Amneal Pharmaceuticals said it will acquire Kashiv Biosciences in a deal that includes $375 million in cash and $375 million in equity at closing, plus up to $350 million in potential milestone payments and royalties, as it moves to build a larger biosimilars business.
The company said the transaction is expected to close in the second half of 2026. Amneal said the deal will create a fully integrated biosimilars platform and that, by 2030, it expects to have more than 12 commercial biosimilars and more than 20 additional products in the pipeline.
Amneal also reported preliminary first-quarter 2026 results that showed revenue rising to $723 million from $695 million a year earlier, up 4%.
By segment, affordable medicines revenue increased 2% to $423 million from $415 million. Specialty revenue climbed 23% to $133 million from $108 million. AvKARE revenue fell 4% to $166 million from $172 million.
Profitability improved sharply. Gross margin expanded to 44.3% from 36.8%, while adjusted gross margin rose to 48.2% from 43.1%.
Net income more than tripled to $78 million from $25 million. Adjusted EBITDA increased 19% to $202 million from $170 million.
Per-share results also improved. Diluted EPS rose to $0.19 from $0.04, while adjusted diluted EPS increased to $0.27 from $0.21.
Amneal raised its 2026 standalone guidance after the strong quarter, saying the business entered the Kashiv transaction from a position of strength. The market has reacted to these announcements by moving the company's shares -1.63% to a price of $12.06. For the full picture, make sure to review Amneal Pharmaceuticals's 8-K report.
