Amneal Pharmaceuticals (AMRX): gLanreotide Approval Important Catalyst for Story

On Friday afternoon, AMRX received approval for generic lanreotide and we wanted to share some quick thoughts. Overall the approval was highly anticipated by investors and we see the product as a potentially significant contributor to AMRX growth as we move through 2026 and into 2027. Amneal will be launching the product into a ~$950mm market with the only other generic competitor (Cipla) out of the market due to supply shortages (which we expect to take at least several quarters to resolve). Along these lines, we see lanreotide as an attractive opportunity for the company with our estimates reflecting $65mm in revenues in 2026 and $175mm in revenues in 2027. More broadly on AMRX, we see the company well-positioned to generate sustained HSD topline growth based on a diversified revenue base that includes complex generic launches, biosimilars and Crexont. In the near term, the company is entering a period of accelerated growth in 2H26 and particularly in 2027 driven by affordable medici