Amneal Shares Up Nearly 50% on FDA Nod for NuvaRing Generic
December 12 2019 - 2:06PM
Dow Jones News
By Colin Kellaher
Shares of Amneal Pharmaceuticals Inc. (AMRX) rose nearly 50% on
Thursday after it received Food and Drug Administration approval
for EluRyng, the first generic version of Merck & Co.'s (MRK)
NuvaRing contraceptive.
The Bridgewater, N.J., pharmaceutical company said it was
manufacturing EluRyng internally and launching the product
Thursday.
Analysts at SVB Leerink said they expect the product will
contribute about $35 million in sales and 2 cents in per-share
earnings to Amneal next year, assuming no capacity constraints.
Shares of Amneal were recently up 49.4% to $5.20.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 12, 2019 13:51 ET (18:51 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Merck (NYSE:MRK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Merck (NYSE:MRK)
Historical Stock Chart
From Apr 2023 to Apr 2024
