Amneal Pharma to buy Kashiv BioSciences in $1.1 billion deal

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)