AMNEAL PHARMACEUTICALS, INC., 10-Q filed on 5/6/2022
Quarterly Report
v3.22.1
Cover - shares
 3 Months Ended
Mar. 31, 2022
Apr. 25, 2022
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2022  
Document Transition Report false  
Entity File Number 001-38485  
Entity Registrant Name Amneal Pharmaceuticals, Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 32-0546926  
Entity Address, Address Line One 400 Crossing Boulevard,  
Entity Address, City or Town Bridgewater  
Entity Address, State or Province NJ  
Entity Address, Postal Zip Code 08807  
City Area Code 908  
Local Phone Number 947-3120  
Title of 12(b) Security Class A Common Stock, par value $0.01 per share  
Trading Symbol AMRX  
Security Exchange Name NYSE  
Entity Current Reporting Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001723128  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2022  
Document Fiscal Period Focus Q1  
Amendment Flag false  
Class A Common Stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding (in shares)   150,807,252
Class B Common Stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding (in shares)   152,116,890
v3.22.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Income Statement [Abstract]    
Net revenue $ 497,633 $ 493,105
Cost of goods sold 323,062 301,543
Gross profit 174,571 191,562
Selling, general and administrative 98,665 90,726
Research and development 52,798 48,182
Intellectual property legal development expenses 764 3,582
Acquisition, transaction-related and integration expenses 434 2,802
Credit related to legal matters, net (2,326) 0
Restructuring and other charges 731 363
Change in fair value of contingent consideration 200 0
Operating income 23,305 45,907
Other (expense) income:    
Interest expense, net (33,335) (33,885)
Foreign exchange (loss) gain, net (2,013) 2,088
Other income, net 2,122 794
Total other expense, net (33,226) (31,003)
(Loss) income before income taxes (9,921) 14,904
(Benefit from) provision for income taxes (3,461) 359
Net (loss) income (6,460) 14,545
Less: Net loss (income) attributable to non-controlling interests 4,742 (7,839)
Net (loss) income attributable to Amneal Pharmaceuticals, Inc. before accretion of redeemable non-controlling interest (1,718) 6,706
Accretion of redeemable non-controlling interest (438) 0
Net (loss) income attributable to Amneal Pharmaceuticals, Inc. $ (2,156) $ 6,706
Net (loss) income per share attributable to Amneal Pharmaceuticals, Inc.'s class A common stockholders:    
Basic (in dollars per share) $ (0.01) $ 0.05
Diluted (in dollars per share) $ (0.01) $ 0.04
Weighted-average common shares outstanding:    
Basic (in shares) 149,892 148,013
Diluted (in shares) 149,892 151,220
v3.22.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Statement of Other Comprehensive Income [Abstract]    
Net (loss) income $ (6,460) $ 14,545
Less: Net loss (income) attributable to non-controlling interests 4,742 (7,839)
Net (loss) income attributable to Amneal Pharmaceuticals, Inc. before accretion of redeemable non-controlling interest (1,718) 6,706
Accretion of redeemable non-controlling interest (438) 0
Net (loss) income attributable to Amneal Pharmaceuticals, Inc. (2,156) 6,706
Other comprehensive (loss) income:    
Foreign currency translation adjustments arising during the period (4,079) (6,366)
Unrealized gain on cash flow hedge, net of tax 53,624 20,772
Less: Other comprehensive income attributable to non-controlling interests (24,955) (7,302)
Other comprehensive income attributable to Amneal Pharmaceuticals, Inc. 24,590 7,104
Comprehensive income attributable to Amneal Pharmaceuticals, Inc. $ 22,434 $ 13,810
v3.22.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 210,477 $ 247,790
Restricted cash 6,068 8,949
Trade accounts receivable, net 538,309 662,583
Inventories 512,241 489,389
Prepaid expenses and other current assets 121,408 110,218
Related party receivables 1,175 1,179
Total current assets 1,389,678 1,520,108
Property, plant and equipment, net 500,911 514,158
Goodwill 602,893 593,017
Intangible assets, net 1,209,818 1,166,922
Other assets 63,943 20,614
Total assets 3,888,968 3,939,664
Current liabilities:    
Accounts payable and accrued expenses 539,734 583,345
Current portion of long-term debt, net 30,523 30,614
Related party payables - short term 15,960 47,861
Total current liabilities 602,043 677,243
Long-term debt, net 2,672,661 2,680,053
Note payable - related party 38,443 38,038
Related party payables - long term 10,371 9,619
Other long-term liabilities 32,866 38,903
Total long-term liabilities 2,863,098 2,878,541
Commitments and contingencies (Notes 5 and 13)
Redeemable non-controlling interests 16,420 16,907
Stockholders' Equity    
Preferred stock, $0.01 par value, 2,000 shares authorized, none issued at both March 31, 2022 and December 31, 2021 0 0
Additional paid-in capital 666,799 658,350
Stockholders' accumulated deficit (278,353) (276,197)
Accumulated other comprehensive loss (349) (24,827)
Total Amneal Pharmaceuticals, Inc. stockholders' equity 391,125 360,340
Non-controlling interests 16,282 6,633
Total stockholders' equity 407,407 366,973
Total liabilities and stockholders' equity $ 3,888,968 $ 3,939,664
Preferred stock, shares issued (in shares) 0 0
Class A Common Stock    
Stockholders' Equity    
Common stock $ 1,506 $ 1,492
Class B Common Stock    
Stockholders' Equity    
Common stock 1,522 1,522
Excluding Related Party    
Current assets:    
Operating lease right-of-use assets 37,675 39,899
Financing lease right-of-use assets 64,204 64,475
Current liabilities:    
Current portion of operating lease liabilities 9,901 9,686
Current portion of financing lease liabilities 3,233 3,101
Operating lease liabilities 30,378 32,894
Financing lease liabilities 60,286 60,251
Related Party    
Current assets:    
Operating lease right-of-use assets 19,846 20,471
Current liabilities:    
Current portion of operating and financing lease liabilities - related party 2,692 2,636
Operating lease liabilities $ 18,093 $ 18,783
v3.22.1
Consolidated Balance Sheets (Parenthetical) - $ / shares
Mar. 31, 2022
Dec. 31, 2021
Preferred stock, par value (in usd per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 2,000,000 2,000,000
Preferred stock, shares issued (in shares) 0 0
Class A Common Stock    
Common stock, par value (in usd per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 900,000,000 900,000,000
Common stock, shares issued (in shares) 150,775,000 149,413,000
Class B Common Stock    
Common stock, par value (in usd per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 300,000,000 300,000,000
Common stock, shares issued (in shares) 152,117,000 152,117,000
v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net (loss) income $ (6,460) $ 14,545
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 57,815 55,549
Unrealized foreign currency loss (gain) 3,140 (1,970)
Amortization of debt issuance costs and discount 2,195 2,183
Stock-based compensation 8,065 5,330
Inventory provision 3,578 16,021
Change in fair value of contingent consideration 200 0
Other operating charges and credits, net 1,155 1,431
Changes in assets and liabilities:    
Trade accounts receivable, net 124,268 108,385
Inventories (25,549) (20,283)
Prepaid expenses, other current assets and other assets (4,423) 602
Related party receivables 4 301
Accounts payable, accrued expenses and other liabilities (48,777) (37,226)
Related party payables 5,132 3,260
Net cash provided by operating activities 120,343 148,128
Cash flows from investing activities:    
Purchases of property, plant and equipment (10,793) (11,776)
Deposits for future acquisition of property, plant, and equipment (1,888) (917)
Acquisition of business (84,714) 0
Net cash used in investing activities (97,395) (12,693)
Cash flows from financing activities:    
Payments of principal on debt, financing leases and other (9,796) (23,630)
Proceeds from exercise of stock options 111 676
Employee payroll tax withholding on restricted stock unit vesting (3,001) (2,102)
Tax distributions to non-controlling interests (3,164) 0
Acquisition of redeemable non-controlling interest (1,722) 0
Payments of deferred consideration for acquisitions - related party (43,998) 0
Payments of principal on financing lease - related party 0 (93)
Repayment of related party note 0 (1,000)
Net cash used in financing activities (61,570) (26,149)
Effect of foreign exchange rate on cash (1,572) (593)
Net (decrease) increase in cash, cash equivalents, and restricted cash (40,194) 108,693
Cash, cash equivalents, and restricted cash - beginning of period 256,739 347,121
Cash, cash equivalents, and restricted cash - end of period 216,545 455,814
Cash and cash equivalents - end of period 210,477 452,097
Restricted cash - end of period 6,068 3,717
Supplemental disclosure of cash flow information:    
Cash paid for interest 27,289 29,917
Cash paid for income taxes, net 4,387 733
Supplemental disclosure of non-cash investing and financing activity:    
Tax distributions to non-controlling interests 3,284 9,757
Contingent consideration for acquisition $ 8,796 $ 0
v3.22.1
Consolidated Statement of Stockholders' Equity - USD ($)
$ in Thousands
Total
Subsequent To Combination
Common Stock
Class A Common Stock
Common Stock
Class B Common Stock
Additional Paid-in Capital
Stockholders' Accumulated Deficit
Accumulated Other Comprehensive Loss
Non- Controlling Interests
Non- Controlling Interests
Subsequent To Combination
Shares beginning balance (in shares) at Dec. 31, 2020     147,674,000 152,117,000          
Stockholders' equity beginning balance at Dec. 31, 2020 $ 344,932   $ 1,475 $ 1,522 $ 628,413 $ (286,821) $ (41,318) $ 41,661  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net (loss) income 12,749         6,706   6,043  
Foreign currency translation adjustments (6,366)           (3,139) (3,227)  
Stock-based compensation 5,330       5,330        
Exercise of stock options (in shares)     244,000            
Exercise of stock options 676   $ 2   677   (34) 31  
Restricted stock unit vesting, net of shares withheld to cover payroll taxes (in shares)     797,000            
Restricted stock unit vesting, net of shares withheld to cover payroll taxes (2,149)   $ 8   64   (113) (2,108)  
Unrealized gain on cash flow hedge, net of tax 20,772           10,243 10,529  
Tax distributions, net   $ (9,236)             $ (9,236)
Shares ending balance (in shares) at Mar. 31, 2021     148,715,000 152,117,000          
Stockholders' equity ending balance at Mar. 31, 2021 366,708   $ 1,485 $ 1,522 634,484 (280,115) (34,361) 43,693  
Redeemable Non-Controlling Interests, beginning balance at Dec. 31, 2020 11,804                
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Net (loss) income 1,796                
Tax distributions, net (521)                
Redeemable Non-Controlling Interests, ending balance at Mar. 31, 2021 13,079                
Shares beginning balance (in shares) at Dec. 31, 2021     149,413,000 152,117,000          
Stockholders' equity beginning balance at Dec. 31, 2021 366,973   $ 1,492 $ 1,522 658,350 (276,197) (24,827) 6,633  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net (loss) income (8,817)         (1,718)   (7,099)  
Foreign currency translation adjustments (4,079)           (2,024) (2,055)  
Stock-based compensation 8,065       8,065        
Exercise of stock options (in shares)     7,000            
Exercise of stock options 111       65     46  
Restricted stock unit vesting, net of shares withheld to cover payroll taxes (in shares)     1,355,000            
Restricted stock unit vesting, net of shares withheld to cover payroll taxes (3,144)   $ 14   319   (112) (3,365)  
Unrealized gain on cash flow hedge, net of tax 53,624           26,614 27,010  
Tax distributions, net   $ (4,443)             $ (4,443)
Reclassification of redeemable non-controlling interest (883)         (438)   (445)  
Shares ending balance (in shares) at Mar. 31, 2022     150,775,000 152,117,000          
Stockholders' equity ending balance at Mar. 31, 2022 407,407   $ 1,506 $ 1,522 $ 666,799 $ (278,353) $ (349) $ 16,282  
Redeemable Non-Controlling Interests, beginning balance at Dec. 31, 2021 16,907                
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Net (loss) income 2,357                
Tax distributions, net (2,005)                
Reclassification of redeemable non-controlling interest 883                
Acquisition of redeemable non-controlling interest (1,722)                
Redeemable Non-Controlling Interests, ending balance at Mar. 31, 2022 $ 16,420                
v3.22.1
Nature of Operations
 3 Months Ended
Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature of Operations Nature of Operations
Amneal Pharmaceuticals, Inc. (the “Company”) is a pharmaceutical company specializing in developing, manufacturing, marketing and distributing high-value generic and branded specialty pharmaceutical products across a broad array of dosage forms and therapeutic areas. The Company operates principally in the United States, India, and Ireland, and sells to wholesalers, distributors, hospitals, chain pharmacies and individual pharmacies, either directly or indirectly. The Company is a holding company, whose principal assets are common units (“Amneal Common Units”) of Amneal Pharmaceuticals, LLC (“Amneal”).
In 2018, Amneal completed the acquisition of Impax Laboratories, Inc. (“Impax”), a generic and specialty pharmaceutical company. In 2020, Amneal acquired a 65.1% controlling interest in both AvKARE Inc., a Tennessee corporation now a limited liability company (“AvKARE, LLC”), and Dixon-Shane, LLC d/b/a R&S Northeast LLC, a Kentucky limited liability company (“R&S”) (collectively, the “Rondo Acquisitions”). AvKARE, LLC is one of the largest private label providers of generic pharmaceuticals in the U.S. federal agency sector, primarily focused on serving the Department of Defense and the Department of Veterans Affairs. R&S is a national pharmaceutical wholesaler focused primarily on offering 340b-qualified entities products to provide consistency in care and pricing.
The group of investors, together with their affiliates and certain assignees, who owned Amneal when it was a private company (the “Members”) held 50.2% of Amneal Common Units and the Company held the remaining 49.8% as of March 31, 2022.
v3.22.1
Summary of Significant Accounting Policies
 3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Basis of Presentation
The accompanying unaudited consolidated financial statements, which are prepared in accordance with generally accepted accounting principles in the United States of America, should be read in conjunction with Amneal’s annual audited financial statements for the year ended December 31, 2021 included in the Company’s 2021 Annual Report on Form 10-K. Certain information and footnote disclosures normally included in annual financial statements have been omitted from the accompanying unaudited consolidated financial statements. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company's financial position as of March 31, 2022, cash flows for the three months ended March 31, 2022 and 2021 and the results of its operations, its comprehensive income and its changes in stockholders’ equity for the three months ended March 31, 2022 and 2021. The consolidated balance sheet data at December 31, 2021 was derived from the Company’s audited annual financial statements, but does not include all disclosures required by generally accepted accounting principles in the United States of America.
Except for the updates included in this Note, the accounting policies of the Company are set forth in Note 2. Summary of Significant Accounting Policies contained in the Company’s 2021 Annual Report on Form 10-K.
Use of Estimates
The preparation of financial statements requires the Company's management to make estimates and assumptions that affect the reported financial position at the date of the financial statements and the reported results of operations during the reporting period. Such estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses, and disclosure of contingent assets and liabilities in the consolidated financial statements and accompanying notes. The following are some, but not all, of such estimates: the determination of chargebacks, sales returns, rebates, billbacks, valuation of intangible and other assets acquired in business combinations, allowances for accounts receivable, accrued liabilities, initial and subsequent valuation of contingent consideration recognized in business combinations, stock-based compensation, valuation of inventory balances, the determination of useful lives for product rights and the assessment of expected cash flows used in evaluating goodwill and other long-lived assets for impairment. Actual results could differ from those estimates.
Recently Issued Accounting Pronouncements
In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides elective amendments for entities that have contracts, hedging relationships and other transactions that reference
LIBOR or another reference rate expected to be discontinued because of reference rate reform.  These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848), to expand and clarify the scope of Topic 848 to include derivative instruments on discounting transactions. The amendments in this ASU are effective in the same timeframe as ASU 2020-04. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements.
Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers
In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers. The update will generally result in an entity recognizing contract assets and contract liabilities at amounts consistent with those recorded by the acquiree immediately before the acquisition date rather than at fair value. The new standard is effective on a prospective basis for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements.
Government Assistance (Topic 832): Disclosures by Business Entities About Government Assistance
In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832), Disclosures by Business Entities About Government Assistance, which requires entities to provide disclosures on material government assistance transactions for annual reporting periods. The disclosures include information around the nature of the assistance, the related accounting policies used to account for government assistance, the effect of government assistance on the entity’s financial statements, and any significant terms and conditions of the agreements, including commitments and contingencies. The new standard is effective for the Company on January 1, 2022 and only impacts annual financial statement footnote disclosures. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements.
v3.22.1
Acquisitions
 3 Months Ended
Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Acquisitions Acquisitions
Saol Baclofen Franchise Acquisition
On December 30, 2021, the Company entered into an asset purchase agreement with certain entities affiliated with Saol International Limited (collectively, “Saol”), a private specialty pharmaceutical company, pursuant to which it agreed to acquire Saol’s baclofen franchise, including Lioresal®, LYVISPAH™, and a pipeline product under development (the “Saol Acquisition”). The Saol Acquisition expands the Company’s commercial institutional and specialty portfolio in neurology while adding commercial infrastructure in advance of its entry into the biosimilar institutional market. The transaction closed on February 9, 2022.
Consideration for the Saol Acquisition included $84.7 million, paid at closing with cash on hand, and contingent royalty payments based on annual net sales for certain acquired assets, beginning in 2023. Cash paid at closing included $1.1 million for inventory acquired in excess of the normalized level, as defined in the asset purchase agreement (working capital adjustment).
For the three months ended March 31, 2022, the Company incurred $0.1 million in transaction costs associated with the Saol Acquisition, which was recorded in acquisition, transaction-related and integration expenses.
The Saol Acquisition was accounted for under the acquisition method of accounting, with Amneal as the accounting acquirer. The preliminary purchase price was calculated as follows (in thousands):
Cash$84,714 
Contingent consideration (royalties) (1)
8,796 
Fair value of consideration transferred$93,510 
(1)The estimated fair value of contingent consideration on the acquisition date was $8.8 million and was based on significant Level 3 inputs that were not observable in the market. Key assumptions included the discount rate, projected year of payments and expected net product sales. Refer to Note 10. Fair Value Measurements, for additional information on the methodology and determination of this liability.
The following is a summary of the preliminary purchase price allocation for the Saol Acquisition (in thousands):
Preliminary Fair Values as of
February 9, 2022
Inventory$2,162 
Prepaid expenses and other current assets98 
Goodwill7,553 
Intangible assets83,815 
Total assets acquired93,628 
Accounts payable and accrued expenses118 
Fair value of consideration transferred$93,510 
The acquired intangible assets are being amortized over their estimated useful lives as follows (in thousands):

