Amneal Completes Acquisition of Kashiv BioSciences
The deal knits Kashiv's biosimilars manufacturing and pipeline into Amneal's commercial network, giving the company a platform aimed at more than $300 billion in biologics set to lose patent protection over the next decade.
Amneal Pharmaceuticals, Inc. (AMRX) completed its acquisition of Kashiv BioSciences, LLC, closing a deal first announced in April that creates what the company calls a fully integrated global biosimilars leader.
The transaction, structured with $375 million in cash and $375 million in equity payable at closing plus up to $350 million tied to regulatory milestones, brought together Kashiv's development and manufacturing capabilities with Amneal's commercial distribution network. The deal also carried potential royalties on commercial milestones and funding of Kashiv's operations through closing. It closed in the second half of 2026, consistent with the timeline management laid out at signing.
"The completion of this acquisition marks a pivotal step in Amneal's strategy to become America's #1 Affordable Medicines company," said Chirag Patel, Co-Founder and Co-Chief Executive Officer. Amneal has framed biosimilars as a new growth pillar meant to extend the company's trajectory into the 2030s, positioning it to capture a share of more than $300 billion in global biologics facing loss of exclusivity over the next ten years.
Kashiv is a vertically integrated biopharmaceutical company with commercial and clinical-stage biosimilar assets, and is among a small group of U.S.-based firms that both manufacture and hold marketing authorization for multiple biosimilars, giving Amneal capabilities it lacked at scale. The combination should enable multiple new biosimilar launches each year, with a target of more than 12 commercial biosimilars and over 20 more in the pipeline by 2030.
The deal followed Amneal's April announcement, made alongside preliminary first-quarter results that included raised full-year 2026 guidance, and came as the company continued to report broad-based growth across its Specialty, Affordable Medicines and AvKARE segments through the first half of the year. Management has pointed to $400 million to $500 million in expected financial benefits from the combination, driven in part by the elimination of future milestone and royalty obligations that would otherwise have run through 2030.
The transaction carries minimal impact to its leverage profile, with a stated path to bringing net leverage below 3x by 2028, and net leverage stood at 3.5x as of the first quarter. J.P. Morgan Securities LLC advised Kashiv on the deal, while Simpson Thacher & Bartlett LLP advised Amneal.