24/7 Market News Snapshot 07 Aug 2024 – Amneal Pharmaceuticals, Inc. Class A Common Stock (NASDAQ: AMRX)

August 7, 2024 3:58

Press Release

DENVER, Colo., 07 August, 2024 (247marketnews.com) – (NASDAQ:AMRX) are discussed in this article.
Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) experienced a notable surge in trading activity today, with the stock opening at $6.92 and closing at $6.815. The company saw a significant trading volume of 1.2 million shares and a remarkable percentage change of 20.77% from the market open, reflecting strong investor interest and confidence. This bullish momentum underscores positive market sentiment around Amneal, emphasizing its potential for future gains.

Simultaneously, Amneal Pharmaceuticals announced a significant milestone with the U.S. Food and Drug Administration’s (FDA) approval of its innovative treatment, CREXONT® (carbidopa and levodopa) extended-release capsules, for Parkinson’s disease. This advanced formulation combines immediate-release granules and extended-release pellets in a single oral medication, designed to offer rapid onset of action while sustaining therapeutic effects over a longer duration. This results in a considerable increase in “Good On” time and reduces the frequency of daily doses compared to traditional immediate-release treatments.

Set for commercial release in September 2024, CREXONT represents a substantial advancement in Parkinson’s disease management. Clinical trials demonstrated that CREXONT provides an additional 0.5 hours of “Good On” time per day with only three doses required daily, as opposed to the standard five doses with traditional treatments. This improved dosing convenience is poised to enhance the quality of life for the roughly one million people living with Parkinson’s disease in the U.S.

Amneal’s Co-Chief Executive Officers, Chirag and Chintu Patel, highlighted that this approval marks a pivotal moment in the treatment landscape for Parkinson’s disease. They expressed enthusiasm about offering this crucial solution, which promises to alleviate the burden for PD patients by ensuring longer-lasting symptom control with less frequent dosing. Supporting their commitment to innovation in Parkinson’s research, Dr. Robert A. Hauser, a prominent expert in neurology, commended CREXONT for providing more consistent therapeutic effects, thus improving patient outcomes.

Amneal’s pivotal advancements reaffirm its leadership in addressing the needs of Parkinson’s disease patients, signifying a vital step forward in enhancing treatment efficacy and patient convenience.

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