Amneal Pharmaceuticals, Inc.
AMRX · Pharmaceutical Preparations · 319.0M shares · +7%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$27M (gross $5K, SBC $27M)
Reference price $12.94 · est. market cap ~$4.1B — last insider sale, 2026-05-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B66Generics + specialty pharma — operationally profitable with strong free cash flow, but high leverage and negative equity.
Strengths
- Operating profit and strong FCF — operating margin 13% (85th), FCF $270M (93rd), ROA 2% (87th)
Risks
- High leverage / negative equity — D/E artifact, ROE -102%
- Thin net margin — 2%
- Generic-pricing pressure — per 10-K
Notable findings
- Negative equityNegative book equity (debt/equity -36.23)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $282M cash & investments
- Revenue declineRevenue -11.3% YoY
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, FMR LLC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 1 open-market sale(s) by 1 insider(s) (~$450,558, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
36.9%
Operating margin
13.1%
Net margin
2.4%
Return on equity
-101.8%
Return on assets
2.0%
ROIC
12.5%
Revenue growth (QoQ)
-11.3%
Debt / equity
-36.2×
Current ratio
2.2×
Free cash flow
$270M
Tangible book value
-$1.2B
Cash & investments
$282M
Stock comp / revenue
1.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-11 | Autor Deborah M. | Sell | 35K | $12.94 |
| 2026-05-07 | Patel Gautam | Option exercise | 35K | — |
| 2026-05-07 | Nark Ted C | Option exercise | 35K | — |
| 2026-05-07 | Yanai Shlomo | Option exercise | 35K | — |
| 2026-05-07 | Autor Deborah M. | Option exercise | 35K | — |
| 2026-05-07 | Kiely John | Option exercise | 35K | — |
| 2026-05-07 | George Jeffrey P. | Option exercise | 35K | — |
| 2026-05-07 | BUCHI J KEVIN | Option exercise | 35K | — |
| 2026-05-07 | MEISTER PAUL M | Option exercise | 49K | — |
| 2026-03-04 | Konidaris Tasos | Option exercise | 44K | — |
| 2026-03-04 | Shah Nikita | Option exercise | 36K | — |
| 2026-03-04 | Konidaris Tasos | Tax withheld | 22K | $13.30 |
| 2026-03-04 | Shah Nikita | Tax withheld | 18K | $13.30 |
| 2026-03-04 | Patel Chintu | Option exercise | 93K | — |
| 2026-03-04 | Patel Chintu | Tax withheld | 29K | $13.30 |
| 2026-03-04 | Daly Jason B. | Option exercise | 36K | — |
| 2026-03-04 | Daly Jason B. | Tax withheld | 16K | $13.30 |
| 2026-03-04 | BOYER ANDREW S | Option exercise | 38K | — |
| 2026-03-04 | BOYER ANDREW S | Tax withheld | 19K | $13.30 |
| 2026-03-04 | Patel Chirag K. | Option exercise | 93K | — |
| 2026-03-04 | Patel Chirag K. | Tax withheld | 38K | $13.30 |
| 2026-03-03 | Konidaris Tasos | Tax withheld | 14K | $13.31 |
| 2026-03-03 | Konidaris Tasos | Option exercise | 459K | — |
| 2026-03-03 | Konidaris Tasos | Tax withheld | 230K | $13.31 |
| 2026-03-03 | BOYER ANDREW S | Option exercise | 39K | — |
| 2026-03-03 | BOYER ANDREW S | Tax withheld | 20K | $13.31 |
| 2026-03-03 | BOYER ANDREW S | Option exercise | 50K | — |
| 2026-03-03 | BOYER ANDREW S | Tax withheld | 25K | $13.31 |