Fair Value		Weighted-Average
Useful Life (in years)
Marketed product rights$83,815 11.6
The estimated fair value of the identifiable intangible assets was determined using the “income approach,” which is a valuation technique that provides an estimate of the fair value of an asset based on market participant expectations of the cash flows an asset would generate over its remaining useful life. The assumptions, including the expected projected cash flows, utilized in the purchase price allocation and in determining the purchase price were based on management's best estimates as of the closing date of the Saol Acquisition on February 9, 2022.
Some of the more significant assumptions inherent in the development of those asset valuations included the estimated net cash flows for each year for each asset (including net revenues, cost of sales, selling and marketing costs and working capital / contributory asset charges), the appropriate discount rate to select in order to measure the risk inherent in each future cash flow stream, the assessment of each asset’s life cycle, the potential regulatory and commercial success risks, competitive trends impacting the asset and each cash flow stream, as well as other factors. The underlying assumptions used to prepare the discounted cash flow analysis may change; accordingly, for these and other reasons, actual results may vary significantly from estimated results.
Goodwill is calculated as the excess of the consideration transferred over the net assets recognized. Of the total goodwill acquired in connection with the Saol Acquisition, $5.2 million was allocated to the Company’s Generics segment and $2.4 million was allocated to the Specialty segment.
From the acquisition date of February 9, 2022 to March 31, 2022, the Saol Acquisition contributed net revenues and an operating loss of $2.9 million and $0.1 million, respectively.
Puniska Healthcare Pvt. Ltd.
On November 2, 2021, the Company entered into a definitive agreement to acquire Puniska Healthcare Pvt. Ltd. (“Puniska”), a privately held manufacturer of parenteral and injectable drugs in India, and land in a transaction valued at $93.0 million (the “Puniska Acquisition”). Upon execution of the agreement, the Company paid $72.9 million with cash on hand for approximately 74% of the equity interests of Puniska. Upon approval of the transaction by the government of India in March 2022, the Company paid, with cash on hand, an additional $1.7 million for the remaining 26% of the equity interests of Puniska (included in redeemable non-controlling interests in the Company’s consolidated balance sheet as of December 31, 2021) and $14.2 million for the satisfaction of a preexisting payable to the sellers (included in related party payables-short term in the Company’s consolidated balance sheet as of December 31, 2021). During December 2021, the Company paid $4.3 million with cash on hand for land associated with the Puniska Acquisition.
There were no transaction costs associated with the Puniska Acquisition for the three months ended March 31, 2022 or 2021.
The Puniska Acquisition, excluding the land acquired in December 2021, was accounted for under the acquisition method of accounting, with Amneal as the accounting acquirer. The preliminary purchase price was calculated as follows (in thousands):
Cash (1)
$72,880 
Payable to sellers (2)
14,162 
Fair value of consideration transferred$87,042 
(1)     Cash includes the payment made upon execution of the agreement.
(2)     Due to the short-term nature of that payable to the sellers, the principal amount approximates fair value.
The following is a summary of the preliminary purchase price allocation for the Puniska Acquisition (in thousands):
Fair Values as of
November 2, 2021
Cash$165 
Trade accounts receivable, net 232 
Inventories1,092 
Prepaid expenses and other current assets4,473 
Property, plant and equipment 53,423 
Goodwill30,091 
Operating lease-right-of-use assets 234 
Other assets 1,303 
Total assets acquired91,013 
Accounts payable and accrued expenses1,732 
Operating lease liabilities234 
Other long-term liabilities263 
Total liabilities assumed2,229 
Redeemable non-controlling interests 1,742 
Fair value of consideration transferred$87,042 
Goodwill is calculated as the excess of the consideration transferred and fair value of the redeemable non-controlling interests over the net assets recognized. All of the goodwill acquired in connection with the Puniska Acquisition was allocated to the Company’s Generics segment.
Kashiv Specialty Pharmaceuticals, LLC Acquisition
On January 11, 2021, the Company and Kashiv Biosciences, LLC (a related party, see Note 15. Related Party Transactions) (“Kashiv”) entered into a definitive agreement for Amneal to acquire a 98% interest in Kashiv Specialty Pharmaceuticals, LLC (“KSP”), a subsidiary of Kashiv focused on the development of innovative drug delivery platforms, novel 505(b)(2) drugs and complex generics (the “KSP Acquisition”).
On April 2, 2021, the Company completed the KSP Acquisition.  Under the terms of the transaction, the cash portion of the consideration was $104.5 million, comprised of a purchase price of $100.1 million (including initial and deferred consideration) and a working capital adjustment of $4.4 million.  The initial cash purchase price was funded by cash on hand. For further detail of the purchase price, refer to the table below.
Transaction costs associated with the KSP Acquisition were $1.2 million for the three months ended March 31, 2021 (none for the three months ended March 31, 2022).
The KSP Acquisition was accounted for under the acquisition method of accounting, with Amneal as the accounting acquirer.
The purchase price was calculated as follows (in thousands):
Cash, including working capital payments$74,440 
Deferred consideration (1)
30,099 
Contingent consideration (regulatory milestones) (2)
500 
Contingent consideration (royalties) (2)
5,200 
Settlement of Amneal trade accounts payable due to KSP (3)
(7,117)
Fair value consideration transferred$103,122 

(1)The deferred consideration was stated at the fair value estimate of $30.1 million, which is the $30.5 million contractually stated amount less a $0.4 million discount. The deferred consideration consisted of $30.0 million, which the Company paid in January 2022 and $0.5 million, which the Company expects to pay during the three months ending June 30, 2022. As the deferred consideration is non-interest bearing, the Company, using guideline companies and market borrowings with comparable risk profiles, discounted the deferred consideration at 1.7% over the period from April 2, 2021 to the maturity dates, for a fair value of $30.1 million on the date of acquisition. This discount was amortized to interest expense over the life of the deferred consideration utilizing the effective interest rate method.

(2)    Kashiv is eligible to receive up to an additional $8.0 million in contingent payments upon the achievement of certain regulatory milestones and potential royalty payments from high single-digits to mid double-digits, depending on the amount of aggregate annual net sales for certain future pharmaceutical products. The estimated fair value of contingent consideration on the acquisition date was $5.7 million and was based on significant Level 3 inputs that were not observable in the market. Key assumptions included the discount rate, probability of achievement of milestones, projected year of payments and expected net product sales. Refer to Note 10. Fair Value Measurements, for additional information on the methodology and determination of this liability.

(3)    Represented trade accounts payable due to KSP that were effectively settled upon closing of the KSP Acquisition.
The following is a summary of the purchase price allocation for the KSP Acquisition (in thousands):
Final Fair Values as of
April 2, 2021
Cash$112 
Restricted cash500 
Prepaid expenses and other current assets381 
Property, plant and equipment5,375 
Goodwill43,530 
Intangible assets56,400 
Operating lease right-of-use assets9,367 
Total assets acquired115,665 
Accounts payable and accrued expenses1,239 
Operating lease liability9,177 
Related party payable127 
Total liabilities assumed10,543 
Non-controlling interests2,000 
Fair value of consideration transferred$103,122 
Total acquired intangible assets of $56.4 million were comprised of marketed product rights of $29.4 million and in-process research and development (“IPR&D”) of $27.0 million.
The acquired intangible assets are being amortized over their estimated useful lives as follows (in thousands):

Fair Value		Weighted-Average
Useful Life (in years)
Marketed product rights$29,400 5.9
The estimated fair value of the in-process research and development and identifiable intangible assets was determined using the “income approach”, which is a valuation technique that provides an estimate of the fair value of an asset based on market participant expectations of the cash flows an asset would generate over its remaining useful life. The assumptions, including the expected projected cash flows, utilized in the purchase price allocation and in determining the purchase price were based on management’s best estimates as of the closing date of the KSP Acquisition on April 2, 2021.
Some of the more significant assumptions inherent in the development of those asset valuations included the estimated net cash flows for each year for each asset or product (including net revenues, cost of sales, R&D, selling and marketing costs and working capital / contributory asset charges), the appropriate discount rate to select in order to measure the risk inherent in each future cash flow stream, the assessment of each asset’s life cycle, the potential regulatory and commercial success risks, competitive trends impacting the asset and each cash flow stream, as well as other factors. The underlying assumptions used to prepare the discounted cash flow analysis may change; accordingly, for these and other reasons, actual results may vary significantly from estimated results.
Goodwill is calculated as the excess of the consideration transferred and fair value of the non-controlling interests over the net assets recognized. Of the total goodwill acquired in connection with the KSP Acquisition, $40.8 million was allocated to the Company’s Generics segment and $2.7 million was allocated to the Specialty segment.
v3.22.1
Revenue Recognition
 3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers. Revenue is recognized when the Company transfers control of its products to the customer, which typically occurs at a point-in-time, either upon shipment or delivery. Substantially all of the Company’s net revenues relate to products which are transferred to the customer at a point-in-time.
Concentration of Revenue
The following table summarizes revenues from each of our customers which individually accounted for 10% or more of our total net revenues:
Three Months Ended March 31,
20222021
Customer A19 %20 %
Customer B18 %19 %
Customer C23 %26 %
Disaggregated Revenue
The Company's significant therapeutic classes for its Generics and Specialty segments and sales channels for its AvKARE segment, as determined based on net revenue for the three months ended March 31, 2022 and 2021 are set forth below (in thousands):
Three Months Ended March 31,
20222021
Generics
Anti-Infective$6,245 $5,913 
Hormonal/ Allergy96,368 106,703 
Antiviral (1)
10,571 (7,941)
Central Nervous System81,125 96,291 
Cardiovascular System23,453 35,311 
Gastroenterology16,620 19,458 
Oncology17,208 19,030 
Metabolic Disease/Endocrine11,233 6,557 
Respiratory5,665 8,178 
Dermatology13,477 12,878 
Other therapeutic classes35,360 9,731 
International and other422 399 
Total Generics net revenue317,747 312,508 
Specialty
Hormonal/ Allergy19,419 16,796 
Central Nervous System58,168 67,711 
Gastroenterology70 — 
Other therapeutic classes7,429 11,424 
Total Specialty net revenue85,086 95,931 
AvKARE
Distribution60,263 45,499 
Government Label24,459 31,072 
Institutional6,315 5,179 
Other3,763 2,916 
Total AvKARE net revenue94,800 84,666 
Total net revenue$497,633 $493,105 
(1) Antiviral net revenue for the three months ended March 31, 2021 reflected lower demand and increased returns activity for Oseltamivir (generic Tamiflu®) above historical levels due to decreased influenza activity during the COVID-19 pandemic.

A rollforward of the major categories of sales-related deductions for the three months ended March 31, 2022 is as follows (in thousands):
Contract
Charge - Backs
and Sales
Volume
Allowances		Cash Discount
Allowances		Accrued
Returns
Allowance		Accrued
Medicaid and
Commercial
Rebates
Balance at December 31, 2021$503,902 $23,642 $161,978 $85,737 
Provision related to sales recorded in the period728,830 24,852 19,207 18,452 
Credits/payments issued during the period(861,717)(25,920)(25,629)(35,313)
Balance at March 31, 2022$371,015 $22,574 $155,556 $68,876 
v3.22.1
Alliance and Collaboration
 3 Months Ended
Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Alliance and Collaboration Alliance and Collaboration
The Company has entered into several alliance, collaboration, license, distribution and similar agreements with respect to certain of its products and services with third-party pharmaceutical companies. The consolidated statements of operations include revenue recognized under agreements the Company has entered into to develop marketing and/or distribution relationships with its partners to fully leverage the technology platform and revenue recognized under development agreements which generally obligate the Company to provide research and development services over multiple periods. The Company's significant arrangements are discussed below.
Biosimilar Licensing and Supply Agreement
On May 7, 2018, the Company entered into a licensing and supply agreement with Mabxience S.L. for its biosimilar candidate for Avastin® (bevacizumab). The supply agreement was subsequently amended on March 2, 2021 and the licensing agreement was amended on March 4, 2021. The Company will be the exclusive partner in the U.S. market. The Company will pay development and regulatory milestone payments as well as commercial milestone payments on reaching pre-agreed sales targets in the market to Mabxience, up to $78.0 million. For the three months ended March 31, 2021, the Company expensed a milestone of $2.0 million to research and development expense under this agreement (none for the three months ended March 31, 2022).
On April 13, 2022, the Food and Drug Administration (“FDA”) approved the Company’s biologics license application for bevacizumab-maly, a biosimilar referencing Avastin®. In connection with this regulatory approval, the Company incurred a milestone payment of $10 million in the second quarter of 2022.
Agreements with Kashiv Biosciences, LLC
For detail on the Company’s related party agreements with Kashiv Biosciences, LLC, refer to Note 15. Related Party Transactions in this Form 10-Q and the Company’s 2021 Annual Report on Form 10-K
v3.22.1
(Loss) Earnings per Share
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
(Loss) Earnings per Share (Loss) Earnings per Share
Basic (loss) earnings per share of the Company’s class A common stock is computed by dividing net (loss) income attributable to Amneal Pharmaceuticals, Inc. by the weighted-average number of shares of class A common stock outstanding during the period. Diluted (loss) earnings per share of class A common stock is computed by dividing net (loss) income attributable to Amneal Pharmaceuticals, Inc. by the weighted-average number of shares of class A common stock outstanding, adjusted to give effect to potentially dilutive securities.
The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted (loss) earnings per share of class A common stock (in thousands, except per share amounts):
Three Months Ended
March 31,
20222021
Numerator:
Net (loss) income attributable to Amneal Pharmaceuticals, Inc.$(2,156)$6,706 
Denominator:
Weighted-average shares outstanding - basic149,892 148,013 
Effect of dilutive securities:
Stock options— 792 
Restricted stock units— 2,415 
Weighted-average shares outstanding - diluted
149,892 151,220 
Net (loss) earnings per share attributable to Amneal Pharmaceuticals, Inc.'s class A common stockholders:
Basic$(0.01)$0.05 
Diluted$(0.01)$0.04 
Shares of the Company's class B common stock do not share in the earnings or losses of the Company and, therefore, are not participating securities. As such, separate presentation of basic and diluted (loss) earnings per share of class B common stock under the two-class method has not been presented.
The following table presents potentially dilutive securities excluded from the computations of diluted (loss) earnings per share of class A common stock (in thousands):
Three Months Ended
March 31,
20222021
Stock options
3,035 
(1)
347 
(3)
Restricted stock units
11,430 
(1)
— 

Performance stock units
7,947 
(1)
5,124 
(4)
Shares of class B common stock152,117 
(2)
152,117 
(2)
(1)Excluded from the computation of diluted loss per share of class A common stock because the effect of their inclusion would have been anti-dilutive since there was a net loss attributable to the Company for the three months ended March 31, 2022.
(2)Shares of class B common stock are considered potentially dilutive shares of class A common stock. Shares of class B common stock have been excluded from the computations of diluted (loss) earnings per share because the effect of their inclusion would have been anti-dilutive under the if-converted method.   
(3)Excluded from the computation of diluted earnings per share of class A common stock because the exercise price of the stock options exceeded the average market price of the class A common stock during the periods (out-of-the-money.
(4)Excluded from the computation of diluted earnings per share of class A common stock because the performance vesting conditions were not met.
v3.22.1
Income Taxes
 3 Months Ended
Mar. 31, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
For the three months ended March 31, 2022, the Company’s (benefit from) provision for income taxes and effective tax rates were $(3.5) million and 34.9%, respectively, compared to $0.4 million and 2.4%, respectively, for the three months ended March 31, 2021. The period-over-period change in the (benefit from) provision for income taxes was primarily related to an Internal Revenue Service examination and Joint Committee review of the 2012-2018 federal income tax returns, which enabled the Company to recognize previously unrecognized tax benefits.
As of September 30, 2019, the Company established a valuation allowance based upon all available objective and verifiable evidence both positive and negative, including historical levels of pre-tax income (loss) both on a consolidated basis and tax reporting entity basis, legislative developments, expectations and risks associated with estimates of future pre-tax income, and prudent and feasible tax planning strategies. The Company estimated that as of September 30, 2019, it had generated a cumulative consolidated three-year pre-tax loss, which continued as of December 31, 2021.  As a result of the initial September 30, 2019 and December 31, 2021 analyses, the Company determined that it remained more likely than not that it would not realize the benefits of its gross deferred tax assets (“DTAs”) and, therefore, maintained its valuation allowance. As of December 31, 2021, this valuation allowance was $416.6 million, and it reduced the carrying value of these gross DTAs, net of the impact of the reversal of taxable temporary differences, to zero. As of March 31, 2022, based on its evaluation of available positive and negative evidence, the Company maintained its position with respect to the valuation allowance.
The Company entered into a tax receivable agreement (“TRA”) for which it is generally required to pay the other holders of Amneal Common Units 85% of the applicable tax savings, if any, in U.S. federal and state income tax that it is deemed to realize as a result of certain tax attributes of their Amneal Common Units sold to the Company (or exchanged in a taxable sale) and that are created as a result of (i) the sales of their Amneal Common Units for shares of class A common stock and (ii) tax benefits attributable to payments made under the TRA.  In conjunction with the valuation allowance recorded on the DTAs at September 30, 2019, the Company reversed the TRA liability.
The projection of future taxable income involves significant judgment. Actual taxable income may differ from the Company’s estimates, which could significantly impact the timing of the recognition of the contingent liability under the TRA. As noted
above, the Company has determined it is more-likely-than-not it will be unable to utilize all of its DTAs subject to the TRA; therefore, as of March 31, 2022, the Company has not recognized the contingent liability under the TRA related to the tax savings it may realize from common units sold or exchanged. If utilization of these DTAs becomes more likely than not in the future, at such time, Amneal will recognize a liability under the TRA as a result of basis adjustments under Internal Revenue Code Section 754. As of March 31, 2022, the contingent liability associated with the TRA was approximately $206.3 million.
The timing and amount of any payments under the TRA may vary depending upon a number of factors, including the timing and number of Amneal Common Units sold or exchanged for the Company's class A common stock, the price of the Company's class A common stock on the date of sale or exchange, the timing and amount of the Company's taxable income, and the tax rate in effect at the time of realization of the Company's taxable income (the TRA liability is determined based on a percentage of the corporate tax savings from the use of the TRA's attributes). Further sales or exchanges occurring subsequent to March 31, 2022 could result in future Amneal tax deductions and obligations to pay 85% of such benefits to the holders of Amneal Common Units. These obligations could be incremental to and substantially larger than the approximate $206.3 million contingent liability as of March 31, 2022 described above. Under certain conditions, such as a change of control or other early termination event, the Company could be obligated to make TRA payments in advance of tax benefits being realized. Payments could also be in excess of the tax savings that the Company may ultimately realize.

Any future recognition of these TRA liabilities will be recorded through charges in the Company’s consolidated statements of operations.  However, if the tax attributes are not utilized in future years, it is reasonably possible no amounts would be paid under the TRA.  Should the Company determine that a DTA with a valuation allowance is realizable in a subsequent period, the related valuation allowance will be reversed and if a resulting TRA payment is determined to be probable, a corresponding TRA liability will be recorded.
v3.22.1
Trade Accounts Receivable, Net
 3 Months Ended
Mar. 31, 2022
Receivables [Abstract]  
Trade Accounts Receivable, Net Trade Accounts Receivable, Net
Trade accounts receivable, net was comprised of the following (in thousands):
March 31,
2022		December 31,
2021
Gross accounts receivable$933,577 $1,191,792 
Allowance for credit losses(1,679)(1,665)
Contract charge-backs and sales volume allowances(371,015)(503,902)
Cash discount allowances(22,574)(23,642)
Subtotal(395,268)(529,209)
Trade accounts receivable, net$538,309 $662,583 
Concentration of Receivables
Trade accounts receivable from customers representing 10% or more of the Company’s total trade accounts receivable were as follows:
March 31,
2022		December 31,
2021
Customer A31 %37 %
Customer B21 %24 %
Customer C31 %25 %
v3.22.1
Inventories
 3 Months Ended
Mar. 31, 2022
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories were comprised of the following (in thousands):
March 31,
2022		December 31,
2021
Raw materials
$212,849 $214,508 
Work in process
64,519 47,802 
Finished goods
234,873 227,079 
Total inventories$512,241 $489,389 
v3.22.1
Fair Value Measurements
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Fair value is the exit price that would be received to sell an asset or paid to transfer a liability. Fair value is a market-based measurement that should be determined using assumptions that market participants would use in pricing an asset or liability. Valuation techniques used to measure fair value should maximize the use of observable inputs and minimize the use of unobservable inputs. To measure fair value, the Company uses the following fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable:
Level 1 – Quoted prices in active markets for identical assets or liabilities.
Level 2 – Inputs other than Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means.
Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Value is determined using pricing models, discounted cash flow methodologies, or similar techniques and also includes instruments for which the determination of fair value requires significant judgment or estimation.
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The Company evaluates its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level of classification for each reporting period. The following table sets forth the Company’s financial assets and liabilities that were measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021 (in thousands):
Fair Value Measurement Based on
March 31, 2022TotalQuoted
Prices in
Active
Markets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets and Liabilities
Interest rate swap asset (1)
$42,151 $— $42,151 $— 
Deferred compensation plan liabilities (2)
$12,817 $— $12,817 $— 
Contingent consideration liabilities (3)
$14,896 $— $— $14,896 
December 31, 2021
Liabilities
Interest rate swap liability (1)
$11,473 $— $11,473 $— 
Deferred compensation plan liabilities (2)
$13,883 $— $13,883 $— 
Contingent consideration liability (3)
$5,900 $— $— $5,900 
(1)The fair value measurement of the Company’s interest rate swap classified within Level 2 of the fair value hierarchy is a model-derived valuation as of a given date in which all significant inputs are observable in active markets including
certain financial information and certain assumptions regarding past, present, and future market conditions. Refer to Note 11. Financial Instruments for information on the Company's interest rate swap.
(2)These liabilities are recorded at the value of the amount owed to the plan participants, with changes in value recognized as compensation expense. The calculation of the deferred compensation plan obligation is derived from observable market data by reference to hypothetical investments selected by the participants.
(3)The fair value measurement of contingent consideration liabilities has been classified as Level 3 recurring liabilities as the valuations require judgment and estimation of factors that are not currently observable in the market. If different assumptions were used for various inputs, the estimated fair values could be higher or lower than what the Company determined. As of March 31, 2022, contingent consideration liabilities of $6.1 million associated with the KSP Acquisition and $8.8 million associated with the Saol Acquisition were recorded within related party payables - long term and other long-term liabilities, respectively. As of December 31, 2021, a contingent consideration liability of $5.9 million associated with the KSP Acquisition was recorded within related party payables - long term. Refer to Note 3. Acquisitions for additional information related to contingent consideration associated with the KSP Acquisition and the Saol Acquisition.
There were no transfers between levels in the fair value hierarchy during the three months ended March 31, 2022.
Contingent consideration

On April 2, 2021, the Company completed the KSP Acquisition, which provides for contingent milestone payments of up to an aggregate of $8.0 million (undiscounted) upon the achievement of certain regulatory milestones, as well as contingent royalty payments that are tiered depending on the aggregate annual net sales for certain future pharmaceutical products.

