Amneal Pharmaceuticals, Inc. (AMRX) Earnings Call Transcript

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All right. Thank you. Good morning, ladies and gentlemen. It is 9:01 a.m., and I would like to officially call to order the 2021 Annual Meeting of Stockholders of Amneal Pharmaceuticals. I'm Paul Meister, the Chairman of the Board, and I will be presiding over this meeting today. We're conducting the Annual Meeting virtually this year in light of the ongoing coronavirus pandemic and to protect the health and safety of our stockholders and employees. The agenda and rules of conduct have been provided on the virtual meeting website and outline how we will proceed with today's meeting. To conduct an informative, orderly and constructive meeting, we ask that participants abide by these rules. As stated in the rules of conduct, if you would like to submit a question, you may do so following the instructions on the meeting website. We ask that you limit yourself to one question or comment and restrict your questions to matters of general interest to our stockholders. Thank you for your cooperation with these rules. Chirag Patel, the company's Co-Founder, Co-Chief Executive Officer, President and Director, is joining us today, as is Stephen Manzano, the company's Senior Vice President, General Counsel and Corporate Secretary. Steve will act as secretary of the meeting. Also joining today's meetings are our inspector of election, Karl Wagner of American Election Services, and Anthony Masherelli and Jamie Molchan of Ernst & Young, the company's independent auditor; and the entire Board of Directors of the company. The first order business before us is a report from the secretary. Mr. Secretary, will you please advise us whether the meeting is duly constituted?

Mr. Chairman, I have an affidavit of distribution from Broadridge Financial Solutions, stating that the notice of this meeting and proxy materials were mailed beginning March 24, 2021, to all stockholders of record as of the close of business on March 12, 2021. We are informed that more than 84% of the shares of Amneal's outstanding common stock entitled to vote at this meeting are present and represented by or represented by proxy. Therefore, we have a quorum present for the conduct of business, and this meeting is duly constituted.

Thank you, Mr. Secretary. The meeting is now open for the purpose of transacting business properly before it. The polls opened at the beginning of the meeting, and we will close the polls on all matters immediately after the presentation of today's proposals. Most of you have already voted by proxy, and your shares will be voted accordingly. You do not need to vote again at this time unless you wish to change your vote. If anyone would like to vote now or revoke his or her prior vote, please follow the instructions on the meeting website before the polls close. I will now present the proposals that our stockholders will be voting on at the meeting. All such proposals are further described in the proxy materials. The first item of business is the election of the 10 individuals listed in our proxy statement to serve as directors until the 2022 Annual Meeting. The second item of business is an advisory nonbinding vote to approve the compensation of our named executive officers. The third item of business is the amendment and restatement of our certificate of incorporation. And the fourth item of business is the ratification of the appointment of Ernst & Young as our independent registered public accounting firm for 2021. The Board of Directors recommends a vote in favor of each Director nominee and in favor of each of the other proposals. We will now pause to address any stockholder questions we have received relating to these proposals.

Mr. Chairman, there are no questions.