Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Q2 2024 Earnings Conference Call August 9, 2024 8:30 AM ET

Company Participants

Tony DiMeo - Head of Investor Relations
Chirag Patel - President & Co-Chief Executive Officer
Chintu Patel - Co-Chief Executive Officer
Tasos Konidaris - Executive Vice President & Chief Financial Officer
Joe Renda - Senior Vice President & Chief Commercial Officer, Specialty

Conference Call Participants

David Amsellem - Piper Sandler
Leszek Sulewski - Truist Securities

Operator

Good morning and welcome to the Amneal Pharmaceuticals Second Quarter 2024 Earnings Call.

I'd now like to turn the call over to Amneal's Head of Investor Relations, Tony DiMeo.

Tony DiMeo

Good morning and thank you for joining Amneal Pharmaceuticals second quarter 2024 earnings call. Today, we issued a press release reporting Q2 results. The earnings press release and presentation are available at amneal.com.

Certain statements made on this call regarding matters that are not historical facts, including but not limited to, management's outlook or predictions, are forward-looking statements that are based solely on information that is now available to us. Please see the section entitled Cautionary Statements on Forward-Looking Statements for factors that may impact future performance. We also discuss non-GAAP measures. Information on use of these measures and reconciliations to GAAP are in the earnings release and presentation.

On the call today are Chirag and Chintu Patel, Co-Founders and Co-CEOs; Tasos Konidaris, CFO; our commercial leaders Andy Boyer for Generics; Joe Renda for Specialty; and Jason Daly, Chief Legal Officer.

I will now hand the call over to Chirag.

Chirag Patel

Thank you, Tony. Good morning to everyone. We are delighted to report strong Q2 results, raise 2024 guidance and share the recent approval of CREXONT for Parkinson's disease. Today, Amneal is a global diversified pharmaceutical company that provides access to high-quality, affordable and essential medicines for patients, providers and payers. We're a deeply purpose-driven company on a remarkable journey of expanding in key areas of medicine and delivering sustainable long-term growth.

Amneal has grown consistently each of last 5 years. Revenues are up from $1.6 billion in 2019 to over $2.7 billion expected in 2024. Adjusted EBITDA is up from $339 million in 2019 to about $620 million expected in 2024. We could not be more prouder of this progress and the strong foundation we have built.

Let me now discuss how well we are positioned for sustainable growth -- long-term growth in each of our business. Starting with Specialty business, we continue to grow our key branded products in neurology and endocrinology. This week's U.S. approval of CREXONT, formerly known as IPX203, is a watershed moment for Amneal. We are excited to launch CREXONT in September.