Amneal Announces Move to Nasdaq
December 15 2023 - 4:05PM
Business Wire
- Nasdaq move will be effective on December 27, 2023
Amneal Pharmaceuticals, Inc. (“Amneal”) (NYSE: AMRX) today
announced that it will transfer its stock exchange listing to the
Nasdaq Stock Market (“Nasdaq”) from the New York Stock Exchange
(“NYSE”). The Company expects the Nasdaq listing to occur on
December 27, 2023 and will continue to trade under the current
symbol “AMRX”. Upon transferring, Amneal will become part of the
Nasdaq Composite Index and Nasdaq Biotechnology Index.
“We are pleased to join the community of global pharmaceutical
companies listed on Nasdaq. We would also like to thank the NYSE
for supporting the company over the last five years since our
initial listing,” said Tasos Konidaris, Executive Vice President
and Chief Financial Officer. “Amneal is a highly innovative global
pharmaceutical company with a large, diversified portfolio of
essential medicines. We look forward to this new partnership with
Nasdaq as we drive continued growth and value creation.”
About Amneal
Amneal Pharmaceuticals, Inc., headquartered in Bridgewater, NJ,
is a fully integrated global pharmaceuticals company. We make
healthy possible through the development, manufacturing, and
distribution of a diverse portfolio of approximately 270
pharmaceutical products, primarily within the United States. In its
Generics segment, the Company is expanding across a broad range of
complex product categories and therapeutic areas, including
injectables and biosimilars. In its Specialty segment, Amneal has a
growing portfolio of branded pharmaceuticals focused primarily on
central nervous system and endocrine disorders, with a pipeline
focused on unmet needs. Through its AvKARE segment, the Company is
a distributor of pharmaceuticals and other products for the U.S.
federal government, retail, and institutional markets. For more
information, please visit www.amneal.com.
Cautionary Statement on Forward-Looking Statements
Certain statements contained herein, regarding matters that are
not historical facts, may be forward-looking statements (as defined
in the U.S. Private Securities Litigation Reform Act of 1995). Such
forward-looking statements include statements regarding our ability
to transfer listing exchanges on the timeline anticipated or at all
and other non-historical statements. Words such as “plans,”
“expects,” “will,” “anticipates,” “estimates,” and similar words,
or the negatives thereof, are intended to identify estimates and
forward-looking statements.
The reader is cautioned not to rely on these forward-looking
statements. These forward-looking statements are based on current
expectations of future events, including with respect to future
market conditions, company performance and financial results,
operational investments, business prospects, new strategies and
growth initiatives, the competitive environment, and other events.
If the underlying assumptions prove inaccurate or known or unknown
risks or uncertainties materialize, actual results could vary
materially from the expectations and projections of the
Company.
Such risks and uncertainties include, but are not limited to:
our ability to successfully develop, license, acquire and
commercialize new products on a timely basis; the competition we
face in the pharmaceutical industry from brand and generic drug
product companies, and the impact of that competition on our
ability to set prices; our ability to obtain exclusive marketing
rights for our products; our ability to manage our growth through
acquisitions and otherwise; our revenues are derived from the sales
of a limited number of products, a substantial portion of which are
through a limited number of customers; the continuing trend of
consolidation of certain customer groups; our dependence on
third-party suppliers and distributors for raw materials for our
products and certain finished goods; our ability to complete the
proposed holding company reorganization on the anticipated timeline
or at all and to realize the expected benefits of such
reorganization; our substantial amount of indebtedness and our
ability to generate sufficient cash to service our indebtedness in
the future, and the impact of interest rate fluctuations on such
indebtedness; our ability to secure satisfactory terms when
negotiating a refinancing or other new indebtedness; our dependence
on third-party agreements for a portion of our product offerings;
legal, regulatory and legislative efforts by our brand competitors
to deter competition from our generic alternatives; risks related
to federal regulation of arrangements between manufacturers of
branded and generic products; our reliance on certain licenses to
proprietary technologies from time to time; the significant amount
of resources we expend on research and development; the risk of
product liability and other claims against us by consumers and
other third parties; risks related to changes in the regulatory
environment, including U.S. federal and state laws related to
healthcare fraud abuse and health information privacy and security
and changes in such laws; changes to Food and Drug Administration
product approval requirements; the impact of healthcare reform and
changes in coverage and reimbursement levels by governmental
authorities and other third-party payers; our potential expansion
into additional international markets subjecting us to increased
regulatory, economic, social and political uncertainties, including
recent events affecting the financial services industry; our
ability to identify, make and integrate acquisitions or investments
in complementary businesses and products on advantageous terms; the
impact of global economic, political or other catastrophic events;
our ability to attract, hire and retain highly skilled personnel;
our obligations under a tax receivable agreement may be
significant; and the high concentration of ownership of our Class A
Common Stock and the fact that we are controlled by the Amneal
Group. The forward-looking statements contained herein are also
subject generally to other risks and uncertainties that are
described from time to time in the Company’s filings with the
Securities and Exchange Commission, including under Item 1A, “Risk
Factors” in the Company’s most recent Annual Report on Form 10-K
and in its subsequent reports on Forms 10-Q and 8-K. Investors are
cautioned not to place undue reliance on any such forward-looking
statements, which speak only as of the date they are made.
Forward-looking statements included herein speak only as of the
date hereof and we undertake no obligation to revise or update such
statements to reflect the occurrence of events or circumstances
after the date hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20231215574199/en/
Investors: Anthony DiMeo Head of Investor Relations
anthony.dimeo@amneal.com
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