Updated
The most significant concentration Amneal Pharmaceuticals discloses is Cencora, McKesson, Cardinal Health, CVS Health at 71%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Amneal Pharmaceuticals’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'Our four largest customers, Cencora, Inc., McKesson Drug Co., Cardinal Health, Inc. and CVS Health Corporation, accounted for approximately 71%...of total net sales'”
“10-K Item 1A: 'our significant product families...accounted for 25% of our consolidated net revenue'”
The company's concentration profile is dominated by a high-share customer dependency concentrated in the pharmaceutical wholesale channel, with a moderate product-side exposure layered alongside. The four largest customers — Cencora, Inc., McKesson Drug Co., Cardinal Health, Inc., and CVS Health Corporation — accounted for approximately 71% of total net sales, a high-share dependency that channels the majority of revenues through four buyers whose purchasing decisions, inventory management, and credit health directly govern the company's revenue recognition. The character is a dependency: unlike a structural geographic or product mix, this exposure is sensitive to the business decisions of specific counterparties, any one of which commands meaningful individual leverage. On the product side, significant product families accounted for 25% of consolidated net revenue — a moderate-share structural exposure reflecting the degree to which certain product franchises drive a meaningful but not dominant portion of revenue. Unlike the customer concentration, this exposure is structural in that it reflects the portfolio composition of an established generics business rather than reliance on a single product launch. Together, the two exposures create a profile in which a high-share portion of revenue runs through four counterparties while a moderate slice depends on a small number of product families. The customer concentration is the more idiosyncratic and movable of the two: a reduction in order volumes, a shift in formulary position, or an inventory drawdown at any of the four large buyers could create meaningful near-term revenue variability that the product diversification does not fully offset.
For the engine’s reasoning on AMRX’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ANIP | ANI Pharmaceuticals, Inc. | 2 | 1 | 0 | 3 |
| BHC | Bausch Health Companies Inc. | 2 | 1 | 0 | 3 |
| AMLX | Amylyx Pharmaceuticals, Inc. | 2 | 0 | 0 | 2 |
| AMRX● | Amneal Pharmaceuticals, Inc. | 1 | 1 | 0 | 2 |
| BCRX | BioCryst Pharmaceuticals, Inc. | 0 | 2 | 0 | 2 |
| ALKS | Alkermes plc | 0 | 1 | 1 | 2 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.