Amneal Pharmaceuticals seeks tax breaks for $61 million renovation, 70 new jobs at its Brookhaven site

Drug manufacturer Amneal Pharmaceuticals plans to spend about $61.3 million to renovate and equip its North Bellport warehouse with new machinery and is seeking local tax breaks to help it do so.

The Bridgewater, New Jersey-based company applied for 10 years of tax breaks from the Brookhaven Industrial Development Agency on April 2 to support the renovation of part of its building at 50 Horseblock Rd. in North Bellport into a manufacturing facility for new drugs, according to Amneal’s application to the Brookhaven Industrial Development Agency.

Amneal would hire about 70 new employees to staff the new facility by 2028, according to the application.

Amneal has also asked for a sales tax exemption of about $4.4 million on equipment and materials it plans to purchase as part of the upgrade. It expects to complete the new facility in about five years.

The tax breaks and renovation are not a done deal; the Brookhaven IDA must still hold a public hearing to discuss the potential transaction, said IDA CEO Lisa Mulligan. That meeting has not yet been scheduled.

Amneal is looking to expand as the publicly traded company’s revenue and profits have grown. Amneal reported a profit of $72 million last year on revenue of $3.02 billion, after posting a loss of $117 million on revenue of $2.79 billion in 2024, according to its 2025 financial results.

Planned expansion

Amneal plans to relocate roughly 77,000 square feet of warehouse space from the 50 Horseblock Rd. building to its nearby facility at 19 Nicholas Dr., according to the IDA application.

It will use the freed-up space at the Horseblock Road building as manufacturing and research space for its oral, injectable and ophthalmic drugs, according to Peter Curry, an attorney at Farrell Fritz representing the company, who spoke at an IDA meeting on Wednesday.

Amneal, which employs about 782 people in the Town of Brookhaven, also applied to extend existing tax breaks at its Nicholas Drive location by another five years, and for $122,500 in sales tax exemptions to equip part of the building it wants to use as a warehouse, according to an application sent to the Brookhaven IDA in March.

Amneal’s tax breaks on that building are set to expire this year. Under a 2018 agreement with the IDA, Amneal scored a discount on its tax bill, saving $162,212 during the 2024 tax year, according to the Brookhaven IDA's 2024 annual report.

Performance improves

The international drug maker's 2025 profits followed annual losses from 2022 through 2024.

Co-CEOs Chirag and Chintu Patel attributed the financial turnaround to the company’s diverse portfolio and the launch of new products, they said in a February announcement.

Amneal has also invested in popular GLP-1 weight loss drugs through a partnership with Pfizer, Chintu Patel said.

“We are well positioned to participate meaningfully in the long-term GLP-1 market with a scalable and flexible manufacturing platform,” he said during Amneal’s Feb. 27 earnings call.