| 2026-03-03 | BOYER ANDREW S | Option exercise | 24K | — |
| 2026-03-03 | BOYER ANDREW S | Tax withheld | 12K | $13.31 |
| 2026-03-03 | BOYER ANDREW S | Option exercise | 398K | — |
| 2026-03-03 | BOYER ANDREW S | Tax withheld | 199K | $13.31 |
| 2026-03-03 | Shah Nikita | Option exercise | 36K | — |
| 2026-03-03 | Shah Nikita | Tax withheld | 19K | $13.31 |
| 2026-03-03 | Shah Nikita | Option exercise | 46K | — |
| 2026-03-03 | Shah Nikita | Tax withheld | 23K | $13.31 |
| 2026-03-03 | Shah Nikita | Option exercise | 24K | — |
| 2026-03-03 | Shah Nikita | Tax withheld | 12K | $13.31 |
| 2026-03-03 | Shah Nikita | Option exercise | 367K | — |
| 2026-03-03 | Shah Nikita | Tax withheld | 184K | $13.31 |
| 2026-03-03 | Patel Chirag K. | Tax withheld | 298K | $13.31 |
| 2026-03-03 | Patel Chintu | Option exercise | 60K | — |
| 2026-03-03 | Patel Chintu | Tax withheld | 17K | $13.31 |
| 2026-03-03 | Patel Chintu | Option exercise | 734K | — |
| 2026-03-03 | Patel Chintu | Tax withheld | 316K | $13.31 |
| 2026-03-03 | Patel Chirag K. | Option exercise | 60K | — |
| 2026-03-03 | Patel Chirag K. | Tax withheld | 16K | $13.31 |
| 2026-03-03 | Patel Chirag K. | Option exercise | 734K | — |
| 2026-03-03 | Daly Jason B. | Option exercise | 23K | — |
| 2026-03-03 | Daly Jason B. | Tax withheld | 10K | $13.31 |
| 2026-03-03 | Daly Jason B. | Option exercise | 38K | — |
| 2026-03-03 | Daly Jason B. | Tax withheld | 17K | $13.31 |
| 2026-03-03 | Daly Jason B. | Option exercise | 24K | — |
| 2026-03-03 | Daly Jason B. | Tax withheld | 11K | $13.31 |
| 2026-03-03 | Daly Jason B. | Option exercise | 306K | — |
| 2026-03-03 | Daly Jason B. | Tax withheld | 133K | $13.31 |
| 2026-03-03 | Konidaris Tasos | Option exercise | 45K | — |
| 2026-03-03 | Konidaris Tasos | Tax withheld | 16K | $13.31 |
| 2026-03-03 | Konidaris Tasos | Option exercise | 57K | — |
| 2026-03-03 | Konidaris Tasos | Tax withheld | 24K | $13.31 |
| 2026-03-03 | Konidaris Tasos | Option exercise | 29K | — |
| 2025-11-17 | Nark Ted C | Sell | 50K | $11.72 |
| 2025-11-12 | Shah Nikita | Option exercise | 36K | $2.75 |
| 2025-11-12 | Shah Nikita | Option exercise | 96K | $2.75 |
| 2025-11-12 | Shah Nikita | Sell | 132K | $11.92 |
| 2025-08-27 | Kiely John | Sell | 32K | $9.23 |
| 2025-08-25 | Shah Nikita | Sell | 6.3K | $9.50 |
| 2025-08-22 | Shah Nikita | Sell | 114K | $9.66 |
| 2025-08-20 | BOYER ANDREW S | Option exercise | 175K | $2.75 |
| 2025-08-20 | BOYER ANDREW S | Sell | 279K | $9.38 |
| 2025-08-15 | Konidaris Tasos | Sell | 219K | $9.43 |
| 2025-08-14 | Shah Nikita | Sell | 72K | $9.29 |
| 2025-08-14 | Konidaris Tasos | Sell | 119K | $9.30 |
| 2025-08-13 | Konidaris Tasos | Sell | 161K | $9.22 |
| 2025-08-12 | Daly Jason B. | Sell | 22K | $9.05 |
| 2025-08-12 | Shah Nikita | Sell | 50K | $9.04 |
| 2025-08-12 | BOYER ANDREW S | Sell | 33K | $9.05 |
| 2025-06-16 | Patel Gautam | Sell | 95K | $8.02 |
| 2025-06-10 | Patel Gautam | Sell | 56K | $8.02 |
| 2025-05-16 | Shah Nikita | Sell | 49K | $7.58 |
