Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Q1 2022 Earnings Conference Call May 9, 2022 5:00 PM ET

Company Participants

Dan Dischner - VP, Corporate Communications

Bill Peters - CFO

Conference Call Participants

Elliot Wilbur - Raymond James

David Amsellem - Piper Sandler

Tim Chiang - Northland Securities

Operator

Greetings, and welcome to the Amphastar Pharmaceuticals Incorporated First Quarter Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]

Please note that certain statements made during this call regarding matters that are not historical facts, including, but not limited to management’s outlook or predictions for future periods are forward-looking statements. These statements are based solely on information that is now available to us. We encourage you to review the Section entitled forward-looking statements in the press release issued today and the presentation on the company’s website.

Also, please refer to our SEC filings, which can be found on our website and the SEC’s website for a discussion of numerous factors that may impact our future performance. We will also discuss certain non-GAAP measures. Important information on our use of these measures and reconciliations to U.S. GAAP may be found in the earnings release. Please note, this conference call is being recorded. Our speakers today are Mr. Bill Peters, CFO; Mr. Dan Dischner, VP of Corporate Communications.

I will now turn the conference over to your host, Mr. Dan Dischner, Vice President, Corporate Communications. Dan, you may begin.

Dan Dischner

Thank you, operator and good afternoon to everyone joining us for Amphastar Pharmaceuticals first quarter earnings call. After my prepared remarks, I will turn the call over to Bill Peters, our CFO and Executive Vice President of Finance, who will provide an update on the company's financials. We will then open the call to Q&A.

As reported in our financial results earlier, Amphastar had another strong quarter to start 2022, with the continued execution in sales of our commercial portfolio to build a solid base of support. The constant supply of our commercial portfolio has resulted a net revenue of $120.4 million for the first quarter. This represents a 17% increase over the same period in 2021, coupled with sales of higher margin products, which has led to an impressive 24% increase in our bottom line on an annualized basis. We remain optimistic that this momentum will continue as our recently approved Generic Ganirelix AMP-006 is plan to launch in the second quarter. And the final approval and launch of our Generic Vasopressin product in the third quarter further strengthened our commercial portfolio.