On February 9, 2022, the Company completed the Saol Acquisition, which provides for contingent royalty payments that are tiered depending on the aggregate annual net sales for certain pharmaceutical products, beginning in 2023.

The following table provides a reconciliation of the contingent consideration liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in thousands):

Three Months Ended
March 31, 2022
Balance, beginning of period$5,900 
Addition due to the Saol Acquisition8,796 
Change in fair value during the period200 
Balance, end of period$14,896 


The fair value measurement of the contingent consideration liabilities were determined based on significant unobservable inputs, including the discount rate, estimated probabilities of success, timing of achieving specified regulatory milestones and the estimated amount of future sales of the acquired products. The contingent consideration liabilities were estimated by applying a probability-weighted expected payment model for contingent milestone payments and Monte Carlo simulation models for contingent royalty payments, which were then discounted to present value. Changes to the fair values of the contingent consideration liabilities can result from changes to one or a number of the aforementioned inputs. If different assumptions were used for various inputs, the estimated fair value could be higher or lower than what the Company determined.
The following table summarizes the significant unobservable inputs used in the fair value measurement of our contingent consideration liabilities as of March 31, 2022:

Contingent Consideration Liability
Fair Value as of
March 31, 2022
(in thousands)
Unobservable inputRange
Weighted Average(1)
Regulatory Milestones (KSP Acquisition)$500Discount rate4.3%-6.0%4.5%
Probability of payment1.8%-20.0%16.7%
Projected year of payment2023-20272023
Royalties (KSP Acquisition)$5,600Discount rate11.5%-11.5%11.5%
Probability of payment1.8%-20.0%18.0%
Projected year of payment2023-20322029
Royalties (Saol Acquisition)$8,796Discount rate 16.9%16.9%16.9%
Projected year of payment 202320372027

(1) Unobservable inputs were weighted by the relative fair value of each product candidate acquired.

Assets and Liabilities Not Measured at Fair Value on a Recurring Basis
The carrying amounts of cash, accounts receivable and accounts payable approximate their fair values due to the short-term maturity of these instruments.
The Term Loan, as defined in Note 17. Debt in the Company’s 2021 Annual Report on Form 10-K, is in the Level 2 category within the fair value level hierarchy. The fair value was determined using market data for valuation. The fair value of the Term Loan at both March 31, 2022 and December 31, 2021 was approximately $2.6 billion.
The Rondo Term Loan, as defined in Note 17. Debt in the Company’s 2021 Annual Report on Form 10-K, is in the Level 2 category within the fair value level hierarchy. The fair value of the Rondo Term Loan at March 31, 2022 and December 31, 2021 was $136.7 million and $139.0 million, respectively.
The Sellers Notes are in the Level 2 category within the fair value level hierarchy. The carrying value of the Sellers Notes at March 31, 2022 and December 31, 2021 was $38.3 million and $38.0 million, respectively, approximated their fair values.
Refer to Note 17. Debt in our 2021 Annual Report on Form 10-K for detailed information about our indebtedness, including definitions of terms.
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
There were no non-recurring fair value measurements during the three months ended March 31, 2022 and 2021.
v3.22.1
Financial Instruments
 3 Months Ended
Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Financial Instruments Financial Instruments
The Company uses an interest rate swap to manage its exposure to market risks for changes in interest rates.
Interest Rate Risk
Interest income earned on cash and cash equivalents may fluctuate as interest rates change; however, due to their relatively short maturities, the Company does not hedge these assets or their investment cash flows because the impact of interest rate risk is not material. The Company is exposed to interest rate risk on its debt obligations. The Company's debt obligations consist of variable-rate and fixed-rate debt instruments.  The Company's primary objective is to achieve the lowest overall cost of funding while managing the variability in cash outflows within an acceptable range.  In order to achieve this objective, the Company has entered into an interest rate swap on the Term Loan.
Interest Rate Derivative – Cash Flow Hedge
The interest rate swap involves the periodic exchange of payments without the exchange of underlying principal or notional amounts. In October 2019, the Company entered into an interest rate lock agreement for a total notional amount of $1.3 billion
to hedge part of the Company's interest rate exposure associated with the variability in future cash flows from changes in the one-month LIBOR associated with the Term Loan.
As of March 31, 2022, the total gain, net of income taxes, related to the Company’s cash flow hedge was $42.2 million, of which $20.8 million was recognized in accumulated other comprehensive loss and $21.4 million was recognized in non-controlling interests.
A summary of the fair values of derivative instruments in the consolidated balance sheets was as follows (in thousands):
March 31, 2022December 31, 2021
Derivatives Designated as Hedging InstrumentsBalance Sheet
Classification		Fair ValueBalance Sheet
Classification		Fair Value
Variable-to-fixed interest rate swapOther Assets$42,151 Other long-term liabilities$11,473 
v3.22.1
Goodwill and Other Intangible Assets
 3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
The changes in goodwill for the three months ended March 31, 2022 and for the year ended December 31, 2021 were as follows (in thousands):
March 31,
2022		December 31,
2021
Balance, beginning of period$593,017 $522,814 
Goodwill acquired during the period 7,553 70,584 
Adjustment during the period for Puniska Acquisition3,075 — 
Currency translation(752)(381)
Balance, end of period$602,893 $593,017 
As of March 31, 2022, $366.3 million, $167.1 million, and $69.5 million of goodwill was allocated to the Specialty, Generics, and AvKARE segments, respectively. As of December 31, 2021, $363.9 million, $159.6 million, and $69.5 million of goodwill was allocated to the Specialty, Generics, and AvKARE segments, respectively. For the three months ended March 31, 2022, goodwill acquired during the period was associated with the Saol Acquisition. For the year ended December 31, 2021, goodwill acquired during the period was associated with the Puniska Acquisition and the KSP Acquisition. Refer to Note 3. Acquisitions for additional information.
Intangible assets at March 31, 2022 and December 31, 2021 were comprised of the following (in thousands):
March 31, 2022December 31, 2021
Weighted-Average
Amortization Period
(in years)		CostAccumulated
Amortization		NetCostAccumulated
Amortization		Net
Amortizing intangible assets:
Product rights8.3$1,205,374 $(471,785)$733,589 $1,122,612 $(436,902)$685,710 
Other intangible assets4.7133,800 (62,996)70,804 133,800 (58,013)75,787 
Subtotal$1,339,174 $(534,781)$804,393 $1,256,412 $(494,915)$761,497 
In-process research and development
405,425 — 405,425 405,425 — 405,425 
Total intangible assets$1,744,599 $(534,781)$1,209,818 $1,661,837 $(494,915)$1,166,922 
During the three months ended March 31, 2022, the Company recognized $83.8 million of product rights intangible assets associated with the Saol Acquisition. Product rights are amortized to cost of goods sold over their estimated useful lives. Refer to Note 3. Acquisitions for additional information.
Amortization expense related to intangible assets was as follows (in thousands):
Three Months Ended March 31,
20222021
Amortization$40,919 $41,672 
The following table presents future amortization expense for the next five years and thereafter, excluding $405.4 million of IPR&D intangible assets (in thousands):
Future
Amortization
Remainder of 2022$126,846 
2023156,567 
2024148,179 
2025110,773 
202664,159 
Thereafter197,869 
   Total$804,393 
The Company reviews intangible assets with finite lives for recoverability whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. Indefinite-lived intangible assets, including IPR&D, are tested for impairment if impairment indicators arise and, at a minimum, annually.
v3.22.1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Commitments
Commercial Manufacturing, Collaboration, License, and Distribution Agreements
The Company continues to seek to enhance its product line and develop a balanced portfolio of differentiated products through product acquisitions and in-licensing. Accordingly, the Company, in certain instances, may be contractually obligated to make potential future development, regulatory, and commercial milestone, royalty and/or profit-sharing payments in conjunction with collaborative agreements or acquisitions that the Company has entered with third parties. The Company has also licensed certain technologies or intellectual property from various third parties. The Company is generally required to make upfront payments as well as other payments upon successful completion of regulatory or sales milestones. The agreements generally permit the Company to terminate the agreement with no significant continuing obligation. The Company could be required to make significant payments pursuant to these arrangements. These payments are contingent upon the occurrence of certain future events and, given the nature of these events, it is unclear when, if ever, the Company may be required to pay such amounts. Further, the timing of any future payment is not reasonably estimable. Refer to Note 5. Alliance and Collaboration for additional information. Certain of these arrangements are with related parties. Refer to Note 15. Related Party Transactions for additional information.
Contingencies
Legal Proceedings
The Company's legal proceedings are complex, constantly evolving, and subject to uncertainty. As such, the Company cannot predict the outcome or impact of the legal proceedings set forth below. Additionally, the Company is subject to legal proceedings that are not set forth below. While the Company believes it has valid claims and/or defenses to the matters described below, the nature of litigation is unpredictable, and the outcome of the following proceedings could include damages, fines, penalties and injunctive or administrative remedies. For any proceedings where losses are probable and reasonably capable of estimation, the Company accrues for a potential loss. When the Company has a probable loss for which a reasonable estimate of the liability is a range of losses and no amount within that range is a better estimate than any other amount, the Company records the loss at the low end of the range. While these accruals have been deemed reasonable by the Company’s management, the assessment process relies heavily on estimates and assumptions that may ultimately prove inaccurate or incomplete. Additionally, unforeseen circumstances or events may lead the Company to subsequently change its estimates and assumptions. Unless otherwise indicated below, the Company is unable at this time to estimate the possible loss or the range of loss, if any, associated with such legal proceedings and claims.
The Company currently intends to vigorously prosecute and/or defend these proceedings as appropriate. From time to time, however, the Company may settle or otherwise resolve these matters on terms and conditions that it believes to be in its best interest. For the three months ended March 31, 2022, the Company recorded a net credit of $2.3 million consisting of an insurance recovery of $4 million, partially offset by charges for legal proceedings (none for the three months ended March 31, 2021). As of March 31, 2022, and December 31, 2021, the Company recorded total liabilities for legal proceedings of $59.7 million and $58.0 million, respectively, of which $37.0 million and $33.0 million, respectively, were recorded for securities class actions covered by insurance (refer to Securities Class Actions below and Note 17. Prepaid Expenses and Other Current Assets for additional information). An insurance recovery will be recorded in the period in which it is probable the recovery will be realized.
The ultimate resolution of any or all claims, legal proceedings or investigations could differ materially from our estimate and have a material adverse effect on the Company's results of operations and/or cash flows in any given accounting period, or on the Company's overall financial condition. 
Additionally, the Company manufactures and derives a portion of its revenue from the sale of pharmaceutical products in the opioid class of drugs and may therefore face claims arising from the regulation and/or consumption of such products.
The Company believes it has meritorious claims and defenses in these matters and intends to vigorously prosecute and defend them. However, because the ultimate outcome and costs associated with litigation are inherently uncertain and difficult to predict, except as otherwise stated, the Company is not in a position to predict the likelihood of an unfavorable outcome or provide an estimate of the amount or range of potential loss in the event of an unfavorable outcome in any of these matters, and any adverse outcome could negatively affect the Company and could have a material adverse effect on the Company's results of operations, cash flows and/or overall financial condition.
Medicaid Reimbursement and Price Reporting Matters
The Company is required to provide pricing information to state agencies, including agencies that administer federal Medicaid programs. Certain state agencies have alleged that manufacturers have reported improper pricing information, which allegedly caused them to overpay reimbursement costs. Other agencies have alleged that manufacturers have failed to timely file required reports concerning pricing information. Liabilities are periodically established by the Company for any potential claims or settlements of overpayment. The Company intends to vigorously defend against any such claims. The ultimate settlement of any potential liability for such claims may be higher or lower than estimated.
Patent Litigation
There is substantial litigation in the pharmaceutical, biological, and biotechnology industries with respect to the manufacture, use, and sale of new products which are the subject of conflicting patent and intellectual property claims. One or more patents often cover the brand name products for which the Company is developing generic versions and the Company typically has patent rights covering the Company’s branded products.
Under federal law, when a drug developer files an Abbreviated New Drug Application (“ANDA”) for a generic drug seeking approval before expiration of a patent which has been listed with the FDA as covering the brand name product, the developer
must certify its product will not infringe the listed patent(s) and/or the listed patent is invalid or unenforceable (commonly referred to as a “Paragraph IV” certification). Notices of such certification must be provided to the patent holder, who may file a suit for patent infringement within 45 days of the patent holder’s receipt of such notice. If the patent holder files suit within the 45-day period, the FDA can review and tentatively approve the ANDA, but generally is prevented from granting final marketing approval of the product until a final judgment in the action has been rendered in favor of the generic drug developer, or 30 months from the date the notice was received, whichever is sooner. The Company’s Generics segment is typically subject to patent infringement litigation brought by branded pharmaceutical manufacturers in connection with the Company’s Paragraph IV certifications seeking an order delaying the approval of the Company’s ANDA until expiration of the patent(s) at issue in the litigation.
The uncertainties inherent in patent litigation make the outcome of such litigation difficult to predict. For the Company’s Generics segment, the potential consequences in the event of an unfavorable outcome in such litigation include delaying the launch of its generic products until patent expiration. If the Company were to launch its generic product prior to successful resolution of a patent litigation, the Company could be liable for potential damages measured by the profits lost by the branded product manufacturer rather than the profits earned by the Company if it is found to infringe a valid, enforceable patent, or enhanced treble damages in cases of willful infringement. For the Company’s Specialty segment, an unfavorable outcome may significantly accelerate generic competition ahead of expiration of the patents covering the Company’s branded products. All such litigation typically involves significant expense.
The Company is generally responsible for all the patent litigation fees and costs associated with current and future products not covered by its alliance and collaboration agreements. The Company has agreed to share legal expenses with respect to third-party and Company products under the terms of certain of the alliance and collaboration agreements. The Company records the costs of patent litigation as expense in the period when incurred for products it has developed, as well as for products which are the subject of an alliance or collaboration agreement with a third-party.
Patent Defense Matter

Biogen International GMBH, et al. v. Amneal Pharmaceuticals LLC, et al. (Dimethyl Fumarate)

In June 2017, Biogen International GMBH (“Biogen”) filed suit against Amneal and various other generic manufacturers in the United States District Court for the District of Delaware (“D. Del.”) alleging patent infringement based on the filing of ANDAs by Amneal and others for generic alternatives to Biogen’s Tecfidera® (dimethyl fumarate) capsules product (Biogen International GMBH, et al. v. Amneal Pharmaceuticals LLC, et al., No. 1:17-cv-00823-MN). Biogen also filed suit in June 2017 against Mylan Pharmaceuticals Inc. (“Mylan”) in the United States District Court for the Northern District of West Virginia (“N.D. W. Va.”) relating to Mylan’s own ANDA for Tecfidera®. On June 18, 2020, the N.D. W. Va. court issued an order finding the sole Biogen patent at issue invalid. Biogen appealed the order (the “Mylan Appeal”) to the United States Court of Appeals for the Federal Circuit (the “Federal Circuit”). On September 22, 2020, the D. Del. court entered judgment in favor of the defendants (including Amneal), adopting the finding of invalidity made by the N.D. W. Va. court. Biogen appealed the D. Del. Order (“the Amneal Consolidated Appeal”). On November 30, 2021, the Federal Circuit affirmed the N.D. W. Va. court’s order that Biogen’s patent is invalid, and, on March 23, 2022, issued a mandate in the Mylan Appeal. The Amneal Consolidated Appeal is currently stayed; Biogen intends to file a writ of certiorari in the Mylan Appeal and has requested that the Federal Circuit continue the stay in the Amneal Consolidated Appeal. Amneal has requested the Federal Circuit to apply the judgment in the Mylan Appeal to the Amneal Consolidated Appeal, which will dispose of the Amneal Consolidated Appeal.
Other Litigation Related to the Company’s Business

Opana ER® FTC Matters

On February 25, 2014, Impax received a Civil Investigative Demand (“CID”) from the Federal Trade Commission (“FTC”) concerning its investigation into the drug Opana® ER and its generic equivalents. On March 30, 2016, the FTC filed a complaint against Impax, Endo Pharmaceuticals Inc. (“Endo”), and others in the United States District Court for the Eastern District of Pennsylvania, alleging that Impax and Endo violated antitrust laws when they entered into a June 2010 settlement agreement that resolved patent litigation in connection with the submission of Impax’s ANDA for generic original Opana® ER. In October 2016, the Court granted Impax’s motion to sever, formally terminating the suit against Impax. In January 2017, the FTC filed a Part 3 Administrative Complaint against Impax with similar allegations regarding the 2010 settlement. Following trial, in May 2018, the Administrative Law Judge ruled in favor of Impax and dismissed the Complaint in its entirety. FTC Complaint Counsel appealed the decision to the full Commission, and in March 2019, the FTC issued an Opinion & Order reversing the Administrative Law Judge’s decision. The Opinion & Order did not provide for any monetary damages but enjoined Impax from entering into future agreements containing certain terms. Impax filed a Petition for Review of the FTC’s Opinion & Order with the United States Court of Appeals for the Fifth Circuit, and on April 13, 2021, the Fifth Circuit issued a decision denying Impax’s Petition for Review, effectively affirming the FTC’s Opinion & Order. On September 10, 2021, Impax filed a petition for writ of certiorari in the U.S. Supreme Court, which was denied in December 2021.

On July 12, 2019, the Company received a CID from the FTC concerning an August 2017 settlement agreement between Impax and Endo, which resolved a subsequent patent infringement and breach of contract dispute between the parties regarding the above-referenced June 2010 settlement agreement related to Opana® ER. The Company cooperated with the FTC regarding the CID. On January 25, 2021, the FTC filed a complaint against Endo, Impax and Amneal in the United States District Court for the District of Columbia, alleging that the 2017 settlement violated antitrust laws. In April 2021, the Company filed a motion to dismiss the FTC’s complaint, which the District Court granted on March 24, 2022. The District Court’s decision is still subject to appeal. The Company believes it has strong defenses to the FTC’s allegations and intends to vigorously defend the action, however, no assurance can be given as to the timing or outcome of the litigation.
Opana ER® Antitrust Litigation

From June 2014 to April 2015, several complaints styled as class actions on behalf of direct purchasers and indirect purchasers (or end-payors) and several separate individual complaints on behalf of certain direct purchasers (the “opt-out plaintiffs”) of Opana ER® were filed against Endo and Impax.

In December 2014, the United States Judicial Panel on Multidistrict Litigation (the “JPML”) transferred the actions to the United States District Court for the Northern District of Illinois (“N.D. Ill.”) for coordinated pretrial proceedings, as In Re: Opana ER Antitrust Litigation (MDL No. 2580) (“MDL”). In each case, the complaints allege that Endo engaged in an anticompetitive scheme by, among other things, entering into an anticompetitive settlement agreement with Impax to delay generic competition of Opana ER® and in violation of state and federal antitrust laws. Plaintiffs seek, among other things, unspecified monetary damages, and equitable relief, including disgorgement and restitution. On March 25, 2019, plaintiffs filed motions for class certification and served expert reports. Defendants’ oppositions to class certification and expert reports were filed and served on August 29, 2019. On April 15, 2020, defendants filed motions for summary judgment and each side moved to exclude certain opposing experts. On June 4, 2021, the MDL court granted the end-payor plaintiffs’ and direct purchaser plaintiffs’ class certification motions. Defendants appealed certification of the end-payor plaintiffs’ class, and on July 13, 2021, the Seventh Circuit granted defendants’ petition and remanded the case to the MDL to consider specific issues regarding uninjured class members. On August 11, 2021, the MDL court entered an order certifying end-payor plaintiffs’ class with an amended class definition. On June 4, 2021, the MDL also denied defendants’ summary judgment motion except as to certain state law claims and issued an opinion excluding certain experts of both sides. Trial is currently scheduled for June 2022.
Sergeants Benevolent Association Health & Welfare Fund v. Actavis, PLC, et. al.

