Jason Gerberry
BofA Securities, Research Division

Going here with our next company presenter at the BofA Annual Healthcare Conference. My name is Jason Gerberry. I cover pharma and biotech at BofA, and I'm pleased to be introducing Amphastar Pharmaceuticals. And joining us from Amphastar we have Bill Peters, CFO; and Tony Marrs, Executive Vice President, Clinical and Regulatory. So gentlemen, thanks for joining us.

William Peters
CFO, Executive VP of Finance, Treasurer & Director

Thanks for having us. .

Jason Gerberry
BofA Securities, Research Division

So maybe let's -- where do we start? Coming out of the first -- our first quarter of the year, maybe what's surprised you with the performance of the business relative to the start of the year outlook? And the good and the bad, and then we can kind of dig in from there.

William Peters
CFO, Executive VP of Finance, Treasurer & Director

Yes. So when we take a look at where we thought we'd be at the beginning of the year versus where we end up at the end of the first quarter, I think the biggest surprise was the impact of the double discounting that we had from the 340B programs on BAQSIMI. As we mentioned on our conference call, that's something where people are buying the drug at the mandated lowest price for the 340B hospitals and then still collecting a rebate when they issue it to someone who is -- has insurance coverage.

So they're not really supposed