Industry Update Eagle Pharma.Xlsx

Pharmaceuticals Industry Update July 2021

M&A Activity Trend in Industry EBITDA Multiples1  On June 15, 2021, PharmaSGP GmbH, a subsidiary of PharmaSGP 75th Percentile Median 25th Percentile Holding SE, signed an agreement to acquire a product portfolio with four established OTC brands (Baldriparan, Formigran, Spalt, and Kamol) with the GlaxoSmithKline Group - a leading multinational pharmaceutical 15.0x group. The agreed purchase price of this transaction is roughly EUR 80M. 13.0x  On June 4, 2021, Aurobindo Pharma Limited, a pharmaceutical manufacturing company, agreed to acquire Cold-EEZE Business of Viatris Inc. from Viatris Inc. Viatris, formerly known as Mylan, is also a global 11.0x generic and specialty pharmaceuticals company.

 On April 28, 2021, Pfizer Inc., a multinational pharmaceutical and 9.0x biotechnology corporation, completed the acquisition of Amplyx Pharmaceuticals, Inc., who specializes in the development of therapies for 7.0x debilitating and life-threatening diseases that affect people with compromised immune systems. The acquisition will help to advance its Enterprise ValueLTM / EBITDA expertise in infectious disease and expand its anti-infectives pipeline. 5.0x Apr-17 Apr-18 Apr-19 Apr-20 Apr-21  On April 23, 2021, Super-Pharm, a drug store chain in Israel, completed the acquisition of Remedix Care from Teva Pharmaceuticals. Remedix Trends in Revenue Growth and EBITDA Margins1 Care is a manufacturer of preparation of specialist drugs for the use in hospitals and in patients’ homes. EBITDA Margin Revenue Growth 40.0% 6.0% 38.0% 36.0% LTM EBITDA Margin EBITDALTM 4.0% 34.0% 32.0% 2.0% 30.0% 28.0% 0.0% 26.0%

-2.0% 24.0% 22.0% QuarterlyGrowth LTMin Revenue -4.0% 20.0% Jul-19 Jan-20 Jul-20 Jan-21

Relative Stock Price Returns2 Purchase Price Allocation (PPA) % from Recent Transactions S&P 500 Pharmaceutical Industry 70.0% 40% 60.0%

30% 50.0% 40.0% 20% 30.0% 10% 20.0%

0% 10.0% Apr-18 Oct-18 Apr-19 Oct-19 Apr-20 Oct-20 -10% 0.0% Customer Contigent Tech Brand Goodwill IPR&D -20% Related Consid. Related Related ¹ Calculated using aggregated data for JNJ, PFE, Novartis, MRK, ABBV, AMGN, Novo, GSK, Sanofi, LLY, GILD, BMY % of PP 18.9% 28.2% 22.9% 44.8% 26.4% 28.1% LSE:AZN, AGN, MYL, TEVA, BHC, MNK, PRGO, ENDP, AMRX. ² The Pharmaceutical Industry is a custom, equal-weighted index constructed with the aforementioned companies. Useful Life 15.0 0.0 11.0 14.5 0.0 14.0 Notable M&A Deals On May 11, 2021 Allergan Aesthetics, an AbbVie company, who specializes in developing, manufacturing and markets brand name drugs and medical devices in the areas of medical aesthetics, announced a definitive agreement under which Allergan Aesthetics will acquire Soliton and RESONIC. RESONIC technology is a Rapid Acoustic Pulse device that is a treatment for the short-term improvement in the appearance of cellulite. Allergan will purchase Soliton for $550M ($22.6 per share). On April 16, 2021, Amgen, a multinational biopharmaceutical company, completed the acquisition of Five Prime Therapeutics, a clinical-stage biotechnology company focused on developing immuno-oncology and targeted cancer therapies. Under the transaction, Amgen will acquire Five Prime Therapeutics for $38.00 per share in cash, representing an equity value of approximately $1.9 billion. On April 9, 2021, Sanofi, a multinational pharmaceutical company, completed the acquisition of Tidal Therapeutics, a pre-clinical stage biotech company with a novel mRNA-based approach for in vivo reprogramming of immune cells. Sanofi acquired Tidal Therapeutics for an upfront payment of $160 million and up to $310 million upon achievement of certain milestones.