Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) ("Amneal" or the "Company"), a diversified, global biopharmaceutical leader focused on expanding access to affordable and innovative medicines, today announced that it has entered into a definitive agreement to acquire 100% of Kashiv BioSciences, LLC ("Kashiv") in a transaction with consideration that includes $375 million of cash and $375 million of equity payable at closing, plus up to $350 million in potential payments based on the achievement of certain regulatory milestones, potential royalties based on commercial milestones, and funding of operations through closing.

Kashiv is among a select group of U.S.-based companies with proven end-to-end biosimilars capabilities across development and manufacturing, and a robust pipeline. This transaction will establish a scaled, fully integrated global biosimilars platform at a pivotal moment, ahead of a more than $300 billion projected global biologics loss-of-exclusivity wave over the next decade, accelerating growth and meaningfully extending and diversifying Amneal's long-term growth profile.

"As biosimilar adoption accelerates and the industry enters an unprecedented period of biologic loss of exclusivity, we see a compelling opportunity to establish leadership and scale in a rapidly expanding market," said Chirag Patel, Co-Founder and Co-Chief Executive Officer of Amneal. "With Kashiv, Amneal becomes a fully integrated global biosimilars leader at the forefront of the next wave of U.S. affordable medicines. This acquisition is a natural next step in our strategy to build a leading, diversified biopharmaceutical company, and we are confident it will drive accelerated growth and long-term value creation."

"This acquisition establishes Amneal as a fully integrated global biosimilar platform at scale," said Chintu Patel, Co-Founder and Co-Chief Executive Officer of Amneal. "By combining Kashiv's deep R&D and manufacturing capabilities with our commercial strength, we are creating a differentiated platform well-positioned to deliver a strong and consistent cadence of biosimilar launches going forward. Together, we will expand access to high-quality, affordable biologic medicines for patients while driving long-term growth."

"We are thrilled to combine Kashiv's highly complementary portfolio and capabilities with Amneal at this critical inflection point for the biosimilar market, particularly in the U.S.," said Dr. Sandeep Athalye, Chief Executive Officer at Kashiv. "Our companies share a deep-rooted commitment to high-quality, complex medicines, and this transaction builds on the meaningful work we have accomplished through our collaboration of more than ten years. We look forward to building on our proven track record of product approvals and advancing our biosimilars pipeline as we work together to expand patient access to life-changing therapies."

The transaction is subject to approval by Amneal shareholders, receipt of regulatory approvals and satisfaction of customary closing conditions, and is expected to close in the second half of 2026.

Compelling Strategic and Financial Benefits:

  • Highly strategic and complementary transaction at a pivotal moment of market inflection. More than $300 billion of global biologics are expected to lose exclusivity over the next decade. As biosimilars expand access to biologics and deliver meaningful savings, adoption is accelerating across physicians, patients and payers. Kashiv's R&D and manufacturing capabilities complement Amneal's commercial scale, creating an integrated leader well positioned to lead in the next wave of affordable medicines.
  • Establishes an integrated biosimilar platform enabling multiple new biosimilars launches each year. The combination enhances speed to market, enables parallel development and commercialization, and enhances Amneal's competitiveness. By 2030, Amneal expects to have more than 12 commercial biosimilars and over 20 more products in the pipeline.
  • Diversifies and extends Amneal's strong, durable growth profile into the 2030s. The transaction expands biosimilars long-term growth within Affordable Medicines, alongside Specialty and AvKARE.
  • Transaction is highly synergistic, with $400M to $500M in expected financial benefits. The transaction reflects a balanced mix of upfront cash and equity, as well as potential success-based consideration over time. There is a minimal impact to the leverage profile and a clear path to deleveraging to below 3x net leverage by 2028. The transaction is expected to provide substantial financial synergies through the elimination of upcoming milestone and royalty obligations through 2030 and unlocks incremental tax and structural benefits over time.

    Amneal Reports Preliminary First Quarter 2026 Results and Raises 2026 Full Year Guidance

    In connection with announcing the transaction, Amneal is reporting certain unaudited preliminary financial results for the first quarter ended March 31, 2026 and raising 2026 full year standalone guidance, reflecting very strong performance and continuing momentum.

"Amneal delivered a very strong start to 2026, reflecting the strength of our diversified business and multiple growth drivers across the portfolio. Our Specialty business continues to perform exceptionally well, led by CREXONT® and the recent launch of BREKIYA® autoinjector, alongside a strong cadence of key launches in Affordable Medicines. We are entering the Kashiv transaction from a position of strength, at a time when we see an extended period of accelerated growth ahead with no shortage of opportunities across our core businesses. Combined with our very strong first quarter results, we are pleased to increase our full year 2026 guidance," said Chirag and Chintu Patel, Co-Founders and Co-Chief Executive Officers of Amneal.