In August 2015, a complaint styled as a class action was filed against Forest Laboratories (a subsidiary of Actavis plc) and numerous generic drug manufacturers, including Amneal, in the United States District Court for the Southern District of New York involving patent litigation settlement agreements between Forest Laboratories and the generic drug manufacturers concerning generic versions of Forest’s Namenda IR product. The complaint (as amended on February 12, 2016) asserts federal and state antitrust claims on behalf of indirect purchasers, who allege in relevant part that during the class period they indirectly purchased Namenda® IR or its generic equivalents in various states at higher prices than they would have absent the defendants’ allegedly unlawful anticompetitive conduct. Plaintiff seeks, among other things, unspecified monetary damages, and equitable relief, including disgorgement and restitution. On September 13, 2016, the Court stayed the indirect purchaser plaintiff’s claims pending factual development or resolution of claims brought in a separate, related complaint by direct
purchasers (in which the Company is not a defendant). On September 10, 2018, the Court lifted the stay and referred the case to the assigned Magistrate Judge for supervision of supplemental, non-duplicative discovery in advance of mediation to be scheduled in 2019. The parties thereafter participated in supplemental discovery, as well as supplemental motion-to-dismiss briefing. On December 26, 2018, the Court granted in part and denied in part motions to dismiss the indirect purchaser plaintiff’s claims. On January 7, 2019, Amneal, its relevant co-defendants, and the indirect purchaser plaintiff informed the Magistrate Judge that they had agreed to mediation, which occurred in April 2019. In June 2019, the Company reached a settlement with plaintiff, subject to Court approval. On September 10, 2019, the Court entered an order preliminarily approving the settlement and indefinitely staying the case as to the settling defendants (including the Company). The settlement is now subject to final approval from the Court. The Company anticipates a final determination regarding approval to be made after a trial as to the plaintiff’s claims against the non-settling parties. A trial date has not yet been set. The amount of the settlement was not material to the Company's consolidated financial statements.
Attorney General of the State of Connecticut Interrogatories and Subpoena Duces Tecum

On July 14, 2014, Impax received a subpoena and interrogations from the State of Connecticut Attorney General ("Connecticut AG") concerning its investigation into sales of Impax's generic product, digoxin. According to the Connecticut AG, the investigation concerned whether anyone engaged in a contract, combination, or conspiracy in restraint of trade or commerce which had the effect of (i) fixing, controlling, or maintaining prices or (ii) allocating or dividing customers or territories relating to the sale of digoxin. Impax cooperated in the investigation and produced documents and information in response to the subpoena in 2014 and 2015. However, no assurance can be given as to the timing or outcome of this investigation.

United States Department of Justice Investigations

On November 6, 2014, Impax disclosed that one of its sales representatives received a grand jury subpoena from the Antitrust Division of the United States Department of Justice (the “DOJ”). On March 13, 2015, Impax received a grand jury subpoena from the DOJ requesting the production of information and documents regarding the sales, marketing, and pricing of four generic prescription medications. Impax has cooperated in the investigation and produced documents and information in response to the subpoenas from 2014 to 2016. However, no assurance can be given as to the timing or outcome of the investigation.

On April 30, 2018, Impax received a CID from the Civil Division of the DOJ (the “Civil Division”). The CID requests the production of information and documents regarding the pricing and sale of Impax’s pharmaceuticals and interactions with other generic pharmaceutical manufacturers regarding whether generic pharmaceutical manufacturers engaged in market allocation and price-fixing agreements, paid illegal remuneration, and caused false claims to be submitted to the Federal government. Impax has cooperated with the Civil Division’s investigation. However, no assurance can be given as to the timing or outcome of the investigation.
In Re Generic Pharmaceuticals Pricing Antitrust Litigation
Since March 2016, multiple putative antitrust class action complaints have been filed on behalf of direct purchasers, indirect purchasers (or end-payors), and indirect resellers, as well as individual complaints on behalf of certain direct and indirect purchasers, and municipalities (the “opt-out plaintiffs”) against manufacturers of generic drugs, including Impax and the Company. The complaints allege a conspiracy to fix, maintain, stabilize, and/or raise prices, rig bids, and allocate markets or customers for various generic drugs in violation of federal and state antitrust and consumer protection laws. Plaintiffs seek unspecified monetary damages and equitable relief, including disgorgement and restitution. The lawsuits have been consolidated in an MDL in the United States District Court for the Eastern District of Pennsylvania (In re Generic Pharmaceuticals Pricing Antitrust Litigation, No. 2724, (E.D. Pa.)).
On May 10, 2019, Attorneys General of 43 States and the Commonwealth of Puerto Rico filed a complaint in the United States District Court for the District of Connecticut against various manufacturers and individuals, including the Company, alleging a conspiracy to fix, maintain, stabilize, and/or raise prices, rig bids, and allocate markets or customers for multiple generic drugs. On November 1, 2019, the State Attorneys General filed an Amended Complaint on behalf of nine additional states and territories. On June 10, 2020, Attorneys General of 46 States, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, the Territory of Guam, the U.S. Virgin Islands, and the District of Columbia filed a new complaint against various manufacturers and individuals, including the Company, alleging a conspiracy to fix prices, rig bids, and allocate markets or customers for additional generic drugs. Plaintiff States seek unspecified monetary damages and penalties and equitable relief, including disgorgement and restitution. On September 9, 2021, the State Attorneys General filed an Amended Complaint on behalf of California in addition to the original Plaintiff States. On March 30, 2022, the State of Alabama voluntarily dismissed all of its claims in the May 10, 2019, and the June 10, 2020, actions against all defendants, including the
Company, without prejudice. These lawsuits have been incorporated into MDL No. 2724. Fact and document discovery in MDL No. 2724 are proceeding. In May 2021, the court issued a revised order designating certain plaintiffs’ complaints regarding two generic drug products to proceed as bellwether cases, along with the Plaintiff States’ June 10, 2020, complaint involving the Company. No final scheduling order has yet been issued for this matter.
On June 3, 2020, the Company and Impax were also named in a putative class action complaint filed in the Federal Court of Canada in Toronto, Ontario against numerous generic pharmaceutical manufacturers, on behalf of a putative class of individuals who purchased generic drugs in the private sector from 2012 to the present (Kathryn Eaton v. Teva Canada Limited, et. al., No. T-607-20). The complaint alleges price fixing, among other claims, and has not progressed to date.
Prescription Opioid Litigation
The Company and certain of its affiliates have been named as defendants in various matters filed in state and federal courts relating to the sale of prescription opioid pain relievers. Plaintiffs in these actions include state Attorneys General, county and municipal governments, hospitals, Indian tribes, pension funds, third-party payors, and individuals. Plaintiffs seek unspecified monetary damages and other forms of relief based on various causes of action, including negligence, public nuisance, unjust enrichment, and civil conspiracy, as well as alleged violations of the Racketeer Influenced and Corrupt Organizations Act (“RICO”), state and federal controlled substances laws and other statutes. All cases involving the Company also name other manufacturers, distributors and retail pharmacies as defendants, and there are numerous other cases involving allegations relating to prescription opioid pain relievers against other manufacturers, distributors, and retail pharmacies in which the Company and its affiliates are not named.

Nearly all cases pending in federal district courts have been consolidated for pre-trial proceedings in an MDL in the United States District Court for the Northern District of Ohio (In re: National Prescription Opiate Litigation, Case No. 17-mdl-2804). There are approximately 914 cases in the MDL in which the Company or its affiliates have been named as defendants. The Company also is named in approximately 115 state court cases pending in eleven states. The Company has filed motions to dismiss in many of these cases. No firm trial dates have been set except in New Mexico (September 2022) and Alabama (January 2023). Following a decision by the West Virginia Supreme Court of Appeals in June 2021, the trial court in West Virginia set trial dates for April (manufacturers), which is in process, July (distributors), and September (pharmacies) 2022, but the Company is not a defendant in the manufacturer trial and there is no current information indicating that the Company will be involved in the July and September trials.
Securities Class Actions

On April 17, 2017, New York Hotel Trades Council & Hotel Association of New York City, Inc. Pension Fund filed an amended putative class action complaint in the United States District Court for the Northern District of California against Impax and four former Impax officers alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 (Fleming v. Impax Laboratories Inc., et al., No. 4:16-cv-6557-HSG). Plaintiff alleges that Impax (1) concealed collusion with competitors to fix the price of the generic drug digoxin; (2) concealed anticipated erosion in the price of generic drug diclofenac; and (3) overstated the value of the generic drug budesonide. In June 2021, Plaintiffs (New York Hotel Trades Council & Hotel Association of New York City, Inc. Pension Fund, and Sheet Metal Workers’ Pension Fund of Southern California, Arizona and Nevada, who had filed various motions to intervene as a plaintiff in the case) and defendants reached a tentative agreement to settle all claims in the case for $33.0 million, subject to certain terms and conditions and subject to court approval. The proposed settlement is covered in full by insurance (refer to Note 17. Prepaid Expenses and Other Current Assets). The district court entered an order granting preliminary approval of the settlement on November 22, 2021, and held a fairness hearing on March 31, 2022. An order on the motion for final approval is pending.

On December 18, 2019, Cambridge Retirement System filed a putative class action complaint in the Superior Court of New Jersey, Somerset County against the Company and certain current or former officers alleging violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 (Cambridge Retirement System v. Amneal Pharmaceuticals, Inc., et al., No. SOM-L-1701-19). Plaintiffs allege that the May 7, 2018, amended registration statement and prospectus issued in connection with the Amneal/Impax business combination was materially false and/or misleading because it failed to disclose that Amneal allegedly engaged in anticompetitive conduct to fix generic drug prices. Plaintiffs filed a motion for class certification on October 30, 2020, and in April 2021 filed a second amended complaint including similar allegations regarding a November 2017 registration statement and prospectus issued in connection with the Amneal/ Impax business combination. The Company’s motion to dismiss and Plaintiff’s motion for class certification are currently pending. In February 2022, the parties reached a tentative agreement to settle the claims, subject to, among other things, the negotiation and court approval of a definitive settlement agreement. On March 28, 2022, the parties executed a settlement agreement for $25 million that remains subject to, among other things, final court approval. A hearing on final approval is set for the week of August 15, 2022. For the three
months ended March 31, 2022, the Company recorded an insurance recovery of $4.0 million related to this case (refer to Note 17. Prepaid Expenses and Other Current Assets).
United States Department of Justice / Drug Enforcement Administration Subpoenas

On July 7, 2017, Amneal Pharmaceuticals of New York, LLC received an administrative subpoena issued by the Long Island, NY District Office of the Drug Enforcement Administration (the “DEA”) requesting information related to compliance with certain recordkeeping and reporting requirements. On or about April 12, 2019, and May 28, 2019, the Company received grand jury subpoenas from the U.S. Attorney’s Office for the Eastern District of New York (the “USAO”) relating to similar topics concerning the Company’s suspicious order monitoring program and its compliance with the Controlled Substances Act. The Company is cooperating with the USAO in responding to the subpoenas and has entered civil and criminal amended tolling agreements with the USAO through approximately November 14, 2022. It is not currently possible to determine the exact outcome of these investigations.

On March 14, 2019, Amneal received a subpoena (the “Subpoena”) from the U.S. Attorney’s Office for the Southern District of Florida. The Subpoena requests information and documents generally related to the marketing, sale, and distribution of oxymorphone. The Company has cooperated and produced documents in response to the Subpoena. However, no assurance can be given as to the timing or outcome of the underlying investigation.

On October 7, 2019, Amneal received a subpoena from the New York State Department of Financial Services seeking documents and information related to sales of opioid products in the state of New York. The Company is cooperating with the request and providing responsive information. It is not currently possible to determine the exact outcome of this investigation.

Ranitidine Litigation

The Company and its affiliates have been named as defendants, along with numerous other pharmaceutical manufacturers, wholesale distributors, and retail pharmacy chains, in In re Zantac/Ranitidine NDMA Litigation (MDL No. 2924), pending in the Southern District of Florida. Plaintiffs allege that defendants failed to disclose and/or concealed the alleged inherent presence of N-Nitrosodimethylamine (or “NDMA”) in brand-name Zantac® or generic ranitidine and the alleged associated risk of cancer. Consolidated groups of (a) personal injury plaintiffs, (b) economic loss/medical monitoring class action plaintiffs, and (c) third-party payor plaintiffs have each filed master complaints against brand and generic pharmaceutical manufacturers, distributors, retailers, and repackagers of ranitidine-containing products. The Company or its affiliates have been named in the three master complaints and approximately 316 personal injury short form complaints. On December 31, 2020, the Court dismissed in full the three master complaints against the generic manufacturers, including the Company and its affiliates, with leave to file amended complaints on certain claims relating to manufacturing, storage, and transportation. Plaintiffs filed amended complaints in February 2021, and Defendants filed various motions to dismiss the amended complaints in March 2021. On July 8, 2021, the MDL dismissed all claims against the generic drug manufacturers, including the Company and its affiliates, without leave to file further amended complaints. Plaintiffs have appealed the MDL court’s dismissal to the 11th Circuit Court of Appeals, which has consolidated the appeals of the personal injury cases.

On June 18, 2020, Amneal Pharmaceuticals LLC was named in a lawsuit filed in New Mexico brought by the New Mexico Attorney General alleging claims of public nuisance, negligence, and violations of consumer protection laws against various brand and generic manufacturers and store-brand distributors of Zantac®/Ranitidine. Plaintiff seeks unspecified compensatory and punitive damages, as well as abatement, medical monitoring, restitution, and injunctive relief. The Company filed a motion to dismiss on May 17, 2021, and filed a notice of supplemental authority based on the MDL court’s July 2021 dismissal order. The Court denied the motion on August 17, 2021. The Company filed a motion to dismiss based on lack of personal jurisdiction on January 26, 2022, which remains pending. On November 12, 2020, Amneal Pharmaceuticals LLC was named in a public nuisance and consumer protection lawsuit filed in state court in Baltimore, Maryland, on behalf of the Mayor and City Council of Baltimore. Defendants removed the case to federal court and on April 1, 2021, the case was remanded to state court. On August 23, 2021, the Company filed a motion to dismiss, which was granted.

On October 1, 2021, Amneal Pharmaceuticals LLC, and Amneal Pharmaceuticals of New York, LLC, were named in a lawsuit filed in Pennsylvania state court along with twenty-five other defendants, including brand-name manufacturers, generic manufacturers, and one Pennsylvania-based pharmacy. The Complaint tracks the dismissed master personal injury complaint from the MDL and was removed and subsequently transferred to the MDL on November 9, 2021. Although it has not occurred yet, the case will be remanded to Pennsylvania state court.
On February 8, 2022, plaintiff Gary Ross filed a lawsuit in Illinois state court naming Amneal Pharmaceuticals LLC and Amneal Pharmaceuticals of New York, LLC, along with twenty other defendants, including brand-name manufacturers, generic manufacturers, and retailers. The generic manufacturers filed a motion to dismiss on March 28, 2022.

On March 1, 2022, plaintiff Barbara Martin filed a lawsuit in Illinois state court naming Amneal Pharmaceuticals LLC, Amneal Pharmaceuticals of New York, LLC, and Amneal Pharmaceuticals, Inc., along with seven other defendants, including brand-name manufacturers, generic manufacturers, and retailers. Plaintiff has attempted to serve only Amneal Pharmaceuticals of New York, LLC, and the Company intends to file a motion to dismiss.
Metformin Litigation

Amneal and AvKARE, Inc. were named as defendants, along with numerous other manufacturers, retail pharmacies, and wholesalers, in several putative class action lawsuits pending in the United States District Court for the District of New Jersey (“D.N.J.”), consolidated as In Re Metformin Marketing and Sales Practices Litigation (No. 2:20-cv-02324-MCA-MAH). The lawsuits all allege that defendants made and sold to putative class members generic metformin products that were “adulterated” or “contaminated” with NDMA.

An economic loss complaint filed on behalf of consumers and third-party payors who purchased or paid or made reimbursements for metformin alleges that plaintiffs suffered economic losses in connection with their purchases or reimbursements due to the purported contamination. On May 20, 2021, the Court granted Defendants’ motion to dismiss the economic loss complaint, and Plaintiffs filed an amended complaint on June 21, 2021. Defendants again moved to dismiss, and the Court granted in part and denied in part Defendants’ second motion to dismiss. Initial discovery has begun. Additionally, medical monitoring class action complaints were filed on behalf of consumers who consumed allegedly contaminated metformin allege “cellular damage, genetic harm, and/or are at an increased risk of developing cancer” and seek medical monitoring, including evaluation and treatment. These cases are currently stayed.

On March 29, 2021, a plaintiff filed a complaint in the United States District Court for the Middle District of Alabama asserting claims against manufacturers of Valsartan, Losartan, and Metformin based on the alleged presence of nitrosamines in those products. The only allegations against Amneal concern Metformin. (Davis v. Camber Pharmaceuticals, Inc., et al., C.A. No. 2:21-00254 (M.D. Ala.) (the “Davis Action”)). On May 5, 2021, the JPML transferred the Davis Action into the In re: Valsartan, Losartan, and Irbesartan Products Liability Litigation multi-district litigation for pretrial proceedings.

On October 29, 2021, three plaintiffs filed a complaint in the District Court of Douglas County, Nebraska asserting claims against Amneal based on the alleged presence of nitrosamines in metformin. On January 10, 2022, Amneal removed the case to the United States District Court for the District of Nebraska. (Conrad et al v. Amneal Pharmaceuticals, Inc., No. 22-cv-00011-BCB-SMB (D. Neb.)). Amneal moved to dismiss the complaint on March 3, 2022, and on March 31, 2022, plaintiffs filed an amended complaint.

Xyrem® (Sodium Oxybate) Antitrust Litigation

Amneal has been named as a defendant, along with Jazz Pharmaceuticals, Inc. (“Jazz”) and numerous other manufacturers of generic versions of Jazz’s Xyrem® (sodium oxybate), in several putative class action lawsuits filed in the United States District Court for the Northern District of California and the United States District Court for the Southern District of New York, alleging that the generic manufacturers entered into anticompetitive agreements with Jazz in connection with settling patent litigation related to Xyrem®. Plaintiffs seek unspecified monetary damages and penalties as well as equitable relief, including disgorgement and restitution. On December 16, 2020, the JPML transferred the actions to the United States District Court for the Northern District of California for consolidated pretrial proceedings consolidated as In re Xyrem (Sodium Oxybate) Antitrust Litigation (No. 5:20-md-02966-LHK). Plaintiffs filed a consolidated amended class complaint in March 2021, which Defendants moved to dismiss. On August 13, 2021, the Court granted in part and denied in part Defendants’ motion, dismissing the federal damages claims and several state-law claims, while permitting the remaining claims to proceed. Discovery is currently ongoing.

Value Drug Company v. Takeda Pharmaceuticals U.S.A., Inc.

On August 5, 2021, Value Drug Company filed a purported class action lawsuit in the United States District Court for the Eastern District of Pennsylvania against Takeda Pharmaceuticals U.S.A., Inc. (“Takeda”) and numerous other manufacturers of generic versions of Takeda’s Colcrys® (colchicine), including Amneal Pharmaceuticals LLC, alleging that the generic manufacturers conspired with Takeda to restrict output of generic Colcrys in order to maintain higher prices, in violation of the antitrust laws. The Company, along with the other defendants, moved to dismiss for failure to state a claim, and on December 28, 2021, the Court granted the motion in full, with leave to amend. On January 18, 2022, Plaintiff filed its amended complaint,
making substantively the same antitrust allegations, but alleging that the violations were effectuated by either a single overarching conspiracy or a series of bilateral conspiracies. The Company moved to dismiss the amended complaint for failure to state a claim. On March 30, 2022, the Court granted in part and denied in party defendants’ motion, dismissing the newly pled bilateral conspiracy claims but allowing the revised overarching conspiracy claim to proceed against all defendants.

Galeas v. Amneal Pharmaceuticals, Inc.

On July 27, 2021, Cesy Galeas filed a purported class action lawsuit in the U.S. District Court for the Eastern District of New York against Amneal Pharmaceuticals, Inc., alleging that the payment schedule for certain workers violated New York Labor Law. Specifically, the purported class, which presently consists of one named plaintiff contends that the Company paid the employees all owed wages, but did so bi-weekly, instead of weekly. In March 2022, the parties reached a tentative agreement to settle all claims for $1.2 million, subject to, among other things, the negotiation and court approval of a definitive settlement agreement. The Company recorded a $1.2 million charge associated with this matter for the three months ended March 31, 2022. The Company has not yet responded to the complaint in light of the foregoing tentative settlement agreement.

