Amphastar Pharmaceuticals Inc. (NASDAQ: AMPH) shares are trading at $17.98 in premarket session, rising 3.33 percent. During Friday’s trading, shares of Amphastar stock dropped -0.97% to close at $17.40. The volume of AMPH stock was 0.14 million shares, which was lower than the 0.2 million average daily volume of the last 50 days. Because of FDA approval of Abbreviated New Drug Application (ANDA), AMPH stock is rising.
What approval AMPH has get?
As a biopharmaceutical company, Amphastar focuses primarily on developing, manufacturing, marketing, and selling extremely challenging generic, inhalation, and intranasal products and insulin API products. In hospital or urgent care clinical settings, AMPH finished products are mostly purchased and distributed through group purchasing organizations, as well as drug wholesalers.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Read More
Today, it was recently announced that Amphastar’s Abbreviated New Drug Application (“ANDA”) for Morphine Sulfate injection 1mg/mL in the 30mL Pump-Jet Prefilled Syringe System was approved by the FDA.
Generally, it is indicated for the management of severe pain, requiring patient-controlled analgesia, using the Alaris infusion device, and patients who are not receiving adequate treatment otherwise. The product has been marketed and sold for over 30 years through exclusion to the FDA’s “Prescription Drug Wrap-Up” program. For the year ending December 31, 2020, the AMPH only incurred net revenue of $2.3 million for its Morphine injections.
What does the CEO say?
Amphastar (AMPH) continues to manufacture high-quality injection products as the AMPH gets FDA approval for Morphine injection, said Amphastar’s CEO and President, Dr. Jack Zhang.
