ALYMSYS and RELUEKO launched in Q4 2022 and FYLNETRA launched in May. Third, in biosimilars, our first three oncology products are seeing strong uptake, particularly ALYMSYS, which is running ahead of our expectations. As we ramp up production at our new facilities and launch new products, we expect the next inflection of injectables revenue in 2024 building to over $300 million by 2025. With our recently added sites, we now have 4 injectable facilities to produce at scale across multiple formulations. Currently, we have about 30 injectables with over 30 new launches planned by 2025. Our strategy centers on being a key supplier of an expanding portfolio and offering a resilient supply chain in a market plagued by product shortages. ![]() Second, in injectables, our goal is to be a top 5 U.S. As shown on the catalyst slide, we expect to advance over a dozen high-value complex generics to the finish line by 2024. As we have discussed, complex generics tend to have less competitors and drive more durable growth, revenues and profit. So, first, in retail generics, we are expanding our portfolio of approximately 230 products to move up the value chain of complexity. And we expect that mix shift will continue. Approximately 55% of a generics revenue is expected to come from complex products in 2023 compared to 35% in 2019. We expect Generics revenue growth will accelerate over the next several years, driven by complex products. In the Generics segment, we have retail generics, injectables, biosimilars and international business. Let me now walk through how we are executing our strategy across the business. Based on the strength of our diversified portfolio, robust capabilities and opportunities ahead, Amneal is well positioned to drive sustainable long-term growth, accelerate profitability and continue deleveraging. Further, we have reduced net leverage from 7.4x in 2019 to 4.9x currently, well on our way to below 4x by the year 2025. ![]() We have delivered strong financial performance each year since 2019 as revenues have grown 10% and adjusted EBITDA has grown 12% on a CAGR basis. Today, Amneal has a diversified portfolio of approximately 270 marketed products, an industry-leading R&D engine, excellent commercial capabilities, a foothold in key global markets and significant growth catalysts ahead. Since then, we have methodically executed our long-term strategy to expand into high-growth and high-impact areas. At that time, we stated our goal was to return Amneal to growth and build a world-class diversified pharmaceutical company, driven by our purpose to provide access to high-quality and affordable essential medicines. On a personal note, this earnings call marks 4 years since Chintu and I returned to Amneal as Co-CEOs. As a result of our solid momentum in the first half, we are pleased to be raising our full year 2023 guidance. Q2 was another strong quarter with $599 million of revenue, growing 7%, adjusted EBITDA of $146 million, growing 9% and net leverage at 4.9x. Thank you, Tony, and good morning, everyone. ![]() 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 Harsher Singh for Biosciences and Jason Daly, Chief Legal Officer. Information on our use of these measures in reconciliation to U.S. Please see the section entitled Cautionary Statements on Forward-Looking Statements in the earnings presentation and our SEC filings for a discussion of factors that may impact our future performance. 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. Our Q2 earnings press release and presentation are available at. Good morning, and thank you for joining Amneal Pharmaceuticals second quarter 2023 earnings call. ![]() I will now hand over to your host, Anthony DiMeo, Head of Investor Relations. My name is Bruno, and I’ll be operating your call today. Hello, everyone and welcome to the Amneal Pharmaceuticals Second Quarter 2023 Earnings Conference Call. Tasos Konidaris - Chief Financial Officer ( NYSE: AMRX) Q2 2023 Earnings Conference Call Aug8:30 AM ETĬhirag Patel - Co-Founder and Co-Chief Executive OfficerĬhintu Patel - Co-Founder and Co- Co-Chief Executive Officer
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