Russell Thiele, et al. v. Kashiv Biosciences, LLC, et.al.
On March 22, 2022, two purported Amneal stockholders filed a stockholder derivative lawsuit in the Court of Chancery of the State of Delaware against Kashiv and certain members of the Company’s Board of Directors. The Company is named as a nominal defendant. The suit alleges that the Company’s January 2021 acquisition of a 98% interest in KSP, then a wholly owned subsidiary of Kashiv, was unfair to the Company, that the defendant Directors breached fiduciary duties of loyalty and good faith in connection with the transaction, and that the transaction unjustly enriched Kashiv and certain of the defendants who had a financial interest in Kashiv. The suit, which is allegedly brought on the Company’s behalf, seeks among other remedies rescission of the transaction and unspecified monetary damages.
v3.22.1
Segment Information
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has three reportable segments: Generics, Specialty, and AvKARE.
Generics
Generics develops, manufactures and commercializes complex oral solids, injectables, ophthalmics, liquids, topicals, softgels, inhalation products and transdermals across a broad range of therapeutic categories. Generics’ retail and institutional portfolio contains many difficult-to-manufacture products or products that have a high barrier-to-entry, such as oncologics, anti-infectives and supportive care products for healthcare providers.
Specialty
Specialty delivers proprietary medicines to the U.S. market. The Company offers a growing portfolio in core therapeutic categories including central nervous system disorders, endocrinology, parasitic infections and other therapeutic areas. The Company's specialty products are marketed through skilled specialty sales and marketing teams, who call on neurologists, movement disorder specialists, endocrinologists and primary care physicians in key markets throughout the U.S. Specialty also has a number of product candidates that are in varying stages of development.
AvKARE
AvKARE provides pharmaceuticals, medical and surgical products and services primarily to governmental agencies, primarily focused on serving the Department of Defense and the Department of Veterans Affairs.  AvKARE is also a wholesale distributor of bottle and unit dose pharmaceuticals under the registered names of AvKARE and AvPAK, as well as medical and surgical products.  AvKARE is also a packager and wholesale distributor of pharmaceuticals and vitamins to its retail and institutional customers who are located throughout the United States focused primarily on offering 340b-qualified entities products to provide consistency in care and pricing.
Chief Operating Decision Markers
The Company’s chief operating decision makers evaluate the financial performance of the Company’s segments based upon segment operating income (loss). Items below operating income (loss) are not reported by segment, since they are excluded from the measure of segment profitability reviewed by the Company’s chief operating decision makers. Additionally, general and administrative expenses, certain selling expenses, certain litigation settlements, and non-operating income and expenses are
included in “Corporate and Other.” The Company does not report balance sheet information by segment since it is not reviewed by the Company’s chief operating decision makers.
The tables below present segment information reconciled to total Company financial results, with segment operating income (loss) including gross profit less direct selling, general and administrative expenses, research and development expenses, and other operating expenses to the extent specifically identified by segment (in thousands):
Three Months Ended March 31, 2022
Generics (1)
Specialty
AvKARE (1)
Corporate
and Other
Total
Company
Net revenue$317,747 $85,086 $94,800 $— $497,633 
Cost of goods sold199,030 43,853 80,179 — 323,062 
Gross profit118,717 41,233 14,621 — 174,571 
Selling, general and administrative27,593 24,400 13,410 33,262 98,665 
Research and development43,221 9,577 — — 52,798 
Intellectual property legal development expenses (credit)772 (8)— — 764 
Acquisition, transaction-related and integration expenses— — — 434 434 
Charges (credit) related to legal matters, net1,674 — — (4,000)(2,326)
Restructuring and other charges206 — 525 731 
Change in fair value of contingent consideration— 200 — — 200 
Operating income (loss)$45,251 $7,064 $1,211 $(30,221)$23,305 


Three Months Ended March 31, 2021
Generics (1)
Specialty
AvKARE (1)
Corporate
and Other		Total
Company
Net revenue$312,508 $95,931 $84,666 $— $493,105 
Cost of goods sold185,298 48,198 68,047 — 301,543 
Gross profit127,210 47,733 16,619 — 191,562 
Selling, general and administrative18,762 19,881 13,704 38,379 90,726 
Research and development36,117 12,065 — — 48,182 
Intellectual property legal development expenses3,582 — — — 3,582 
Acquisition, transaction-related and integration expenses— — 931 1,871 2,802 
Restructuring and other charges80 — — 283 363 
Operating income (loss)$68,669 $15,787 $1,984 $(40,533)$45,907 

(1)Operating results for the sale of Amneal products by AvKARE are included in Generics.
v3.22.1
Related Party Transactions
 3 Months Ended
Mar. 31, 2022
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
The Company has various business agreements with certain parties in which there is some common ownership. However, the Company does not directly own or manage of any of such related parties. As of and for the three months ended March 31, 2022, there were no material changes to our related party agreements or relationships described in Note 24. Related Party Transactions and Note 22. Stockholders’ Equity in our 2021 Annual Report on Form 10-K.
The following table summarizes the Company’s related party transactions (in thousands):
Three Months Ended March 31,
Related Party and Nature of TransactionCaption in Balance Sheet and Statement of Operations20222021
Kashiv Biosciences LLC
Parking space lease (1)
Cost of goods sold$25 $25 
Development and commercialization agreements - various products (1)
Research and development— 32 
Development and commercialization agreement - Filgrastim and PEG-Filgrastim - regulatory approval milestone for Filgrastim(1)
Selling, general and administrative5,000 — 
Development and commercialization agreement - Ganirelix Acetate and Cetrorelix Acetate (1)
Research and development17 643 
Development and commercialization agreements - various products (2)
Research and development— (109)
Profit sharing - various products (2)
Cost of goods sold— 2,680 
Commercial product support for EluRyng and other products (2)
Inventory and cost of goods sold— 1,239 
K127 development and commercialization agreement (2)
Research and development— 3,000 
Transition services associated with the KSP AcquisitionSelling, general and administrative— 300 
   Total $5,042 $7,810 
LAX Hotel, LLC (3)
Financing leaseInventory and cost of goods sold$— $362 
Interest component of financing leaseInterest expense— 217 
Total $— $579 
Other Related Parties
Kanan, LLC - operating leaseInventory and cost of goods sold$526 $526 
Sutaria Family Realty, LLC - operating leaseInventory and cost of goods sold$296 $287 
PharmaSophia, LLC - research and development services incomeResearch and development$(15)$(257)
Fosun International Limited - license and supply agreementNet revenue$— $— 
Apace KY, LLC d/b/a Apace Packaging LLC - packaging agreementInventory and cost of goods sold$458 $2,101 
Tracy Properties LLC - operating leaseSelling, general and administrative$135 $131 
AzaTech Pharma LLC - supply agreementInventory and cost of goods sold$1,221 $1,143 
AvPROP, LLC - operating leaseSelling, general and administrative$40 $39 
Tarsadia Investments, LLC - financial consulting servicesSelling, general and administrative$— $— 
Avtar Investments, LLC consulting servicesSelling, general and administrative$84 $— 
TPG Operations, LLC consulting servicesSelling, general and administrative$19 $— 
(1) Agreement between Amneal and Kashiv was not affected by the Acquisition of KSP (refer to Note 3. Acquisitions for additional information).
(2) Agreement between Amneal and Kashiv was acquired with KSP and has become a transaction among Amneal’s consolidated subsidiaries subsequent to the transaction closing on April 2, 2021. The disclosure relates to the historical agreement as a related party transaction through April 2, 2021 (refer to Note 3. Acquisitions for additional information).
(3) During January 2021, LAX Hotel LLC sold its interests in the leased buildings to an unrelated third-party. Therefore, this lease was no longer a related party transaction subsequent to that date.
The following table summarizes the amounts due to or from the Company for related party transactions (in thousands):
March 31, 2022December 31, 2021
Kashiv - deferred consideration associated with the KSP Acquisition (1)
$500 $30,500 
Kashiv - various agreements(2)
5,050 314 
Sellers of Puniska - consideration for acquisition (3)
— 14,225 
Apace Packaging LLC - packaging agreement1,148 560 
AzaTech Pharma LLC - supply agreement919 1,783 
Avtar Investments LLC - consulting services59 37 
Sellers of AvKARE LLC and R&S - accrued interest on Sellers Notes (4)
442 442 
Amneal non-controlling interests - tax distributions (5)
6,460 — 
Rondo Class B unit holders - tax distributions (5)
1,375 — 
R&S Solutions7 — 
Related party payables - short term $15,960 $47,861 
PharmaSophia, LLC - research and development agreement$1,096 $1,081 
Sellers of AvKARE LLC and R&S - state tax indemnification52 68 
Kashiv - various agreements21 14 
Apace Packaging, LLC - packaging agreement6 16 
Related party receivables - short term $1,175 $1,179 
Kashiv - contingent consideration (6)
$6,100 $5,900 
Sellers of AvKARE LLC and R&S - accrued interest on Sellers Notes (4)
4,271 3,719 
Related party payables - long term $10,371 $9,619 
(1) As discussed in Note 3. Acquisitions, the purchase price for the KSP Acquisition included a contractually stated amount of deferred consideration of $30.5 million. The deferred consideration consisted of $30.0 million, which the Company paid during January 2022, and $0.5 million, which the Company expects to pay during the second quarter of 2022.
(2) $5.0 million was payable to Kashiv as of March 31, 2022 for regulatory approval of Filgrastim.
(3) As discussed in Note 3. Acquisitions, the purchase price for the Puniska Acquisition included $14.2 million due to the sellers for the satisfaction of a preexisting payable upon approval of the transaction by the government of India. The Company satisfied this liability in March 2022.
(4) Represents accrued interest on the Sellers Notes associated with the Rondo Acquisitions, as defined and discussed in Note 3. Acquisitions and Divestitures and Note 17. Debt in the Company’s 2021 Annual Report on Form 10-K.
(5)    Refer to Note 16. Stockholders’ Equity and Redeemable Non-Controlling Interests.
(6)     The contingent consideration liability was associated with the KSP Acquisition. Refer to Note 3. Acquisitions for additional information.
Puniska Acquisition - Redeemable Non-Controlling Interests
The Company paid $1.7 million for the remaining 26% equity interest of Puniska (included in redeemable non-controlling interests in the Company’s consolidated balance sheet as of December 31, 2021) upon approval of the Puniska Acquisition by the government of India in March 2022.
v3.22.1
Stockholders’ Equity and Redeemable Non-Controlling Interests
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Stockholders’ Equity and Redeemable Non-Controlling Interests Stockholders’ Equity and Redeemable Non-Controlling Interests
Non-Controlling Interests
The Company consolidates the financial statements of Amneal and its subsidiaries and records non-controlling interests for the portion of Amneal’s economic interests that is not held by the Company. Non-controlling interests are adjusted for capital transactions that impact the non-publicly held economic interests in Amneal.
Under the terms of Amneal's limited liability company agreement, as amended, Amneal is obligated to make tax distributions to its members. During the three months ended March 31, 2022 and 2021, the Company recorded net tax distributions of $4.4 million and $9.2 million, respectively, as a reduction of non-controlling interests.
As discussed in Note 3. Acquisitions, the Company acquired a 98% interest in KSP on April 2, 2021. The sellers of KSP, a related party, hold the remaining interest. The Company will attribute 2% of the net income or loss of KSP to the non-controlling interests.
Redeemable Non-Controlling Interests
As discussed in Note 1. Nature of Operations, the Company acquired a 65.1% controlling interest in both AvKARE, LLC and R&S in 2020.  The sellers of AvKARE, LLC and R&S hold the remaining 34.9% interest (“Rondo Class B Units”) in the holding company that directly owns the acquired companies (“Rondo”).  Beginning on January 1, 2026, the holders of the Rondo Class B Units have the right (“Put Right”) to require the Company to acquire the Rondo Class B Units for a purchase price that is based on a multiple of Rondo’s earnings before income taxes, depreciation, and amortization (EBITDA) if certain financial targets and other conditions are met.  Additionally, beginning on January 31, 2020, the Company has the right to acquire the Rondo Class B Units based on the same value and conditions as the Put Right.  The Rondo Class B Units are also redeemable by the holders upon a change in control.
Since the redemption of the Rondo Class B Units is outside of the Company's control, the units have been presented outside of stockholders’ equity as redeemable non-controlling interests. Upon closing of the Rondo Acquisitions, the redeemable non-controlling interests were recorded as a component of the fair value of consideration transferred at an estimated fair value of $11.0 million. The fair value of the redeemable non-controlling interests was estimated using the Monte-Carlo simulation approach under the option pricing framework, which considers the redemption rights of both the Company and the holders of the Rondo Class B Units.

The Company attributes 34.9% of the net income or loss associated with Rondo to redeemable non-controlling interests. The Company will also accrete the redeemable non-controlling interests to redemption value upon an event that makes redemption probable. For the three months ended March 31, 2022 and 2021, the Company recorded tax distributions of $2.0 million and $0.5 million as a reduction of redeemable non-controlling interests, respectively.

Redeemable Non-Controlling Interests - Puniska

As discussed in Note 3. Acquisitions, the Company acquired 74% of the equity interests in Puniska on November 2, 2021. Amneal was required pursuant to the purchase agreement to acquire the remaining 26% of Puniska upon approval of the transaction by the government of India. Since approval of the government of India was outside of the Company’s control, upon closing of the Puniska Acquisition, the equity interests of Puniska that the Company did not own were presented outside of stockholders' equity as redeemable non-controlling interests. The Company attributed 26% of the net losses of Puniska to the redeemable non-controlling interests.
Upon approval of the transaction by the government of India in March 2022, the Company paid the $1.7 million redemption value for the remaining 26% of the equity interests of Puniska. For the three months ended March 31, 2022, the Company recorded accretion of $0.9 million to increase the redeemable non-controlling interests to redemption value.
Changes in Accumulated Other Comprehensive Loss by Component (in thousands):
Foreign
currency
translation
adjustment		Unrealized (loss) gain on cash
flow hedge, net
of tax		Accumulated
other
comprehensive
loss
Balance December 31, 2020$(14,497)$(26,821)$(41,318)
Other comprehensive loss before reclassification(4,255)20,972 16,717 
Reallocation of ownership interests(93)(133)(226)
Balance December 31, 2021(18,845)(5,982)(24,827)
Other comprehensive loss before reclassification(2,024)26,614 24,590 
Reallocation of ownership interests(86)(26)(112)
Balance March 31, 2022$(20,955)$20,606 $(349)
v3.22.1
Prepaid Expenses and Other Current Assets
 3 Months Ended
Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Prepaid Expenses and Other Current Assets Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets are comprised of the following (in thousands):
March 31,
2022		December 31,
2021
Deposits and advances$1,595 $1,174 
Prepaid insurance4,841 7,962 
Prepaid regulatory fees2,539 3,710 
Income and other tax receivables10,466 8,850 
Prepaid taxes18,255 16,085 
Other current receivables (1)
47,213 42,770 
Other prepaid assets23,562 17,309 
Chargebacks receivable (2)
12,937 12,358 
Total prepaid expenses and other current assets$121,408 $110,218 
(1)As discussed in Note 13. Commitments and Contingencies, the Company recorded receivables from insurers of $37.0 million and $33.0 million as of March 31, 2022 and December 31, 2021, respectively, associated with insured securities class action lawsuits.
(2)When a sale occurs on a contract item, the difference between the cost paid to the manufacturer by the Company and the contract cost that the end customer has with the manufacturer is rebated back to the Company by the manufacturer. The Company establishes a chargeback (rebate) receivable and a reduction to cost of goods sold in the same period as the related sale.
v3.22.1
Other Assets
 3 Months Ended
Mar. 31, 2022
Other Assets [Abstract]  
Other Assets Other Assets
Other assets were comprised of the following (in thousands):

March 31,
2022		December 31,
2021
Interest rate swap (1)
$42,151 $— 
Security deposits 4,245 3,895 
Long-term prepaid expenses6,886 5,896 
Deferred revolving credit facility costs1,345 1,603 
Other long term assets9,316 9,220 
Total $63,943 $20,614 
(1)Refer to Note 10. Fair Value Measurements and Note 11. Financial Instruments for information about the Company’s interest rate swap.
v3.22.1
Government Grants
 3 Months Ended
Mar. 31, 2022
Receivables [Abstract]  
Government Grants Government Grants
In November 2021, Amneal Pharmaceuticals Private Limited, a subsidiary of the Company in India, was selected as one of 55 companies to participate in the Production Linked Incentive Scheme for the Pharmaceutical Sector (“PLI Scheme”). The government of India established the PLI Scheme to make India’s domestic manufacturing more globally competitive and to create global champions within the pharmaceutical sector by encouraging investment and product diversification with a focus on manufacturing complex and high value goods.

Under the PLI Scheme, the Company is eligible to receive up to 10 billion Indian rupees, or approximately $132.3 million (based on conversion rates as of March 31, 2022), over a maximum six-year period, starting in 2022. To be eligible to receive the cash incentives, Amneal must achieve (i) minimum cumulative expenditures towards developmental and/or capital investments and (ii) a minimum percentage growth in sales of eligible products. The Company will recognize the related grant incentives in the consolidated statements of operations on a systematic basis over the term of the grant starting in the second quarter of 2022.
v3.22.1
Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
The accompanying unaudited consolidated financial statements, which are prepared in accordance with generally accepted accounting principles in the United States of America, should be read in conjunction with Amneal’s annual audited financial statements for the year ended December 31, 2021 included in the Company’s 2021 Annual Report on Form 10-K. Certain information and footnote disclosures normally included in annual financial statements have been omitted from the accompanying unaudited consolidated financial statements. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company's financial position as of March 31, 2022, cash flows for the three months ended March 31, 2022 and 2021 and the results of its operations, its comprehensive income and its changes in stockholders’ equity for the three months ended March 31, 2022 and 2021. The consolidated balance sheet data at December 31, 2021 was derived from the Company’s audited annual financial statements, but does not include all disclosures required by generally accepted accounting principles in the United States of America.
Except for the updates included in this Note, the accounting policies of the Company are set forth in Note 2. Summary of Significant Accounting Policies contained in the Company’s 2021 Annual Report on Form 10-K.
Use of Estimates
Use of Estimates
The preparation of financial statements requires the Company's management to make estimates and assumptions that affect the reported financial position at the date of the financial statements and the reported results of operations during the reporting period. Such estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses, and disclosure of contingent assets and liabilities in the consolidated financial statements and accompanying notes. The following are some, but not all, of such estimates: the determination of chargebacks, sales returns, rebates, billbacks, valuation of intangible and other assets acquired in business combinations, allowances for accounts receivable, accrued liabilities, initial and subsequent valuation of contingent consideration recognized in business combinations, stock-based compensation, valuation of inventory balances, the determination of useful lives for product rights and the assessment of expected cash flows used in evaluating goodwill and other long-lived assets for impairment. Actual results could differ from those estimates.
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements
In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides elective amendments for entities that have contracts, hedging relationships and other transactions that reference
LIBOR or another reference rate expected to be discontinued because of reference rate reform.  These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848), to expand and clarify the scope of Topic 848 to include derivative instruments on discounting transactions. The amendments in this ASU are effective in the same timeframe as ASU 2020-04. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements.
Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers
In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers. The update will generally result in an entity recognizing contract assets and contract liabilities at amounts consistent with those recorded by the acquiree immediately before the acquisition date rather than at fair value. The new standard is effective on a prospective basis for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements.
Government Assistance (Topic 832): Disclosures by Business Entities About Government Assistance
In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832), Disclosures by Business Entities About Government Assistance, which requires entities to provide disclosures on material government assistance transactions for annual reporting periods. The disclosures include information around the nature of the assistance, the related accounting policies used to account for government assistance, the effect of government assistance on the entity’s financial statements, and any significant terms and conditions of the agreements, including commitments and contingencies. The new standard is effective for the Company on January 1, 2022 and only impacts annual financial statement footnote disclosures. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements.
Performance Obligations The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers. Revenue is recognized when the Company transfers control of its products to the customer, which typically occurs at a point-in-time, either upon shipment or delivery. Substantially all of the Company’s net revenues relate to products which are transferred to the customer at a point-in-time.
v3.22.1
Acquisitions (Tables)
 3 Months Ended
Mar. 31, 2022
Business Acquisition [Line Items]  
Schedule of Asset Acquisition The preliminary purchase price was calculated as follows (in thousands):
Cash$84,714 
Contingent consideration (royalties) (1)
8,796 
Fair value of consideration transferred$93,510 
(1)The estimated fair value of contingent consideration on the acquisition date was $8.8 million and was based on significant Level 3 inputs that were not observable in the market. Key assumptions included the discount rate, projected year of payments and expected net product sales. Refer to Note 10. Fair Value Measurements, for additional information on the methodology and determination of this liability.
The following is a summary of the preliminary purchase price allocation for the Saol Acquisition (in thousands):
Preliminary Fair Values as of
February 9, 2022
Inventory$2,162 
Prepaid expenses and other current assets98 
Goodwill7,553 
Intangible assets83,815 
Total assets acquired93,628 
Accounts payable and accrued expenses118 
Fair value of consideration transferred$93,510 
Saol Baclofen Franchise Acquisition  
Business Acquisition [Line Items]  
Schedule of Acquired Intangible Assets
The acquired intangible assets are being amortized over their estimated useful lives as follows (in thousands):

