Amphastar hits BAQSIMI sales milestone, triggering $100 million payment to Lilly

Amphastar Pharmaceuticals disclosed in its second-quarter 2026 results that it achieved the first annual net sales milestone under its asset purchase agreement with Eli Lilly & Company for BAQSIMI, with sales of $175.0 million for the contract year, a milestone that triggers a $100.0 million payment to Lilly due in the third quarter of 2026.¹

On the commercial side, the company said ipratropium bromide sales were $8.4 million following a successful launch in April 2026.¹ Growth in other products was also tied to recent launches: the company said sales gains came primarily from recently launched products, with iron sucrose sales rising $3.5 million and teriparatide sales rising $4.5 million, products launched in August 2025 and December 2025 respectively.¹ Albuterol sales also grew, driven by higher unit volumes as the product continued to gain traction since its August 2024 launch.¹

On pipeline, Amphastar disclosed that it has one abbreviated new drug application and one biosimilar insulin candidate on file with the FDA, aimed at a combined market the company estimates at over $1.6 billion, plus two biosimilar candidates still in development targeting a market it estimates above $3.5 billion, and three generic candidates targeting a market it puts above $1.2 billion.¹ That sizing is based on IQVIA data for the 12 months ended June 30, 2026, supplemented in one case by data from the branded company.¹ The company also said its proprietary pipeline now includes four recently in-licensed compounds: three proprietary peptides aimed at oncology and ophthalmology, plus a fully synthetic corticotropin compound aimed at inflammatory and autoimmune disease.¹

On cash, Amphastar said operating activities generated $99.2 million in cash for the six months ended June 30, 2026.¹ Net revenues for the quarter were $183.9 million, up from $174.4 million a year earlier.