Amphastar 2025 Q3 Earnings Revenue Up 1.6% as EPS Drops 54.2%

Amphastar (AMPH) reported fiscal 2025 Q3 results on November 6, 2025, , exceeding expectations, while EPS and net income declined sharply due to pricing pressures and operational costs. The company provided no specific financial guidance but emphasized strategic growth through FDA approvals and pipeline expansion.

Revenue

Amphastar’s revenue growth was driven by a 14% year-over-year increase in BAQSIMI® sales, bolstered by expanded U.S. marketing efforts, while the launch of iron sucrose injection . Additionally, Primatene MIST® . However, Epinephrine, Glucagon, and segments faced revenue declines amid competitive pricing and market challenges.

Earnings/Net Income

, and net income fell 57.1% to $17.35 million. Despite a modest revenue increase, these declines underscored margin pressures from cost control measures and litigation expenses. , but GAAP metrics highlighted significant operational headwinds.

Despite a 1.6% revenue increase, Amphastar’s EPS and net income declined significantly, reflecting operational challenges and pricing pressures in key product segments.

Post-Earnings Price Action Review

The strategy of buying Amphastar shares after a quarterly revenue increase and holding for 30 days showed favorable performance over the past three years, with a cumulative return of 31.2% and an average annual return of ~10%. This suggests a solid medium-term investment approach, considering the market dynamics and the company’s performance.

Following the earnings report, the stock price declined 4.64% in a single trading day and 6.19% month-to-date, reflecting investor caution amid mixed financial results. Analysts noted that while revenue exceeded estimates, the sharp EPS drop and guidance ambiguity limited immediate optimism. The Zacks Rank #3 (Hold) rating suggests the stock is expected to align with market performance in the near term.

CEO Commentary

Dr. Jack Zhang highlighted double-digit growth in BAQSIMI®, the FDA approval of iron sucrose injection, and a licensing agreement with Nanjing Anji for three novel peptides targeting oncology and ophthalmology. The CEO emphasized leveraging domestic manufacturing expertise to advance complex generics and expand the proprietary pipeline, positioning the company for long-term value creation.

Guidance

The company reiterated commitments to accelerating growth via strategic pipeline expansion and commercial momentum but did not provide specific financial targets. Forward-looking priorities include leveraging recent FDA approvals, optimizing market access, and advancing proprietary products to drive long-term value.

Additional News

Amphastar secured FDA approval for iron sucrose injection, a key generic product, and inked a licensing agreement with Nanjing Anji Biotechnology to develop novel peptides in high-growth therapeutic areas. Additionally, the company announced a conference call to discuss Q3 results and strategic initiatives, underscoring its focus on innovation and market expansion.

The stock has underperformed the S&P 500 this year, . Analysts remain divided, , implying 27.7% upside from its November 5 closing price.

Key Recent Developments (3 Weeks):

1. FDA Approval: Iron sucrose injection launched in August 2025, expanding access to affordable therapies.

2. Strategic Licensing: Exclusive agreement with Nanjing Anji for three peptides targeting oncology and ophthalmology.

3. Operational Shifts: Assumption of global distribution for BAQSIMI®, transitioning all related revenues to product sales.