secwatch.observer — SEC 8-K summary
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Issuer:     Amphastar Pharmaceuticals, Inc. (AMPH)
CIK:        0001297184
Form:       8-K
Filed at:   2023-04-24T23:59:59+00:00
Accession:  0001558370-23-006469
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Amphastar to buy Lilly's BAQSIMI for $500M cash, $125M guarantee, up to $450M milestones
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- Purchase price: $500M cash at closing, $125M guaranteed payment at 1-year anniversary, plus up to $450M in sales-based milestones.
- BAQSIMI is first and only nasally administered glucagon for severe hypoglycemia; 2022 worldwide sales of $139.3M.
- Debt financing: $500M term loan and $150M revolver from Wells Fargo, Capital One, JPMorgan, and others.
- Closing expected Q2/Q3 2023, subject to HSR clearance and customary conditions; not subject to financing condition.
- Amphastar will use debt and cash on hand; Lilly focuses on pipeline while divesting BAQSIMI.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1297184/000155837023006469/0001558370-23-006469-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1297184/000155837023006469/amph-20230421x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-006469

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer