Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • R&D 100 Awards

Endo Pharma Sees Earnings Loss After $100 Million Charge

By Pharmaceutical Processing | May 2, 2012

Endo Pharmaceuticals turned a first-quarter loss after absorbing a $110-million pre-tax charge connected to a settlement and license agreement with Impax Laboratories Inc.

Endo, based in Chadds Ford, Pa., said Tuesday it lost $87.3 million, or 75 cents per share, in the three months that ended March 31. That compares to earnings of $55.8 million, or 46 cents per share, in last year’s first quarter. Adjusted earnings, which do not count the charge, came in at 87 cents per share.

Revenue climbed 23 percent to $690.6 million.

Analysts surveyed by FactSet expected, on average, earnings of 87 cents per share on $700.1 million in revenue.

Endo made the Impax payment as part of the settlement of a patent dispute over generic versions of Endo’s pain drug Opana ER.

The company’s revenue jumped due in part to its $2.9-billion purchase of American Medical Systems Inc., which makes devices and treatments for use in urology and gynecology. Endo completed that deal last June.

Sales of Endo’s branded pharmaceuticals fell 3 percent in the first quarter to about $364 million. The company suspended sales of Opana ER and its joint pain treatment Voltaren Gel due to manufacturing problems at a Lincoln, Neb., factory that made the products. It recorded no sales for Voltaren Gel and $81 million in sales for Opana ER, down 4 percent from last year’s quarter.

Endo said it has since returned to a steady supply of both products and expects their sales to return to growth for the remainder of 2012.

Sales for Endo’s Lidoderm pain patch climbed 11 percent to $210 million in the quarter.

The company expects adjusted earnings of between $5 and $5.20 for the year, the same forecast it made in February. Analysts expect, on average, earnings of $5.11 per share.

Shares of Endo Pharmaceuticals Holdings Inc. fell 39 cents to $34.75 in afternoon trading, while the Nasdaq exchange climbed 1 percent.

Related Articles Read More >

FDA logo
Ultra Supplement announces recall for undeclared tadalafil
analyzing medical sample
Expert answers to nitrosamine impurity questions
Cardinal Health
Cardinal Health announces $124M settlement of investors’ opioid suit
FDA logo
FDA warns four companies over selling honey tainted with prescription drugs

DeviceTalks Tuesdays

DeviceTalks Tuesdays

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

Need Pharmaceutical Processing news in a minute?

We Deliver!
Pharmaceutical Processing Enewsletters get you caught up on all the mission critical news you need. Sign up today.
Enews Signup
Pharmaceutical Processing World
  • Subscribe to Our Free E-Newsletter
  • Contact Us
  • About Us
  • Advertise With Us
  • R&D World
  • Drug Delivery Business News
  • Drug Discovery & Development
  • DeviceTalks
  • MassDevice
  • Medical Design & Outsourcing
  • MEDICAL TUBING + EXTRUSION
  • Medical Design Sourcing
  • Medtech100 Index

Copyright © 2022 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • R&D 100 Awards