Fair Value		Weighted-Average
Useful Life (in years)
Marketed product rights$83,815 11.6
Puniska Healthcare Pvt Ltd  
Business Acquisition [Line Items]  
Schedule of Purchase Price
The Puniska Acquisition, excluding the land acquired in December 2021, was accounted for under the acquisition method of accounting, with Amneal as the accounting acquirer. The preliminary purchase price was calculated as follows (in thousands):
Cash (1)
$72,880 
Payable to sellers (2)
14,162 
Fair value of consideration transferred$87,042 
(1)     Cash includes the payment made upon execution of the agreement.
(2)     Due to the short-term nature of that payable to the sellers, the principal amount approximates fair value.
Schedule of Purchase Price Allocation
The following is a summary of the preliminary purchase price allocation for the Puniska Acquisition (in thousands):
Fair Values as of
November 2, 2021
Cash$165 
Trade accounts receivable, net 232 
Inventories1,092 
Prepaid expenses and other current assets4,473 
Property, plant and equipment 53,423 
Goodwill30,091 
Operating lease-right-of-use assets 234 
Other assets 1,303 
Total assets acquired91,013 
Accounts payable and accrued expenses1,732 
Operating lease liabilities234 
Other long-term liabilities263 
Total liabilities assumed2,229 
Redeemable non-controlling interests 1,742 
Fair value of consideration transferred$87,042 
Kashiv Specialty Pharmaceuticals, LLC  
Business Acquisition [Line Items]  
Schedule of Purchase Price
The purchase price was calculated as follows (in thousands):
Cash, including working capital payments$74,440 
Deferred consideration (1)
30,099 
Contingent consideration (regulatory milestones) (2)
500 
Contingent consideration (royalties) (2)
5,200 
Settlement of Amneal trade accounts payable due to KSP (3)
(7,117)
Fair value consideration transferred$103,122 

(1)The deferred consideration was stated at the fair value estimate of $30.1 million, which is the $30.5 million contractually stated amount less a $0.4 million discount. The deferred consideration consisted of $30.0 million, which the Company paid in January 2022 and $0.5 million, which the Company expects to pay during the three months ending June 30, 2022. As the deferred consideration is non-interest bearing, the Company, using guideline companies and market borrowings with comparable risk profiles, discounted the deferred consideration at 1.7% over the period from April 2, 2021 to the maturity dates, for a fair value of $30.1 million on the date of acquisition. This discount was amortized to interest expense over the life of the deferred consideration utilizing the effective interest rate method.

(2)    Kashiv is eligible to receive up to an additional $8.0 million in contingent payments upon the achievement of certain regulatory milestones and potential royalty payments from high single-digits to mid double-digits, depending on the amount of aggregate annual net sales for certain future pharmaceutical products. The estimated fair value of contingent consideration on the acquisition date was $5.7 million and was based on significant Level 3 inputs that were not observable in the market. Key assumptions included the discount rate, probability of achievement of milestones, projected year of payments and expected net product sales. Refer to Note 10. Fair Value Measurements, for additional information on the methodology and determination of this liability.

(3)    Represented trade accounts payable due to KSP that were effectively settled upon closing of the KSP Acquisition.
Schedule of Purchase Price Allocation
The following is a summary of the purchase price allocation for the KSP Acquisition (in thousands):
Final Fair Values as of
April 2, 2021
Cash$112 
Restricted cash500 
Prepaid expenses and other current assets381 
Property, plant and equipment5,375 
Goodwill43,530 
Intangible assets56,400 
Operating lease right-of-use assets9,367 
Total assets acquired115,665 
Accounts payable and accrued expenses1,239 
Operating lease liability9,177 
Related party payable127 
Total liabilities assumed10,543 
Non-controlling interests2,000 
Fair value of consideration transferred$103,122 
Schedule of Acquired Intangible Assets
The acquired intangible assets are being amortized over their estimated useful lives as follows (in thousands):

Fair Value		Weighted-Average
Useful Life (in years)
Marketed product rights$29,400 5.9
v3.22.1
Revenue Recognition (Tables)
 3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue by Major Customers by Reporting Segments
The following table summarizes revenues from each of our customers which individually accounted for 10% or more of our total net revenues:
Three Months Ended March 31,
20222021
Customer A19 %20 %
Customer B18 %19 %
Customer C23 %26 %
Schedule of Disaggregated Revenue The Company's significant therapeutic classes for its Generics and Specialty segments and sales channels for its AvKARE segment, as determined based on net revenue for the three months ended March 31, 2022 and 2021 are set forth below (in thousands):
Three Months Ended March 31,
20222021
Generics
Anti-Infective$6,245 $5,913 
Hormonal/ Allergy96,368 106,703 
Antiviral (1)
10,571 (7,941)
Central Nervous System81,125 96,291 
Cardiovascular System23,453 35,311 
Gastroenterology16,620 19,458 
Oncology17,208 19,030 
Metabolic Disease/Endocrine11,233 6,557 
Respiratory5,665 8,178 
Dermatology13,477 12,878 
Other therapeutic classes35,360 9,731 
International and other422 399 
Total Generics net revenue317,747 312,508 
Specialty
Hormonal/ Allergy19,419 16,796 
Central Nervous System58,168 67,711 
Gastroenterology70 — 
Other therapeutic classes7,429 11,424 
Total Specialty net revenue85,086 95,931 
AvKARE
Distribution60,263 45,499 
Government Label24,459 31,072 
Institutional6,315 5,179 
Other3,763 2,916 
Total AvKARE net revenue94,800 84,666 
Total net revenue$497,633 $493,105 
(1) Antiviral net revenue for the three months ended March 31, 2021 reflected lower demand and increased returns activity for Oseltamivir (generic Tamiflu®) above historical levels due to decreased influenza activity during the COVID-19 pandemic.
Schedule of Major Categories of Sales-Related Deductions
A rollforward of the major categories of sales-related deductions for the three months ended March 31, 2022 is as follows (in thousands):
Contract
Charge - Backs
and Sales
Volume
Allowances		Cash Discount
Allowances		Accrued
Returns
Allowance		Accrued
Medicaid and
Commercial
Rebates
Balance at December 31, 2021$503,902 $23,642 $161,978 $85,737 
Provision related to sales recorded in the period728,830 24,852 19,207 18,452 
Credits/payments issued during the period(861,717)(25,920)(25,629)(35,313)
Balance at March 31, 2022$371,015 $22,574 $155,556 $68,876 
v3.22.1
(Loss) Earnings per Share (Tables)
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Schedule of Earnings (Loss) Per Share, Basic and Diluted
The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted (loss) earnings per share of class A common stock (in thousands, except per share amounts):
Three Months Ended
March 31,
20222021
Numerator:
Net (loss) income attributable to Amneal Pharmaceuticals, Inc.$(2,156)$6,706 
Denominator:
Weighted-average shares outstanding - basic149,892 148,013 
Effect of dilutive securities:
Stock options— 792 
Restricted stock units— 2,415 
Weighted-average shares outstanding - diluted
149,892 151,220 
Net (loss) earnings per share attributable to Amneal Pharmaceuticals, Inc.'s class A common stockholders:
Basic$(0.01)$0.05 
Diluted$(0.01)$0.04 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following table presents potentially dilutive securities excluded from the computations of diluted (loss) earnings per share of class A common stock (in thousands):
Three Months Ended
March 31,
20222021
Stock options
3,035 
(1)
347 
(3)
Restricted stock units
11,430 
(1)
— 

Performance stock units
7,947 
(1)
5,124 
(4)
Shares of class B common stock152,117 
(2)
152,117 
(2)
(1)Excluded from the computation of diluted loss per share of class A common stock because the effect of their inclusion would have been anti-dilutive since there was a net loss attributable to the Company for the three months ended March 31, 2022.
(2)Shares of class B common stock are considered potentially dilutive shares of class A common stock. Shares of class B common stock have been excluded from the computations of diluted (loss) earnings per share because the effect of their inclusion would have been anti-dilutive under the if-converted method.   
(3)Excluded from the computation of diluted earnings per share of class A common stock because the exercise price of the stock options exceeded the average market price of the class A common stock during the periods (out-of-the-money.
(4)Excluded from the computation of diluted earnings per share of class A common stock because the performance vesting conditions were not met.
v3.22.1
Trade Accounts Receivable, Net (Tables)
 3 Months Ended
Mar. 31, 2022
Receivables [Abstract]  
Schedule of Trade Accounts Receivable, Net
Trade accounts receivable, net was comprised of the following (in thousands):
March 31,
2022		December 31,
2021
Gross accounts receivable$933,577 $1,191,792 
Allowance for credit losses(1,679)(1,665)
Contract charge-backs and sales volume allowances(371,015)(503,902)
Cash discount allowances(22,574)(23,642)
Subtotal(395,268)(529,209)
Trade accounts receivable, net$538,309 $662,583 
Schedules of Percent of Gross Trade Receivables
Concentration of Receivables
Trade accounts receivable from customers representing 10% or more of the Company’s total trade accounts receivable were as follows:
March 31,
2022		December 31,
2021
Customer A31 %37 %
Customer B21 %24 %
Customer C31 %25 %
v3.22.1
Inventories (Tables)
 3 Months Ended
Mar. 31, 2022
Inventory Disclosure [Abstract]  
Components of Inventories
Inventories were comprised of the following (in thousands):
March 31,
2022		December 31,
2021
Raw materials
$212,849 $214,508 
Work in process
64,519 47,802 
Finished goods
234,873 227,079 
Total inventories$512,241 $489,389 
v3.22.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table sets forth the Company’s financial assets and liabilities that were measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021 (in thousands):
Fair Value Measurement Based on
March 31, 2022TotalQuoted
Prices in
Active
Markets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets and Liabilities
Interest rate swap asset (1)
$42,151 $— $42,151 $— 
Deferred compensation plan liabilities (2)
$12,817 $— $12,817 $— 
Contingent consideration liabilities (3)
$14,896 $— $— $14,896 
December 31, 2021
Liabilities
Interest rate swap liability (1)
$11,473 $— $11,473 $— 
Deferred compensation plan liabilities (2)
$13,883 $— $13,883 $— 
Contingent consideration liability (3)
$5,900 $— $— $5,900 
(1)The fair value measurement of the Company’s interest rate swap classified within Level 2 of the fair value hierarchy is a model-derived valuation as of a given date in which all significant inputs are observable in active markets including
certain financial information and certain assumptions regarding past, present, and future market conditions. Refer to Note 11. Financial Instruments for information on the Company's interest rate swap.
(2)These liabilities are recorded at the value of the amount owed to the plan participants, with changes in value recognized as compensation expense. The calculation of the deferred compensation plan obligation is derived from observable market data by reference to hypothetical investments selected by the participants.
(3)The fair value measurement of contingent consideration liabilities has been classified as Level 3 recurring liabilities as the valuations require judgment and estimation of factors that are not currently observable in the market. If different assumptions were used for various inputs, the estimated fair values could be higher or lower than what the Company determined. As of March 31, 2022, contingent consideration liabilities of $6.1 million associated with the KSP Acquisition and $8.8 million associated with the Saol Acquisition were recorded within related party payables - long term and other long-term liabilities, respectively. As of December 31, 2021, a contingent consideration liability of $5.9 million associated with the KSP Acquisition was recorded within related party payables - long term. Refer to Note 3. Acquisitions for additional information related to contingent consideration associated with the KSP Acquisition and the Saol Acquisition.
Reconciliation of Contingent Consideration Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3)
The following table provides a reconciliation of the contingent consideration liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in thousands):

Three Months Ended
March 31, 2022
Balance, beginning of period$5,900 
Addition due to the Saol Acquisition8,796 
Change in fair value during the period200 
Balance, end of period$14,896 
Significant Inputs Used in Fair Value Measurements
The following table summarizes the significant unobservable inputs used in the fair value measurement of our contingent consideration liabilities as of March 31, 2022:

Contingent Consideration Liability
Fair Value as of
March 31, 2022
(in thousands)
Unobservable inputRange
Weighted Average(1)
Regulatory Milestones (KSP Acquisition)$500Discount rate4.3%-6.0%4.5%
Probability of payment1.8%-20.0%16.7%
Projected year of payment2023-20272023
Royalties (KSP Acquisition)$5,600Discount rate11.5%-11.5%11.5%
Probability of payment1.8%-20.0%18.0%
Projected year of payment2023-20322029
Royalties (Saol Acquisition)$8,796Discount rate 16.9%16.9%16.9%
Projected year of payment 202320372027

(1) Unobservable inputs were weighted by the relative fair value of each product candidate acquired.
v3.22.1
Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Fair Values of Derivative Instruments in Consolidated Balance Sheets
A summary of the fair values of derivative instruments in the consolidated balance sheets was as follows (in thousands):
March 31, 2022December 31, 2021
Derivatives Designated as Hedging InstrumentsBalance Sheet
Classification		Fair ValueBalance Sheet
Classification		Fair Value
Variable-to-fixed interest rate swapOther Assets$42,151 Other long-term liabilities$11,473 
v3.22.1
Goodwill and Other Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The changes in goodwill for the three months ended March 31, 2022 and for the year ended December 31, 2021 were as follows (in thousands):
March 31,
2022		December 31,
2021
Balance, beginning of period$593,017 $522,814 
Goodwill acquired during the period 7,553 70,584 
Adjustment during the period for Puniska Acquisition3,075 — 
Currency translation(752)(381)
Balance, end of period$602,893 $593,017 
Schedule of Finite-Lived Intangible Assets
Intangible assets at March 31, 2022 and December 31, 2021 were comprised of the following (in thousands):
March 31, 2022December 31, 2021
Weighted-Average
Amortization Period
(in years)		CostAccumulated
Amortization		NetCostAccumulated
Amortization		Net
Amortizing intangible assets:
Product rights8.3$1,205,374 $(471,785)$733,589 $1,122,612 $(436,902)$685,710 
Other intangible assets4.7133,800 (62,996)70,804 133,800 (58,013)75,787 
Subtotal$1,339,174 $(534,781)$804,393 $1,256,412 $(494,915)$761,497 
In-process research and development
405,425 — 405,425 405,425 — 405,425 
Total intangible assets$1,744,599 $(534,781)$1,209,818 $1,661,837 $(494,915)$1,166,922 
Finite-lived Intangible Assets Amortization Expense
Amortization expense related to intangible assets was as follows (in thousands):
Three Months Ended March 31,
20222021
Amortization$40,919 $41,672 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
The following table presents future amortization expense for the next five years and thereafter, excluding $405.4 million of IPR&D intangible assets (in thousands):
Future
Amortization
Remainder of 2022$126,846 
2023156,567 
2024148,179 
2025110,773 
202664,159 
Thereafter197,869 
   Total$804,393 
v3.22.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The tables below present segment information reconciled to total Company financial results, with segment operating income (loss) including gross profit less direct selling, general and administrative expenses, research and development expenses, and other operating expenses to the extent specifically identified by segment (in thousands):
Three Months Ended March 31, 2022
Generics (1)
Specialty
AvKARE (1)
Corporate
and Other
Total
Company
Net revenue$317,747 $85,086 $94,800 $— $497,633 
Cost of goods sold199,030 43,853 80,179 — 323,062 
Gross profit118,717 41,233 14,621 — 174,571 
Selling, general and administrative27,593 24,400 13,410 33,262 98,665 
Research and development43,221 9,577 — — 52,798 
Intellectual property legal development expenses (credit)772 (8)— — 764 
Acquisition, transaction-related and integration expenses— — — 434 434 
Charges (credit) related to legal matters, net1,674 — — (4,000)(2,326)
Restructuring and other charges206 — 525 731 
Change in fair value of contingent consideration— 200 — — 200 
Operating income (loss)$45,251 $7,064 $1,211 $(30,221)$23,305 


Three Months Ended March 31, 2021
Generics (1)
Specialty
AvKARE (1)
Corporate
and Other		Total
Company
Net revenue$312,508 $95,931 $84,666 $— $493,105 
Cost of goods sold185,298 48,198 68,047 — 301,543 
Gross profit127,210 47,733 16,619 — 191,562 
Selling, general and administrative18,762 19,881 13,704 38,379 90,726 
Research and development36,117 12,065 — — 48,182 
Intellectual property legal development expenses3,582 — — — 3,582 
Acquisition, transaction-related and integration expenses— — 931 1,871 2,802 
Restructuring and other charges80 — — 283 363 
Operating income (loss)$68,669 $15,787 $1,984 $(40,533)$45,907 