| 2025-05-12 | Kiely John | Sell | 50K | $7.59 |
| 2025-05-05 | Nark Ted C | Option exercise | 40K | — |
| 2025-05-05 | Kiely John | Option exercise | 40K | — |
| 2025-05-05 | George Jeffrey P. | Option exercise | 40K | — |
| 2025-05-05 | Alva Emily Peterson | Option exercise | 40K | — |
| 2025-05-05 | Patel Gautam | Option exercise | 40K | — |
| 2025-05-05 | MEISTER PAUL M | Option exercise | 56K | — |
| 2025-05-05 | BUCHI J KEVIN | Option exercise | 40K | — |
| 2025-05-05 | Yanai Shlomo | Option exercise | 40K | — |
| 2025-05-05 | Autor Deborah M. | Option exercise | 40K | — |
| 2025-05-05 | Patel Gautam | Sell | 4.9K | $8.00 |
| 2025-05-02 | Patel Gautam | Sell | 3.8K | $8.00 |
| 2025-04-01 | Patel Gautam | Sell | 80K | $8.30 |
| 2025-03-14 | Patel Tushar Bhikhubhai | Sell | 5.0M | $8.35 |
| 2025-03-10 | BUCHI J KEVIN | Gift | 262K | — |
| 2025-03-06 | Daly Jason B. | Sell | 47K | $8.73 |
| 2025-03-05 | BOYER ANDREW S | Sell | 125K | $8.89 |
| 2025-03-05 | Alva Emily Peterson | Sell | 80K | $8.90 |
| 2025-03-05 | Daly Jason B. | Sell | 43K | $8.88 |
| 2025-03-05 | Konidaris Tasos | Sell | 100K | $8.91 |
| 2025-03-04 | Patel Chintu | Tax withheld | 47K | $8.84 |
| 2025-03-04 | Daly Jason B. | Option exercise | 36K | — |
| 2025-03-04 | Daly Jason B. | Tax withheld | 16K | $8.84 |
| 2025-03-04 | BOYER ANDREW S | Option exercise | 38K | — |
| 2025-03-04 | BOYER ANDREW S | Tax withheld | 20K | $8.84 |
| 2025-03-04 | Konidaris Tasos | Option exercise | 44K | — |
| 2025-03-04 | Konidaris Tasos | Tax withheld | 22K | $8.84 |
| 2025-03-04 | Patel Chirag K. | Option exercise | 93K | — |
| 2025-03-04 | Patel Chirag K. | Tax withheld | 47K | $8.84 |
| 2025-03-04 | Patel Chintu | Option exercise | 93K | — |
| 2025-03-04 | Shah Nikita | Option exercise | 36K | — |
| 2025-03-04 | Shah Nikita | Tax withheld | 18K | $8.84 |
| 2025-03-03 | BOYER ANDREW S | Tax withheld | 25K | $8.76 |
| 2025-03-03 | BOYER ANDREW S | Tax withheld | 80K | $8.76 |
| 2025-03-03 | Daly Jason B. | Tax withheld | 6.9K | $8.76 |
| 2025-03-03 | Daly Jason B. | Option exercise | 38K | — |
| 2025-03-03 | Daly Jason B. | Tax withheld | 11K | $8.76 |
| 2025-03-03 | Daly Jason B. | Option exercise | 91K | — |
| 2025-03-03 | Daly Jason B. | Tax withheld | 31K | $8.76 |
| 2025-03-03 | BOYER ANDREW S | Option exercise | 39K | — |
| 2025-03-03 | BOYER ANDREW S | Tax withheld | 20K | $8.76 |
| 2025-03-03 | BOYER ANDREW S | Option exercise | 50K | — |
| 2025-03-03 | BOYER ANDREW S | Option exercise | 157K | — |
| 2025-03-03 | Konidaris Tasos | Option exercise | 45K | — |
| 2025-03-03 | Konidaris Tasos | Tax withheld | 16K | $8.76 |
| 2025-03-03 | Konidaris Tasos | Option exercise | 57K | — |
| 2025-03-03 | Konidaris Tasos | Tax withheld | 24K | $8.76 |
| 2025-03-03 | Konidaris Tasos | Option exercise | 181K | — |
| 2025-03-03 | Konidaris Tasos | Tax withheld | 93K | $8.76 |
| 2025-03-03 | Patel Chirag K. | Option exercise | 580K | — |
| 2025-03-03 | Patel Chirag K. | Tax withheld | 280K | $8.76 |
| 2025-03-03 | Patel Chintu | Option exercise | 580K | — |
