Amphastar Pharmaceuticals Debuts In IPO

Rancho Cucamonga-based Amphastar Pharmaceuticals, a specialty pharmaceuticals company focused on generic and proprietary injectable and inhalable drugs, priced its IPO Wednesday at $7 per share. The company is selling 8 million shares of its stock. The offering raises $56M for the company, which is now trading on the NASDAQ as AMPH. The company closed up 25 percent in its first day of trading on Wednesday, at $8.75 per share. The IPO was underwritten by Jeffries, BMO Capital Markets, Piper Jaffray & Co., and Needham & Company. The company's investors included Applied Physics & Chemistry Laboratories and Coller Partners.