(1)Operating results for the sale of Amneal products by AvKARE are included in Generics.
v3.22.1
Related Party Transactions (Tables)
 3 Months Ended
Mar. 31, 2022
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The following table summarizes the Company’s related party transactions (in thousands):
Three Months Ended March 31,
Related Party and Nature of TransactionCaption in Balance Sheet and Statement of Operations20222021
Kashiv Biosciences LLC
Parking space lease (1)
Cost of goods sold$25 $25 
Development and commercialization agreements - various products (1)
Research and development— 32 
Development and commercialization agreement - Filgrastim and PEG-Filgrastim - regulatory approval milestone for Filgrastim(1)
Selling, general and administrative5,000 — 
Development and commercialization agreement - Ganirelix Acetate and Cetrorelix Acetate (1)
Research and development17 643 
Development and commercialization agreements - various products (2)
Research and development— (109)
Profit sharing - various products (2)
Cost of goods sold— 2,680 
Commercial product support for EluRyng and other products (2)
Inventory and cost of goods sold— 1,239 
K127 development and commercialization agreement (2)
Research and development— 3,000 
Transition services associated with the KSP AcquisitionSelling, general and administrative— 300 
   Total $5,042 $7,810 
LAX Hotel, LLC (3)
Financing leaseInventory and cost of goods sold$— $362 
Interest component of financing leaseInterest expense— 217 
Total $— $579 
Other Related Parties
Kanan, LLC - operating leaseInventory and cost of goods sold$526 $526 
Sutaria Family Realty, LLC - operating leaseInventory and cost of goods sold$296 $287 
PharmaSophia, LLC - research and development services incomeResearch and development$(15)$(257)
Fosun International Limited - license and supply agreementNet revenue$— $— 
Apace KY, LLC d/b/a Apace Packaging LLC - packaging agreementInventory and cost of goods sold$458 $2,101 
Tracy Properties LLC - operating leaseSelling, general and administrative$135 $131 
AzaTech Pharma LLC - supply agreementInventory and cost of goods sold$1,221 $1,143 
AvPROP, LLC - operating leaseSelling, general and administrative$40 $39 
Tarsadia Investments, LLC - financial consulting servicesSelling, general and administrative$— $— 
Avtar Investments, LLC consulting servicesSelling, general and administrative$84 $— 
TPG Operations, LLC consulting servicesSelling, general and administrative$19 $— 
(1) Agreement between Amneal and Kashiv was not affected by the Acquisition of KSP (refer to Note 3. Acquisitions for additional information).
(2) Agreement between Amneal and Kashiv was acquired with KSP and has become a transaction among Amneal’s consolidated subsidiaries subsequent to the transaction closing on April 2, 2021. The disclosure relates to the historical agreement as a related party transaction through April 2, 2021 (refer to Note 3. Acquisitions for additional information).
(3) During January 2021, LAX Hotel LLC sold its interests in the leased buildings to an unrelated third-party. Therefore, this lease was no longer a related party transaction subsequent to that date.
The following table summarizes the amounts due to or from the Company for related party transactions (in thousands):
March 31, 2022December 31, 2021
Kashiv - deferred consideration associated with the KSP Acquisition (1)
$500 $30,500 
Kashiv - various agreements(2)
5,050 314 
Sellers of Puniska - consideration for acquisition (3)
— 14,225 
Apace Packaging LLC - packaging agreement1,148 560 
AzaTech Pharma LLC - supply agreement919 1,783 
Avtar Investments LLC - consulting services59 37 
Sellers of AvKARE LLC and R&S - accrued interest on Sellers Notes (4)
442 442 
Amneal non-controlling interests - tax distributions (5)
6,460 — 
Rondo Class B unit holders - tax distributions (5)
1,375 — 
R&S Solutions7 — 
Related party payables - short term $15,960 $47,861 
PharmaSophia, LLC - research and development agreement$1,096 $1,081 
Sellers of AvKARE LLC and R&S - state tax indemnification52 68 
Kashiv - various agreements21 14 
Apace Packaging, LLC - packaging agreement6 16 
Related party receivables - short term $1,175 $1,179 
Kashiv - contingent consideration (6)
$6,100 $5,900 
Sellers of AvKARE LLC and R&S - accrued interest on Sellers Notes (4)
4,271 3,719 
Related party payables - long term $10,371 $9,619 
(1) As discussed in Note 3. Acquisitions, the purchase price for the KSP Acquisition included a contractually stated amount of deferred consideration of $30.5 million. The deferred consideration consisted of $30.0 million, which the Company paid during January 2022, and $0.5 million, which the Company expects to pay during the second quarter of 2022.
(2) $5.0 million was payable to Kashiv as of March 31, 2022 for regulatory approval of Filgrastim.
(3) As discussed in Note 3. Acquisitions, the purchase price for the Puniska Acquisition included $14.2 million due to the sellers for the satisfaction of a preexisting payable upon approval of the transaction by the government of India. The Company satisfied this liability in March 2022.
(4) Represents accrued interest on the Sellers Notes associated with the Rondo Acquisitions, as defined and discussed in Note 3. Acquisitions and Divestitures and Note 17. Debt in the Company’s 2021 Annual Report on Form 10-K.
(5)    Refer to Note 16. Stockholders’ Equity and Redeemable Non-Controlling Interests.
(6)     The contingent consideration liability was associated with the KSP Acquisition. Refer to Note 3. Acquisitions for additional information.
v3.22.1
Stockholders’ Equity and Redeemable Non-Controlling Interests (Tables)
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Schedule of Changes in Accumulated Other Comprehensive Loss by Component
Changes in Accumulated Other Comprehensive Loss by Component (in thousands):
Foreign
currency
translation
adjustment		Unrealized (loss) gain on cash
flow hedge, net
of tax		Accumulated
other
comprehensive
loss
Balance December 31, 2020$(14,497)$(26,821)$(41,318)
Other comprehensive loss before reclassification(4,255)20,972 16,717 
Reallocation of ownership interests(93)(133)(226)
Balance December 31, 2021(18,845)(5,982)(24,827)
Other comprehensive loss before reclassification(2,024)26,614 24,590 
Reallocation of ownership interests(86)(26)(112)
Balance March 31, 2022$(20,955)$20,606 $(349)
v3.22.1
Prepaid Expenses and Other Current Assets (Tables)
 3 Months Ended
Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets are comprised of the following (in thousands):
March 31,
2022		December 31,
2021
Deposits and advances$1,595 $1,174 
Prepaid insurance4,841 7,962 
Prepaid regulatory fees2,539 3,710 
Income and other tax receivables10,466 8,850 
Prepaid taxes18,255 16,085 
Other current receivables (1)
47,213 42,770 
Other prepaid assets23,562 17,309 
Chargebacks receivable (2)
12,937 12,358 
Total prepaid expenses and other current assets$121,408 $110,218 
(1)As discussed in Note 13. Commitments and Contingencies, the Company recorded receivables from insurers of $37.0 million and $33.0 million as of March 31, 2022 and December 31, 2021, respectively, associated with insured securities class action lawsuits.
(2)When a sale occurs on a contract item, the difference between the cost paid to the manufacturer by the Company and the contract cost that the end customer has with the manufacturer is rebated back to the Company by the manufacturer. The Company establishes a chargeback (rebate) receivable and a reduction to cost of goods sold in the same period as the related sale.
v3.22.1
Other Assets (Tables)
 3 Months Ended
Mar. 31, 2022
Other Assets [Abstract]  
Schedule of Other Assets
Other assets were comprised of the following (in thousands):

