Amphastar Pharmaceuticals, Inc. Announces Settlement in Litigation with Momenta and Sandoz
June 19 2019 - 6:00AM
Amphastar Pharmaceuticals, Inc., (NASDAQ: AMPH) today announced
that it has entered into a settlement agreement (the “Settlement
Agreement”) with Momenta Pharmaceuticals Inc. and Sandoz Inc.,
(collectively, “Momenta/Sandoz”). Under the terms of the Settlement
Agreement, Momenta/Sandoz will (i) pay Amphastar $59.9 million no
later than July 2, 2019; and (ii) Amphastar and Momenta/Sandoz will
submit stipulations of dismissal of all pending litigation between
the parties.
Company
Information Amphastar is a specialty
pharmaceutical company that focuses on developing, manufacturing,
marketing, and selling technically-challenging generic and
proprietary injectable, inhalation and intra-nasal products.
Additionally, the Company sells insulin active pharmaceutical
ingredient products. Most of the Company’s finished products are
used in hospital or urgent care clinical settings and are primarily
contracted and distributed through group purchasing organizations
and drug wholesalers. More information is available at the
Company’s website at www.amphastar.com. Amphastar’s logo and
other trademarks or service marks of Amphastar
Pharmaceuticals, Inc., including, but not limited to Primatene®,
Amphadase® and Cortrosyn®, are the property of Amphastar
Pharmaceuticals, Inc.
Forward Looking
Statements
All statements in this press release that are not
historical are forward-looking statements, including, among other
things, statements relating to the Company’s expectations regarding
the submission of stipulations of dismissal and the completion and
dismissal of all legal proceedings between the parties, the payment
of the settlement amount, and other future events. These
statements are not historical facts but rather are based on
Amphastar’s historical performance and its current expectations,
estimates, and projections regarding Amphastar’s legal and other
similar or related factors. Words such as “may,” “might,” “will,”
“could,” “would,” “should,” “anticipate,” “predict,” “potential,”
“continue,” “expect,” “intend,” “plan,” “project,” “believe,”
“estimate,” and other similar or related expressions are used to
identify these forward-looking statements, although not all
forward-looking statements contain these words. You should not
place undue reliance on forward-looking statements because they
involve known and unknown risks, uncertainties, and assumptions
that are difficult or impossible to predict and, in some cases,
beyond Amphastar’s control. Actual results may differ materially
from those in the forward-looking statements as a result of a
number of factors, including those described in Amphastar’s filings
with the Securities and Exchange Commission. You can locate
these reports through the Company’s website at
http://ir.amphastar.com and on the SEC’s website at
www.sec.gov. Amphastar undertakes no obligation to revise or
update information in this press release to reflect events or
circumstances in the future, even if new information becomes
available or if subsequent events cause Amphastar’s expectations to
change.Investor Contact:
Amphastar Pharmaceuticals, Inc. Bill Peters Chief Financial Officer
(909) 980-9484
Amphastar Pharmaceuticals (NASDAQ:AMPH)
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