Amphastar outlined a vertically integrated business model spanning in-house product development, API and component manufacturing, U.S.-based finished product manufacturing, and marketing and distribution. The company reported revenue of 720 million and GAAP net income of 98.1 million in 2025. Amphastar said its projected 2026 pipeline mix is 50% proprietary and 35% biosimilar products. It also cited a $369 million self-funded R&D investment over five years.
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