Amneal paid $1.1 billion to buy Kashiv BioSciences: $750 million upfront in cash and equity at close, plus up to $350 million tied to pipeline milestones. Kashiv is a private, 15-year-old company, so there’s no public share premium to cite. Amneal’s own shares climbed 5% on the news.
What does Amneal actually get? Twenty-five thousand liters of biosimilar manufacturing capacity across two India facilities, a Chicago fill-finish plant, and a Piscataway, N.J. headquarters, plus 600-plus employees and plans to expand capacity to 75,000 liters by 2028. Kashiv currently sells biosimilars of Amgen’s Neupogen and Neulasta. By 2027, Amneal plans to add biosimilar versions of Roche’s Avastin, Amgen’s Xgeva, and Prolia. By end of 2029, it’s targeting biosimilars for megablockbusters Keytruda and Opdivo.
The rationale is simple math. Co-CEO Chirag Patel cited a global biosimilar market expected to grow from $40 billion today to $200 billion by 2035, driven by the largest biologic loss of exclusivity in history. The company plans to launch three to five new biosimilars per year to capture that growth.
The deal closes in the second half of 2026. Amneal projects 2030 revenue of $4.25 billion to $4.5 billion, up from $3.02 billion in 2025. The Kashiv deal turns accretive in 2027, the year Amneal expects annual sales growth to jump from 1%-4% guidance to 7%-13%.
Diana Kowalski