March 31,
2022		December 31,
2021
Interest rate swap (1)
$42,151 $— 
Security deposits 4,245 3,895 
Long-term prepaid expenses6,886 5,896 
Deferred revolving credit facility costs1,345 1,603 
Other long term assets9,316 9,220 
Total $63,943 $20,614 
(1)Refer to Note 10. Fair Value Measurements and Note 11. Financial Instruments for information about the Company’s interest rate swap.
v3.22.1
Nature of Operations - Additional Information (Details)
Mar. 31, 2022
Dec. 31, 2020
Amneal Group    
Noncontrolling Interest [Line Items]    
Ownership by parent (percent) 49.80%  
Amneal Group | Amneal Group    
Noncontrolling Interest [Line Items]    
Ownership percentage by noncontrolling owners (percent) 50.20%  
AvKARE and R&S Acquisitions    
Noncontrolling Interest [Line Items]    
Voting interest acquired (percent)   65.10%
v3.22.1
Acquisitions - Additional Information (Details) - USD ($)
 2 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Mar. 01, 2022
Feb. 09, 2022
Dec. 31, 2021
Nov. 02, 2021
Apr. 02, 2021
Mar. 31, 2022
Dec. 31, 2021
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Dec. 31, 2021
Nov. 01, 2021
Dec. 31, 2020
Business Acquisition [Line Items]                          
Goodwill     $ 593,017,000     $ 602,893,000 $ 593,017,000 $ 602,893,000   $ 593,017,000 $ 593,017,000   $ 522,814,000
Net revenue               497,633,000 $ 493,105,000        
Operating income               23,305,000 45,907,000        
Intangible assets     1,256,412,000     1,339,174,000 1,256,412,000 1,339,174,000   1,256,412,000 1,256,412,000    
Specialty                          
Business Acquisition [Line Items]                          
Goodwill     363,900,000     $ 366,300,000 363,900,000 366,300,000   363,900,000 363,900,000    
Net revenue               $ 85,086,000 95,931,000        
Marketed product rights                          
Business Acquisition [Line Items]                          
Intangible assets acquired         $ 83,815,000                
Puniska Healthcare Pvt Ltd                          
Business Acquisition [Line Items]                          
Goodwill                       $ 30,091,000  
Definitive acquisition agreement amount       $ 93,000,000                  
Consideration paid in cash on hand $ 1,700,000   $ 14,162,000 $ 72,880,000                  
Voting interest acquired (percent) 26.00%     74.00%   26.00%   26.00%          
Acquired non-controlling interest, non-public subsidiary                     $ 4,300,000    
Acquisition, transaction costs               $ 0 $ 0        
Total consideration, net of cash acquired             $ 87,042,000            
Kashiv Specialty Pharmaceuticals, LLC                          
Business Acquisition [Line Items]                          
Goodwill         43,530,000                
Consideration paid in cash on hand         $ 100,100,000                
Voting interest acquired (percent)         98.00%                
Acquisition, transaction costs               1,200,000          
Total consideration, net of cash acquired         $ 104,500,000         $ 103,122,000      
Working capital costs         4,400,000                
Intangible assets         56,400,000                
Kashiv Specialty Pharmaceuticals, LLC | Generics                          
Business Acquisition [Line Items]                          
Goodwill         40,800,000                
Kashiv Specialty Pharmaceuticals, LLC | Specialty                          
Business Acquisition [Line Items]                          
Goodwill         2,700,000                
Kashiv Specialty Pharmaceuticals, LLC | Marketed product rights                          
Business Acquisition [Line Items]                          
Intangible assets acquired         29,400,000                
Kashiv Specialty Pharmaceuticals, LLC | In-process research and development                          
Business Acquisition [Line Items]                          
Intangible assets         27,000,000                
Saol Baclofen Franchise Acquisition | Generics                          
Business Acquisition [Line Items]                          
Goodwill         5,200,000                
Saol Baclofen Franchise Acquisition | Specialty                          
Business Acquisition [Line Items]                          
Goodwill         $ 2,400,000                
Saol Baclofen Franchise Acquisition                          
Business Acquisition [Line Items]                          
Payment for asset acquisition   $ 84,714,000                      
Asset acquisition, inventory acquired   $ 1,100,000                      
Asset acquisition, transaction cost               $ 100,000          
Net revenue           $ 2,900,000              
Operating income           $ 100,000              
v3.22.1
Acquisitions - Payments to Acquire Business (Details) - USD ($)
$ in Thousands
 2 Months Ended 9 Months Ended
Mar. 01, 2022
Feb. 09, 2022
Dec. 31, 2021
Nov. 02, 2021
Apr. 02, 2021
Dec. 31, 2021
Dec. 31, 2021
Jun. 30, 2022
Mar. 31, 2022
Mar. 10, 2022
Jan. 11, 2022
Puniska Healthcare Pvt Ltd                      
Business Acquisition [Line Items]                      
Cash $ 1,700   $ 14,162 $ 72,880              
Fair value consideration transferred           $ 87,042          
Kashiv Specialty Pharmaceuticals, LLC                      
Business Acquisition [Line Items]                      
Cash, including working capital payments             $ 74,440        
Cash         $ 100,100            
Deferred consideration, gross fair value         30,100   30,099        
Contingent consideration (milestones)             500        
Contingent consideration (royalties)             5,200        
Settlement of Amneal trade accounts payable due to KSP             (7,117)        
Fair value consideration transferred         104,500   103,122        
Deferred consideration         30,500         $ 500 $ 30,000
Deferred consideration discount         $ 400            
Deferred consideration, discount rate (percent)         1.70%            
Contingent consideration, maximum liability         $ 8,000            
Contingent consideration     $ 5,900   $ 5,700 $ 5,900 $ 5,900   $ 14,896    
Kashiv Specialty Pharmaceuticals, LLC | Forecast                      
Business Acquisition [Line Items]                      
Deferred consideration               $ 30,100      
Saol Baclofen Franchise Acquisition                      
Business Acquisition [Line Items]                      
Cash   $ 84,714                  
Contingent consideration (royalties)   8,796                  
Fair value of consideration transferred   $ 93,510                  
v3.22.1
Acquisitions - Preliminary Purchase Price Allocation for the Acquisitions (Details) - USD ($)
$ in Thousands
 3 Months Ended
Feb. 09, 2022
Mar. 31, 2022
Dec. 31, 2021
Nov. 01, 2021
Apr. 02, 2021
Dec. 31, 2020
Business Acquisition [Line Items]            
Goodwill   $ 602,893 $ 593,017     $ 522,814
Puniska Healthcare Pvt Ltd            
Business Acquisition [Line Items]            
Cash       $ 165    
Trade accounts receivable, net       232    
Inventories       1,092    
Prepaid expenses and other current assets       4,473    
Property, plant and equipment       53,423    
Goodwill       30,091    
Operating lease right-of-use assets       234    
Other assets       1,303    
Total assets acquired       91,013    
Accounts payable and accrued expenses       1,732    
Operating lease liability       234    
Other long-term liabilities       263    
Total liabilities assumed       2,229    
Non-controlling interests       1,742    
Fair value of consideration transferred       $ 87,042    
Kashiv Specialty Pharmaceuticals, LLC            
Business Acquisition [Line Items]            
Cash         $ 112  
Restricted cash         500  
Prepaid expenses and other current assets         381  
Property, plant and equipment         5,375  
Goodwill         43,530  
Intangible assets         56,400  
Operating lease right-of-use assets         9,367  
Total assets acquired         115,665  
Accounts payable and accrued expenses         1,239  
Operating lease liability         9,177  
Related party payable         127  
Total liabilities assumed         10,543  
Non-controlling interests         2,000  
Fair value of consideration transferred         $ 103,122  
Saol Baclofen Franchise Acquisition            
Asset Acquisition [Line Items]            
Inventory $ 2,162          
Prepaid expenses and other current assets 98          
Goodwill 7,553          
Intangible assets 83,815 $ 83,800        
Total assets acquired 93,628          
Accounts payable and accrued expenses 118          
Fair value of consideration transferred $ 93,510          
v3.22.1
Acquisitions - Acquired Intangible Assets (Details) - Marketed product rights
$ in Thousands
Apr. 02, 2021
USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]  
Fair Value $ 83,815
Weighted-Average Useful Life (in years) 11 years 7 months 6 days
Kashiv Specialty Pharmaceuticals, LLC  
Acquired Finite-Lived Intangible Assets [Line Items]  
Fair Value $ 29,400
Weighted-Average Useful Life (in years) 5 years 10 months 24 days
v3.22.1
Revenue Recognition - Concentration of Revenue (Details) - Revenue from Contract with Customer Benchmark - Customer Concentration Risk
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Customer A    
Concentration Risk [Line Items]    
Concentration risk (percent) 19.00% 20.00%
Customer B    
Concentration Risk [Line Items]    
Concentration risk (percent) 18.00% 19.00%
Customer C    
Concentration Risk [Line Items]    
Concentration risk (percent) 23.00% 26.00%
v3.22.1
Revenue Recognition - Schedule of Disaggregated Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Disaggregation of Revenue [Line Items]    
Net revenue $ 497,633 $ 493,105
Generics    
Disaggregation of Revenue [Line Items]    
Net revenue 317,747 312,508
Specialty    
Disaggregation of Revenue [Line Items]    
Net revenue 85,086 95,931
AvKARE    
Disaggregation of Revenue [Line Items]    
Net revenue 94,800 84,666
International and other | Generics    
Disaggregation of Revenue [Line Items]    
Net revenue 422 399
Anti-Infective | US | Generics    
Disaggregation of Revenue [Line Items]    
Net revenue 6,245 5,913
Hormonal/ Allergy | US | Generics    
Disaggregation of Revenue [Line Items]    
Net revenue 96,368 106,703
Hormonal/ Allergy | US | Specialty    
Disaggregation of Revenue [Line Items]    
Net revenue 19,419 16,796
Antiviral | US | Generics    
Disaggregation of Revenue [Line Items]    
Net revenue 10,571 (7,941)
Central Nervous System | US | Generics    
Disaggregation of Revenue [Line Items]    
Net revenue 81,125 96,291
Central Nervous System | US | Specialty    
Disaggregation of Revenue [Line Items]    
Net revenue 58,168 67,711
Cardiovascular System | US | Generics    
Disaggregation of Revenue [Line Items]    
Net revenue 23,453 35,311
Gastroenterology | US | Generics    
Disaggregation of Revenue [Line Items]    
Net revenue 16,620 19,458
Gastroenterology | US | Specialty    
Disaggregation of Revenue [Line Items]    
Net revenue 70 0
Oncology | US | Generics    
Disaggregation of Revenue [Line Items]    
Net revenue 17,208 19,030
Metabolic Disease/Endocrine | US | Generics    
Disaggregation of Revenue [Line Items]    
Net revenue 11,233 6,557
Respiratory | US | Generics    
Disaggregation of Revenue [Line Items]    
Net revenue 5,665 8,178
Dermatology | US | Generics    
Disaggregation of Revenue [Line Items]    
Net revenue 13,477 12,878
Other therapeutic classes | US | Generics    
Disaggregation of Revenue [Line Items]    
Net revenue 35,360 9,731
Other therapeutic classes | US | Specialty    
Disaggregation of Revenue [Line Items]    
Net revenue 7,429 11,424
Distribution | US | AvKARE    
Disaggregation of Revenue [Line Items]    
Net revenue 60,263 45,499
Government Label | US | AvKARE    
Disaggregation of Revenue [Line Items]    
Net revenue 24,459 31,072
Institutional | US | AvKARE    
Disaggregation of Revenue [Line Items]    
Net revenue 6,315 5,179
Other | US | AvKARE    
Disaggregation of Revenue [Line Items]    
Net revenue $ 3,763 $ 2,916
v3.22.1
Revenue Recognition - Schedule of Major Categories of Sales-Related Deductions (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
USD ($)
Contract Charge - Backs and Sales Volume Allowances  
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]  
Balance, beginning of period $ 503,902
Provision related to sales recorded in the period 728,830
Credits/payments issued during the period (861,717)
Balance, end of period 371,015
Cash Discount Allowances  
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]  
Balance, beginning of period 23,642
Provision related to sales recorded in the period 24,852
Credits/payments issued during the period (25,920)
Balance, end of period 22,574
Accrued Returns Allowance  
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]  
Balance, beginning of period 161,978
Provision related to sales recorded in the period 19,207
Credits/payments issued during the period (25,629)
Balance, end of period 155,556
Accrued Medicaid and Commercial Rebates  
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]  
Balance, beginning of period 85,737
Provision related to sales recorded in the period 18,452
Credits/payments issued during the period (35,313)
Balance, end of period $ 68,876
v3.22.1
Alliance and Collaboration - Additional Information (Details) - USD ($)
 3 Months Ended
May 07, 2018
Jun. 30, 2022
Mar. 31, 2022
Mar. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]        
Research and development     $ 52,798,000 $ 48,182,000
Biosimilar Licensing and Supply Agreement        
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]        
Collaborative arrangement maximum contingent payments amount $ 78,000,000      
Research and development     $ 0 $ 2,000,000
Biosimilar Licensing and Supply Agreement | Forecast        
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]        
Collaborative arrangement maximum milestone payment   $ 10,000,000    
v3.22.1
(Loss) Earnings per Share - Computation of Basic and Diluted Earnings (Loss) per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Numerator:    
Net (loss) income attributable to Amneal Pharmaceuticals, Inc. $ (2,156) $ 6,706
Denominator:    
Weighted-average shares outstanding - basic (in shares) 149,892 148,013
Effect of dilutive securities:    
Weighted-average shares outstanding - diluted (in shares) 149,892 151,220
Net (loss) earnings per share attributable to Amneal Pharmaceuticals, Inc.'s class A common stockholders:    
Basic (in dollars per share) $ (0.01) $ 0.05
Diluted (in dollars per share) $ (0.01) $ 0.04
Stock options    
Effect of dilutive securities:    
Effect of dilutive securities (in shares) 0 792
Restricted stock units    
Effect of dilutive securities:    
Effect of dilutive securities (in shares) 0 2,415
v3.22.1
(Loss) Earnings per Share - Securities Excluded from Diluted Earnings per Share Computation (Details) - shares
shares in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Class B Common Stock    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Potentially dilutive securities excluded from earnings per share (in shares) 152,117 152,117
Stock options    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Potentially dilutive securities excluded from earnings per share (in shares) 3,035 347
Restricted stock units    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Potentially dilutive securities excluded from earnings per share (in shares) 11,430 0
Performance stock units    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Potentially dilutive securities excluded from earnings per share (in shares) 7,947 5,124
v3.22.1
Income Taxes - Additional Information (Details) - USD ($)
$ in Thousands
 1 Months Ended 3 Months Ended
May 07, 2021
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Income Tax Disclosure [Abstract]        
Income tax expense (benefit)   $ (3,461) $ 359  
Effective tax rate (percent)   34.90% 2.40%  
Valuation allowance       $ 416,600
Percentage of tax receivable agreement paid to other holders of Amneal common units (percent) 85.00% 85.00%    
Liabilities under tax receivable agreement   $ 206,300   $ 206,300
v3.22.1
Trade Accounts Receivable, Net - Schedule of Trade Accounts Receivable, Net (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Receivables [Abstract]    
Gross accounts receivable $ 933,577 $ 1,191,792
Allowance for credit losses (1,679) (1,665)
Contract charge-backs and sales volume allowances (371,015) (503,902)
Cash discount allowances (22,574) (23,642)
Subtotal (395,268) (529,209)
Trade accounts receivable, net $ 538,309 $ 662,583
v3.22.1
Trade Accounts Receivable, Net - Concentration of Receivables (Details) - Customer Concentration Risk - Accounts Receivable
 3 Months Ended 6 Months Ended
Mar. 31, 2022
Jun. 30, 2021
Customer A    
Concentration Risk [Line Items]    
Concentration risk (percent) 31.00% 37.00%
Customer B    
Concentration Risk [Line Items]    
Concentration risk (percent) 21.00% 24.00%
Customer C    
Concentration Risk [Line Items]    
Concentration risk (percent) 31.00% 25.00%
v3.22.1
Inventories - Components of Inventories, Net of Reserves (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Inventory Disclosure [Abstract]    
Raw materials $ 212,849 $ 214,508
Work in process 64,519 47,802
Finished goods 234,873 227,079
Total inventories $ 512,241 $ 489,389
v3.22.1
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Apr. 02, 2021
Assets and Liabilities      
Interest rate swap asset/liability $ 42,151 $ 11,473  
Deferred compensation plan liabilities 12,817 13,883  
Contingent consideration liability 14,896 5,900  
Kashiv Specialty Pharmaceuticals, LLC      
Assets and Liabilities      
Contingent consideration liability 6,100 5,900  
Contingent consideration, maximum liability     $ 8,000
Saol Baclofen Franchise Acquisition      
Assets and Liabilities      
Contingent consideration liability 8,800    
Quoted Prices in Active Markets (Level 1)      
Assets and Liabilities      
Interest rate swap asset/liability 0 0  
Deferred compensation plan liabilities 0 0  
Contingent consideration liability 0 0  
Significant Other Observable Inputs (Level 2)      
Assets and Liabilities      
Interest rate swap asset/liability 42,151 11,473  
Deferred compensation plan liabilities 12,817 13,883  
Contingent consideration liability 0 0  
Significant Unobservable Inputs (Level 3)      
Assets and Liabilities      
Interest rate swap asset/liability 0 0  
Deferred compensation plan liabilities 0 0  
Contingent consideration liability $ 14,896 $ 5,900  
v3.22.1
Fair Value Measurements - Additional Information (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Apr. 02, 2021
Term Loan | Significant Other Observable Inputs (Level 2)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Long-term debt fair value $ 2,600.0 $ 2,600.0  
Term Loan | Significant Other Observable Inputs (Level 2) | Rondo Partners L L C      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Long-term debt fair value 136.7 139.0  
Sellers Notes | Significant Other Observable Inputs (Level 2)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Long term debt $ 38.3 $ 38.0  
Kashiv Specialty Pharmaceuticals, LLC      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Contingent consideration, maximum liability     $ 8.0
v3.22.1
Fair Value Measurements - Reconciliation of Contingent Consideration Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Details) - Kashiv Specialty Pharmaceuticals, LLC - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Jun. 30, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning of period $ 5,900  
Addition due to the Saol Acquisition 8,796  
Change in fair value during the period 200 $ 200
Balance, end of period $ 14,896  
v3.22.1
Fair Value Measurements - Significant Inputs Used in Fair Value Measurements (Details)
$ in Thousands
Mar. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value $ 14,896 $ 5,900
Regulatory Milestones    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 500  
Royalties    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value 5,600  
Royalties Saol Acquisition    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair value $ 8,796  
Minimum | Discount rate | Regulatory Milestones    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.043  
Minimum | Discount rate | Royalties    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.115  
Minimum | Discount rate | Royalties Saol Acquisition    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.169  
Minimum | Probability of payment | Regulatory Milestones    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.018  
Minimum | Probability of payment | Royalties    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.018  
Maximum | Discount rate | Regulatory Milestones    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.060  
Maximum | Discount rate | Royalties    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.115  
Maximum | Discount rate | Royalties Saol Acquisition    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.169  
Maximum | Probability of payment | Regulatory Milestones    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.200  
Maximum | Probability of payment | Royalties    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.200  
Weighted Average | Discount rate | Regulatory Milestones    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.045  
Weighted Average | Discount rate | Royalties    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.115  
Weighted Average | Discount rate | Royalties Saol Acquisition    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.169  
Weighted Average | Probability of payment | Regulatory Milestones    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.167  
Weighted Average | Probability of payment | Royalties    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.180  
v3.22.1
Financial Instruments - Additional Information (Details) - USD ($)
Mar. 31, 2022
Oct. 31, 2019
Derivative [Line Items]    
Net of income taxes, recognized in accumulated other comprehensive loss $ (42,200,000)  
Accumulated Other Comprehensive Loss    
Derivative [Line Items]    
Net of income taxes, recognized in accumulated other comprehensive loss (20,800,000)  
Non- Controlling Interests    
Derivative [Line Items]    
Net of income taxes, recognized in accumulated other comprehensive loss $ (21,400,000)  
Interest Rate Lock Agreement    
Derivative [Line Items]    
Notional amount   $ 1,300,000,000
v3.22.1
Financial Instruments - Summary of Fair Values of Derivative Instruments in Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Derivative [Line Items]    
Fair Value $ 42,151 $ 11,473
Variable to Fixed Interest Rate Swap | Designated as Hedging Instrument | Other long-term liabilities    
Derivative [Line Items]    
Fair Value $ 42,151 $ 11,473
v3.22.1
Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Goodwill [Roll Forward]    
Balance, beginning of period $ 593,017 $ 522,814
Goodwill acquired during the period 7,553 70,584
Adjustment during the period for Puniska Acquisition 3,075 0
Currency translation (752) (381)
Balance, end of period $ 602,893 $ 593,017
v3.22.1
Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Feb. 09, 2022
Mar. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Goodwill [Line Items]        
Goodwill   $ 602,893 $ 593,017 $ 522,814
Saol Baclofen Franchise Acquisition        
Goodwill [Line Items]        
Intangible assets $ 83,815 83,800    
Specialty        
Goodwill [Line Items]        
Goodwill   366,300 363,900  
Generics        
Goodwill [Line Items]        
Goodwill   167,100 159,600  
AvKARE        
Goodwill [Line Items]        
Goodwill   $ 69,500 $ 69,500  
v3.22.1
Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]    
Cost $ 1,339,174 $ 1,256,412
Accumulated Amortization (534,781) (494,915)
Net 804,393 761,497
In-process research and development 405,425 405,425
Intangible assets, cost 1,744,599 1,661,837
Intangible assets, net 1,209,818 1,166,922
In-process research and development    
Finite-Lived Intangible Assets [Line Items]    
Accumulated Amortization $ 0 0
Product rights    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Amortization Period (in years) 8 years 3 months 18 days  
Cost $ 1,205,374 1,122,612
Accumulated Amortization (471,785) (436,902)
Net $ 733,589 685,710
Other intangible assets    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Amortization Period (in years) 4 years 8 months 12 days  
Cost $ 133,800 133,800
Accumulated Amortization (62,996) (58,013)
Net $ 70,804 $ 75,787
v3.22.1
Goodwill and Other Intangible Assets - Amortization Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]    
Amortization $ 40,919 $ 41,672
v3.22.1
Goodwill and Other Intangible Assets - Future Amortization Expense (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]    
Remainder of 2022 $ 126,846  
2023 156,567  
2024 148,179  
2025 110,773  
2026 64,159  
Thereafter 197,869  
Net $ 804,393 $ 761,497
v3.22.1
Commitments and Contingencies - Additional Information (Details)
 1 Months Ended 3 Months Ended
Mar. 22, 2022
lawsuit
Oct. 01, 2021
defendant
pharmacy
Dec. 31, 2020
claim
Mar. 13, 2015
medication
Nov. 06, 2014
representative
May 31, 2021
product
Mar. 31, 2022
USD ($)
case
state
claim
complaint
Mar. 31, 2021
USD ($)
Mar. 28, 2022
USD ($)
Dec. 31, 2021
USD ($)
Jun. 30, 2021
USD ($)
Jan. 31, 2021
Jun. 10, 2020
state
Nov. 01, 2019
state
May 10, 2019
state
Apr. 17, 2017
officer
Loss Contingencies [Line Items]                                
Securities class action amount covered by insurance             $ 37,000,000     $ 33,000,000            
Number of pending claims, including third parties | case             914                  
Number of cases | case             115                  
Number of states with cases | state             11                  
Number of lawsuit filed | lawsuit 2                              
Kashiv Biosciences LLC                                
Loss Contingencies [Line Items]                                
Voting interest acquired (percent)                       98.00%        
United States Department of Justice Investigations                                
Loss Contingencies [Line Items]                                
Number of sales representatives | representative         1                      
Number of generic prescription medications | medication       4                        
Generic Digoxin and Doxycycline Antitrust Litigation                                
Loss Contingencies [Line Items]                                
Number of generic prescription medications | product           2                    
Number of states, filed civil lawsuit | state                         46   43  
Loss contingency civil lawsuit filed number of additional states | state                           9    
Fleming v. Impax Laboratories, Inc. et al.                                
Loss Contingencies [Line Items]                                
Securities class action amount covered by insurance                     $ 33,000,000          
Number of former officers alleging violations | officer                               4
Cambridge Retirement System v. Amneal Pharmaceuticals, Inc., et al.                                
Loss Contingencies [Line Items]                                
Insurance recoveries             $ 4,000,000                  
Securities class action amount covered by insurance                 $ 25,000,000              
Ranitidine                                
Loss Contingencies [Line Items]                                
Number of claims dismissed | claim     3       3                  
Number of personal injury short form complaints | complaint             316                  
Ranitidine Pennsylvania Lawsuit                                
Loss Contingencies [Line Items]                                
Number of co-defendants | defendant   25                            
Number of pharmacies | pharmacy   1                            
Galeas v. Amneal Pharmaceuticals, Inc.                                
Loss Contingencies [Line Items]                                
Loss contingency accrual             $ 1,200,000                  
Litigation settlement amount             1,200,000                  
Commercial and Governmental Legal Proceedings and Claims                                
Loss Contingencies [Line Items]                                
Net charge for legal proceedings             2,300,000 $ 0                
Insurance recoveries             4,000,000                  
Liability related to legal proceedings             $ 59,700,000     $ 58,000,000            
v3.22.1
Segment Information - Additional Information (Details)
 3 Months Ended
Mar. 31, 2022
segment
Segment Reporting [Abstract]  
Number of reportable segments 3
v3.22.1
Segment Information - Schedules of Segment Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Segment Reporting Information [Line Items]    
Net revenue $ 497,633 $ 493,105
Cost of goods sold 323,062 301,543
Gross profit 174,571 191,562
Selling, general and administrative 98,665 90,726
Research and development 52,798 48,182
Intellectual property legal development expenses (credit) 764 3,582
Acquisition, transaction-related and integration expenses 434 2,802
Charges related to legal matters, net (2,326) 0
Restructuring and other charges 731 363
Change in fair value of contingent consideration 200 0
Operating income 23,305 45,907
Generics    
Segment Reporting Information [Line Items]    
Net revenue 317,747 312,508
AvKARE    
Segment Reporting Information [Line Items]    
Net revenue 94,800 84,666
Operating Segments | Generics    
Segment Reporting Information [Line Items]    
Net revenue 317,747 312,508
Cost of goods sold 199,030 185,298
Gross profit 118,717 127,210
Selling, general and administrative 27,593 18,762
Research and development 43,221 36,117
Intellectual property legal development expenses (credit) 772 3,582
Acquisition, transaction-related and integration expenses 0 0
Charges related to legal matters, net 1,674  
Restructuring and other charges 206 80
Change in fair value of contingent consideration 0  
Operating income 45,251 68,669
Operating Segments | Specialty    
Segment Reporting Information [Line Items]    
Net revenue 85,086 95,931
Cost of goods sold 43,853 48,198
Gross profit 41,233 47,733
Selling, general and administrative 24,400 19,881
Research and development 9,577 12,065
Intellectual property legal development expenses (credit) (8) 0
Acquisition, transaction-related and integration expenses 0 0
Charges related to legal matters, net 0  
Restructuring and other charges 0
Change in fair value of contingent consideration 200  
Operating income 7,064 15,787
Operating Segments | AvKARE    
Segment Reporting Information [Line Items]    
Net revenue 94,800 84,666
Cost of goods sold 80,179 68,047
Gross profit 14,621 16,619
Selling, general and administrative 13,410 13,704
Research and development 0 0
Intellectual property legal development expenses (credit) 0 0
Acquisition, transaction-related and integration expenses 0 931
Charges related to legal matters, net 0  
Restructuring and other charges 0 0
Change in fair value of contingent consideration 0  
Operating income 1,211 1,984
Corporate and Other    
Segment Reporting Information [Line Items]    
Net revenue 0 0
Cost of goods sold 0 0
Gross profit 0 0
Selling, general and administrative 33,262 38,379
Research and development 0 0
Intellectual property legal development expenses (credit) 0 0
Acquisition, transaction-related and integration expenses 434 1,871
Charges related to legal matters, net (4,000)  
Restructuring and other charges 525 283
Change in fair value of contingent consideration 0  
Operating income $ (30,221) $ (40,533)
v3.22.1
Related Party Transactions - Related Party Agreements (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 10, 2022
Jan. 11, 2022
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Related Party Transaction [Line Items]          
Expenses from transactions with related party     $ 0 $ 0  
Related party payables - short term     15,960   $ 47,861
Related party receivables - short term     1,175   1,179
Related party payables - long term     10,371   9,619
Kashiv Specialty Pharmaceuticals, LLC          
Related Party Transaction [Line Items]          
Acquisition, purchase price $ 500 $ 30,000 30,500    
Kashiv Biosciences LLC          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     5,042 7,810  
Related party payables - short term     5,050   314
R&D Reimbursement          
Related Party Transaction [Line Items]          
Income from related parties     (15) (257)  
Inventory and Cost of Goods Sold - Kanan, LLC          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     526 526  
Inventory and Cost of Goods Sold - Sutaria Family Realty, LLC          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     296 287  
Inventory and Cost of Goods Sold - Apace KY, LLC d/b/a Apace Packaging LLC          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     458 2,101  
Inventory and Cost of Goods Sold - AzaTech Pharma LLC          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     1,221 1,143  
Regulatory Approval | Kashiv Biosciences LLC          
Related Party Transaction [Line Items]          
Related party payables - long term     5,000    
Selling, General and Administrative - Tracy Properties LLC          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     135 131  
Selling, General and Administrative - AvPROP, LLC          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     40 39  
Related Party | Kashiv Biosciences LLC          
Related Party Transaction [Line Items]          
Related party payables - short term     500   30,500
Related party receivables - short term     21   14
Related party payables - long term     6,100   5,900
Related Party | LAX Hotel, LLC          
Related Party Transaction [Line Items]          
Financing lease     0 362  
Interest component of financing lease     0 217  
Financing lease cost and interest expense     0 579  
Related Party | Avtar Investments LLC - consulting services          
Related Party Transaction [Line Items]          
Related party payables - short term     59   37
Related Party | Cost of Goods Sold - Parking Space Lease | Kashiv Biosciences LLC          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     25 25  
Related Party | Research and Development - Development and Commercialization Agreements - Various1 | Kashiv Biosciences LLC          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     0 32  
Related Party | Research and Development - Development and Commercialization Agreements - Various2 | Kashiv Biosciences LLC          
Related Party Transaction [Line Items]          
Income from related parties     0 (109)  
Related Party | Research and Development - K127 Development and Commercialization Agreement | Kashiv Biosciences LLC          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     0 3,000  
Related Party | Research and Development - Development and Commercialization Agreement - Ganirelix Acetate and Centrorelix Acetate | Kashiv Biosciences LLC          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     17 643  
Related Party | Sales Milestone Expenses | Avtar Investments LLC - consulting services          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     84 0  
Related Party | Selling, General and Administrative - Development and Commercialization Agreement | Kashiv Biosciences LLC          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     5,000 0  
Related Party | Selling, General and Administrative - Transition Services | Kashiv Biosciences LLC          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     0 300  
Related Party | Cost of Good Sold - Profit Sharing | Kashiv Biosciences LLC          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     0 2,680  
Related Party | Inventory and Cost of Goods Sold - Commercial Product Support | Kashiv Biosciences LLC          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     0 1,239  
Puniska Healthcare Pvt Ltd          
Related Party Transaction [Line Items]          
Related party payables - short term     0   14,225
Apace Packaging, LLC - packaging agreement          
Related Party Transaction [Line Items]          
Related party payables - short term     1,148   560
Related party receivables - short term     6   16
AzaTech Pharma LLC - supply agreement          
Related Party Transaction [Line Items]          
Related party payables - short term     919   1,783
PharmaSophia, LLC - research and development agreement          
Related Party Transaction [Line Items]          
Related party receivables - short term     1,096   1,081
Rondo Partners L L C          
Related Party Transaction [Line Items]          
Related party payables - short term     442   442
Related party receivables - short term     52   68
Related party payables - long term     4,271   3,719
Amneal non-controlling interests - tax distributions (5)          
Related Party Transaction [Line Items]          
Related party payables - short term     6,460   0
Rondo Class B unit holders - tax distributions (5)          
Related Party Transaction [Line Items]          
Related party payables - short term     1,375   0
R&S Solutions          
Related Party Transaction [Line Items]          
Related party payables - short term     7   $ 0
Tarsadia Investments, LLC | Sales Milestone Expenses          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     0 0  
TPG Operations, LLC | Sales Milestone Expenses          
Related Party Transaction [Line Items]          
Expenses from transactions with related party     $ 19 $ 0  
v3.22.1
Related Party Transactions - Narrative (Details) - Puniska Healthcare Pvt Ltd - USD ($)
$ in Thousands
Mar. 01, 2022
Dec. 31, 2021
Nov. 02, 2021
Mar. 31, 2022
Related Party Transaction [Line Items]        
Consideration paid in cash on hand $ 1,700 $ 14,162 $ 72,880  
Voting interest acquired (percent) 26.00%   74.00% 26.00%
v3.22.1
Stockholders' Equity and Redeemable Non-Controlling Interests - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2020
Mar. 31, 2022
Mar. 31, 2021
Mar. 01, 2022
Nov. 02, 2021
Apr. 02, 2021
Class of Stock [Line Items]            
Tax distribution   $ 4.4 $ 9.2      
Kashiv Specialty Pharmaceuticals, LLC            
Class of Stock [Line Items]            
Voting interest acquired (percent)           98.00%
Kashiv Specialty Pharmaceuticals, LLC | Sellers of KSP            
Class of Stock [Line Items]            
Ownership percentage by noncontrolling owners (percent)           2.00%
Av Kare Incorporation And R And S Northeast L L C            
Class of Stock [Line Items]            
Voting interest acquired (percent) 65.10%          
Liabilities incurred, fair value $ 11.0          
Tax distribution recorded as a reduction to redeemable non-controlling interest   $ (2.0) $ 0.5      
Av Kare Incorporation And R And S Northeast L L C | Rondo Partners L L C            
Class of Stock [Line Items]            
Ownership percentage by noncontrolling owners (percent) 34.90% 34.90%        
Puniska Healthcare Pvt Ltd            
Class of Stock [Line Items]            
Voting interest acquired (percent)   26.00%   26.00% 74.00%  
Increase in redeemable non-controlling interest to redemption value   $ 0.9        
v3.22.1
Stockholders' Equity and Redeemable Non-Controlling Interests - Schedule of Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Stockholders' equity beginning balance $ 366,973 $ 344,932
Other comprehensive loss before reclassification 24,590 16,717
Reallocation of ownership interests (112) (226)
Stockholders' equity ending balance 407,407 366,973
Foreign currency translation adjustment    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Stockholders' equity beginning balance (18,845) (14,497)
Other comprehensive loss before reclassification (2,024) (4,255)
Reallocation of ownership interests (86) (93)
Stockholders' equity ending balance (20,955) (18,845)
Unrealized (loss) gain on cash flow hedge, net of tax    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Stockholders' equity beginning balance (5,982) (26,821)
Other comprehensive loss before reclassification 26,614 20,972
Reallocation of ownership interests (26) (133)
Stockholders' equity ending balance 20,606 (5,982)
Accumulated Other Comprehensive Loss    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Stockholders' equity beginning balance (24,827) (41,318)
Stockholders' equity ending balance $ (349) $ (24,827)
v3.22.1
Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Deposits and advances $ 1,595 $ 1,174
Prepaid insurance 4,841 7,962
Prepaid regulatory fees 2,539 3,710
Income and other tax receivables 10,466 8,850
Prepaid taxes 18,255 16,085
Other current receivables 47,213 42,770
Other prepaid assets 23,562 17,309
Chargebacks receivable 12,937 12,358
Total prepaid expenses and other current assets 121,408 110,218
Securities class action amount covered by insurance $ 37,000 $ 33,000
v3.22.1
Other Assets - Schedule of Other Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Other Assets [Line Items]    
Other assets $ 63,943 $ 20,614
Interest rate swap    
Other Assets [Line Items]    
Other assets 42,151 0
Security deposits    
Other Assets [Line Items]    
Other assets 4,245 3,895
Long-term prepaid expenses    
Other Assets [Line Items]    
Other assets 6,886 5,896
Deferred revolving credit facility costs    
Other Assets [Line Items]    
Other assets 1,345 1,603
Other long term assets    
Other Assets [Line Items]    
Other assets $ 9,316 $ 9,220
v3.22.1
Government Grants - Additional Information (Details)
$ in Millions, ₨ in Billions
 1 Months Ended
Nov. 30, 2021
INR (₨)
company
Nov. 30, 2021
USD ($)
company
Receivables [Abstract]    
Number of companies 55 55
Grants receivable ₨ 10 $ 132.3
Government grant eligible term 6 years