Amneal Pharmaceuticals gains 1.37% after-hours due to Novartis raising 2024 profit guidance, citing strong Entresto and Kesimpta sales growth.

Amneal Pharmaceuticals, Inc. experienced a post-market upward movement of 1.37% after-hours. The surge can be attributed to the positive news from Novartis, as the Swiss pharmaceutical giant raised its 2024 profit guidance for the second time, citing strong sales growth, particularly for drugs like Entresto for heart failure and Kesimpta for multiple sclerosis. Novartis' improved outlook indicates a favorable impact on Amneal, given their potential synergies or shared market segments in the pharmaceutical industry.