Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Q3 2023 Earnings Conference Call November 8, 2023 5:00 PM ET
Company Participants
Dan Dischner - SVP of Corporate Communications
Bill Peters - CFO
Conference Call Participants
Glen Santangelo - Jefferies
Tim Chiang - Capital One
Operator
Greetings and welcome to the Amphastar Pharmaceuticals Third Quarter Earnings Conference Call. [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 company - 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 our earnings release. Please note, this conference call is being recorded.
Our speakers today are Mr. Bill Peters, CFO; Mr. Dan Dischner, Senior Vice President of Corporate Communications; and Mr. Tony Marrs, Ex-Vice President of Regulatory Affairs and Clinical Operations.
I will now turn the conference over to your host, Mr. Dan Dischner, Senior Vice President of Corporate Communications. Dan, you may begin.
Dan Dischner
Thank you, Paul. Good afternoon and thank you all for joining us today on our third quarter earnings call of 2023.
Joining me today will be Bill Peters, CFO and Executive Vice President of Finance; and Tony Marrs, Executive Vice President of Regulatory Affairs and Clinical Operations.
2023 has been characterized by maintaining the momentum of our key high margin products by fulfilling our commitment by advancing our portfolio's proprietary biosimilar and complex product segments.
In terms of sales, the third quarter ended with a $180.5 million in revenue, representing a 50% increase on an annualized basis with the added net sales of our recently acquired proprietary products BAQSIMI. And the continued strength of our core products specifically glucagon, Primatene Mist, and epinephrine. Since we closed the BAQSIMI acquisition on June 30, we've been working hard transferring operations in 27 countries worldwide.
On October 1, we began marketing the product in the United States using a contract sales force combined with our internal sales team. Around the world, we have signed agreements with third-party logistics and local companies to help us set up the needed distribution networks. We have already transferred the NDA in the United States to Amphastar and we are working on transferring the marketing authorizations in other countries as quickly as possible.