesalers. Its portfolio includes Primatene MIST, epinephrine, glucagon, phytonadione, lidocaine, enoxaparin, and naloxone, as well as recombinant human insulin and porcine insulin APIs. Amphastar is developing over 20 product candidates and acquired Baqsimi, a needle-free nasal glucagon, from Eli Lilly in April 2023.

Amphastar Pharmaceuticals is headquartered in Rancho Cucamonga, California, USA, and has a global presence with manufacturing facilities in the United States, China, and France. All finished pharmaceutical products are manufactured in the United States. The company distributes its products through specialty distributors, wholesalers, and retailers in the US, France, and China.

Amphastar's brand reputation has faced challenges, including criticism for doubling the price of naloxone in 2015 and the FDA rejecting its application for an intranasal naloxone device in 2017. However, the company won a patent infringement lawsuit in 2018, and the acquisition of Baqsimi in 2023 has been a significant strategic move. Market sentiment and concerns about drug pricing and competition have also influenced the company's stock performance.

Institutional investors hold a significant stake in Amphastar Pharmaceuticals, ranging from approximately 71% to 80.55% of the total shares outstanding, with major holders including BlackRock, Inc., Vanguard Group Inc., and TD Asset Management Inc. Individual ownership includes CEO Yongfeng Zhang, who owns 4.3% of the company's shares, and Ziping Luo, Chairman of the Board, who is the third-largest shareholder. The general public holds an 11% stake.