Amphastar Pharmaceuticals Inc 2025年度报告

For the fiscal year ended December 31, 2025 OR AMPHASTAR PHARMACEUTICALS, INC. (Exact name of registrant as specified in its charter) Securities registered pursuant to Section12(b) of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.Yes☒No☐ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during the preceding12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growthcompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Largeacceleratedfiler☒Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financialaccounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financialreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. Yes☒No☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act).Yes☐No☒ The aggregate market value of the registrant’s common stock held by non-affiliates of the registrant on June 30, 2025 (the last business day of the registrant’s most recentlycompleted second fiscal quarter), based upon the closing price of Common Stock on such date as reported by Nasdaq Global Select Market, was approximately $632,556,518.Shares of common stock known to be held by directors, executive officers and holders of 5% or more of the outstanding common stock of the registrant are not included in thecomputation. No determination has been made that such persons are “affiliates” of the registrant for any other purpose. At February 20, 2026, there were 45,370,171 shares of the registrant’s common stock outstanding. Documents Incorporated by Reference Portions of the registrant’s definitive proxy statement to be filed with the Securities and Exchange Commission within 120 days after the end of its fiscal year to which this reportrelates in connection with its 2026 Annual Meeting of Stockholders are incorporated by reference into PartIII hereof. AMPHASTAR PHARMACEUTICALS, INC.TABLE OF CONTENTS Part I Item 1.BusinessItem 1A.Risk FactorsItem 1B.Unresolved Staff CommentsItem 1C.CybersecurityItem 2.PropertiesItem 3.Legal ProceedingsItem 4.Mine Safety Disclosures 328282848485Part IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities86Item 6.[Reserved]87Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations88Item7A.Quantitative and Qualitative Disclosures about Market Risk98Item 8.Financial Statements and Supplementary Data100Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure145Item9A.Controls and Procedures145Item9B.Other Information147Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections147Part IIIItem10.Directors, Executive Officers and Corporate Governance148Item11.Executive Compensation148Item12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters148Item13.Certain Relationships and Related Transactions, and Director Independence148Item14.Principal Accountant Fees and Services148Part IVItem15.Exhibits and Financial Statement Schedules149Item 16.Form 10-K Summary15215 Signatures3 SPECIAL NOTE ABOUT FORWARD-LOOKING STATEMENTS This Annual Report on Form 1