| 2025-03-03 | Patel Chintu | Tax withheld | 274K | $8.76 |
| 2025-03-03 | Daly Jason B. | Option exercise | 23K | — |
| 2025-03-03 | Patel Gautam | Sell | 80K | $8.90 |
| 2025-03-03 | Shah Nikita | Option exercise | 36K | — |
| 2025-03-03 | Shah Nikita | Tax withheld | 19K | $8.76 |
| 2025-03-03 | Shah Nikita | Option exercise | 46K | — |
| 2025-03-03 | Shah Nikita | Tax withheld | 23K | $8.76 |
| 2025-03-03 | Shah Nikita | Option exercise | 145K | — |
| 2025-03-03 | Shah Nikita | Tax withheld | 74K | $8.76 |
| 2025-03-01 | BOYER ANDREW S | Option exercise | 31K | — |
| 2025-03-01 | BOYER ANDREW S | Tax withheld | 12K | $8.67 |
| 2025-03-01 | Konidaris Tasos | Tax withheld | 13K | $8.67 |
| 2025-03-01 | Shah Nikita | Option exercise | 29K | — |
| 2025-03-01 | Shah Nikita | Tax withheld | 11K | $8.67 |
| 2025-03-01 | Konidaris Tasos | Option exercise | 36K | — |
| 2025-02-03 | Patel Gautam | Sell | 80K | $8.14 |
| 2025-01-08 | Patel Gautam | Sell | 63K | $8.01 |
| 2025-01-02 | Patel Gautam | Sell | 17K | $8.01 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT06267274 ↗ | A Randomized, Double-blind, Parallel-group, Two-arm, Multiple Dose, Multicenter, Bioequivalence Study With Clinical Endpoint in the Treatment of Subjects With Chronic Open-angle Glaucoma or Ocular Hypertension in Both Eyes Open-angle Glaucoma, Ocular Hypertension | PHASE1 | Recruiting | 2025-03-01 |
| NCT02110368 ↗ | Bioequivalence Study of Test and Reference Testosterone Topical Gel, 1.62% Metered Pump in Testosterone Deficient Adult Male Subjects Under Fasting Conditions Primary Hypogonadism, Hypogonadotropic Hypogonadism | PHASE3 | Completed | 2014-03-01 |
| NCT01064024 ↗ | Evaluate the Safety and Efficacy of Phenazopyridine Hydrochloride Tablets, USP 200 mg vs. Placebo Pain, Urinary Tract Infections | PHASE3 | Completed | 2010-12-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-05-07 | Shareholder vote | filing ↗ |
| 2026-04-22 | Material agreementResults3.02Reg FDExhibits | filing ↗ |
| 2026-02-27 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-03 | Material agreementDebt obligation | filing ↗ |
| 2026-01-28 | Other | filing ↗ |
| 2026-01-13 | ResultsReg FD | filing ↗ |
| 2025-10-30 | ResultsReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-05-07 | 2026-03-31 | 0001723128-26-000020 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001723128-26-000019 ↗ |
| 8-K | 2026-05-07 | 2026-05-06 | 0001628280-26-032137 ↗ |
| 8-K | 2026-04-22 | 2026-04-22 | 0001193125-26-168231 ↗ |
| 10-K | 2026-02-27 | 2025-12-31 | 0001723128-26-000011 ↗ |
| 8-K | 2026-02-27 | 2026-02-27 | 0001723128-26-000008 ↗ |
| 8-K | 2026-02-03 | 2026-02-02 | 0001628280-26-004738 ↗ |
| 8-K | 2026-01-28 | 2026-01-23 | 0001628280-26-003842 ↗ |
| 8-K | 2026-01-13 | 2026-01-13 | 0001723128-26-000003 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001723128-25-000062 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0001723128-25-000059 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001723128-25-000047 ↗ |