Amneal Pharmaceuticals Inc (AMRX)

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AMRX Covid 19 Friday AH news:AMRX news: Amneal Accelerates Distribution and Production of Hydroxychloroquine Sulfate to Meet Potential Needs of COVID-19 Patients Nationwide
BRIDGEWATER, N.J.--(BUSINESS WIRE)-- Amneal Pharmaceuticals, Inc. (NYSE: AMRX) (“Amneal” or the “Company”), one of the largest U.S.-based generics manufacturers, today announced that it is responding to the national COVID-19 health emergency by building on its existing supply of hydroxychloroquine sulfate.

Amneal is ramping up production of hydroxychloroquine sulfate at several of its manufacturing sites and expects to produce approximately 20 million tablets between now and mid-April. Those tablets will be made available nationwide through Amneal’s existing retail and wholesale customers, as well as through direct sales to larger institutions in need.

“This is a critical time in the fight against COVID-19,” said Chirag and Chintu Patel, Co-Chief Executive Officers. “With our existing supply of hydroxychloroquine sulfate, and the ability to fast-track production, Amneal is well-positioned to help meet the potential demand for patients in need. We are grateful to our employees for working to accelerate production and will continue to do everything we can to support the healthcare needs of our communities.”

Hydroxychloroquine sulfate was first synthesized in 1946 and is in a class of medications historically used to treat and prevent malaria. Today, Amneal’s hydroxychloroquine sulfate tablets are approved by the U.S. Food and Drug Administration (FDA) to treat malaria, rheumatoid arthritis, lupus, childhood arthritis and other autoimmune diseases. Hydroxychloroquine is not approved for the treatment of COVID-19; however, it has been identified as a possible treatment for COVID-19,1 and the U.S. government has requested its immediate availability.

Amneal has already begun shipping product. As a socially responsible company, Amneal will work to ensure its available inventory allocation is widely and evenly distributed to benefit the most patients possible.

About Amneal
Amneal Pharmaceuticals, Inc. (NYSE: AMRX), headquartered in Bridgewater, NJ, is a fully-integrated pharmaceutical company focused on the development, manufacturing and distribution of generic and specialty drug products. The Company has manufacturing operations in North America, Asia, and Europe, working together to bring high-quality medicines to patients primarily within the United States.

Amneal has an extensive portfolio of more than 225 marketed commercial products and is expanding its portfolio to include complex dosage forms, including biosimilars, in a broad range of therapeutic areas. The Company also markets a portfolio of branded pharmaceutical products through its Specialty segment focused principally on central nervous system and endocrine disorders. For more information, visit https://www.amneal.com.

Forward-Looking Statements
Certain statements contained herein, regarding matters that are not historical facts, may be forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995, as amended). Such forward-looking statements include statements regarding management’s intentions, plans, beliefs, expectations or forecasts for the future, including, among other things, future operating results and financial performance, product development and launches, integration strategies and resulting cost reduction, market position and business strategy. Words such as “may,” “will,” “could,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “assume,” “continue,” and similar words are intended to identify estimates and forward-looking statements.

The reader is cautioned not to rely on these forward-looking statements. These forward-looking statements are based on current expectations of future events. If the underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Amneal. A list and descriptions of these risks, uncertainties and other factors can be found in the Company’s most recently filed Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as supplemented by any subsequently filed Quarterly Reports on Form 10-Q. Copies of these filings are available online at www.sec.gov, www.amneal.com or on request from the Company.

Forward-looking statements included herein speak only as of the date hereof and we undertake no obligation to revise or update such statements to reflect the occurrence of events or circumstances after the date hereof, except as otherwise required by United States securities laws.

1 https://www.who.int/blueprint/priority-diseases/key-action/Table_of_therapeutics_Appendix_17022020.pdf?ua=1
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Source: Amneal Pharmaceuticals, Inc.

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