April 22 (Reuters) – Amneal Pharmaceuticals has agreed to acquire biopharma firm Kashiv BioSciences in a cash-and-stock deal worth up to $1.1 billion that will expand the drugmaker’s biosimilars business.
The deal will create a fully integrated global biosimilars platform, Amneal said on Wednesday, as patents worth more than $300 billion in global biologic drug sales are set to expire over the next decade.
• Under the agreement, Amneal will pay $375 million in cash and $375 million in equity.
• The deal includes up to $350 million in potential payments tied to regulatory milestones, possible royalties and funding of Kashiv’s operations until the transaction closes.
• Kashiv develops and manufactures biosimilar medicines and has a pipeline of copycat versions of biologic drugs.
• Amneal expects the deal will result in financial benefits worth $400 million to $500 million from synergies.
• The transaction is expected to close in the second half of 2026.
• Separately, the New Jersey drugmaker reported preliminary revenue of $723 million for the first quarter, compared with analysts’ estimates of $715.3 million, according to data compiled by LSEG.
• It also raised its 2026 adjusted profit per share forecast to 95 cents to $1.05, from its earlier guidance of 93 cents to $1.03.
• Amneal shares were up 3% in premarket trading.
(Reporting by Siddhi Mahatole in Bengaluru; Editing by Jonathan Ananda)
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