Its XIAFLEX revenues came in at $111 million versus $34 million in the second quarter of 2020. Also, its revenue is estimated to decrease 4.4% year-over-year to $2.77 billion in 2021.ĮNDP’s total revenue increased 4% year-over-year to $713.83 million in the second quarter, ended June 30, 2021, attributable primarily to an increase in specialty products revenue. The $675.43 million consensus revenue estimate for the next quarter, ending December 31, 2021, indicates an 11.2% decline year-over-year. The United States District Court for the District of Delaware's ruling that Eagle Pharmaceuticals' version of the drug does not infringe on the two Par Pharmaceutical patents has dealt a big blow on ENDP’s best-selling drug. from selling a generic version of the blood pressure drug.
#Endo pharma things to look for trial#
This could drain the company’s cash reserve and put downward pressure on its stock price.Īlso, ENDP lost the trial of VASOSTRICT patent litigation last month in its bid to stop Eagle Pharmaceuticals Inc. The settlement involved a payment of $35 million by the company to be allocated among the plaintiffs. executed a definitive Settlement Agreement to resolve the opioid-related Tennessee State Court case, which involved claims by nine counties in Eastern Tennessee. Last month, ENDP’s wholly owned subsidiaries Endo Health Solutions Inc. Opioid-related Lawsuits and Non-Infringement Ruling Here’s what could influence ENDP’s performance in the coming months: In addition, several lawsuits that ENDP is battling could foster bearish investor sentiment. Although the company’s impressive sequential growth driven by the XIAFLEX pharmaceutical brand in the last reported quarter and advancements in the growth of its product pipeline should bode well for the stock, its operational losses have expanded significantly. The stock is currently trading 80.6% below its 52-week high of $10.89, which it hit on February 18. Shares of ENDP have tumbled 4.8% in price over the past five days and 49.4% over the past month because of its plans to explore a potential financial restructuring.Īs reported by The Wall Street Journal, the company is said to have hired a financial restructuring advisor prompted by a flood of opioid-related lawsuits. Ireland-based specialty pharmaceutical company Endo International plc ( ENDP ) manufactures and sells generic and branded pharmaceuticals in the United States and worldwide. So, although the company remains committed to expanding its product pipeline, can the stock rebound given the company’s recent loss in a patent fight over its bestselling drug? Let’s discuss. In June, the drugmaker missed a $38 million interest payment, amid discussions with a group of unsecured bondholders who had urged the company to avoid filing for bankruptcy.Shares of specialty pharmaceutical company Endo International (ENDP) have plunged in price over the past month owing to news that the drugmaker is evaluating financial restructuring options to deal with several opioid-related lawsuits. state attorneys general to provide $450 million over a period of 10 years, resolving allegations that the company boosted opioid sales using deceptive marketing, and bans the marketing of its opioids forever, according to the office of Massachusetts AG.Ĭreditors will also establish voluntary trusts with $550 million to be funded over 10 years to settle the opioid claims, the company said.Įndo has been discussing the possibility of filing for bankruptcy protection in several recent filings. The company also reached a deal with U.S. The creditors, who will also assume some of the company's liabilities, will substantially control all of its assets, Endo said. The company's Chapter 11 bankruptcy filing in the Southern District of New York showed assets and liabilities in the range of $1 billion to $10 billion. "By definitively addressing the more than $8 billion of debt that has burdened our balance sheet and establishing a pathway to closure with respect to the thousands of opioid-related and other lawsuits that the company has been defending at an unsustainable cost, we will be able to move forward.," Endo's Chief Executive Officer Blaise Coleman said in a statement. Purdue Pharma, the maker of Ox圜ontin, filed in September 2019, while Mallinckrodt Plc, a generic opioid manufacturer, recently emerged from bankruptcy. The pharmaceutical company is the latest to file for Chapter 11 to address opioid claims. drugmaker seeks to settle thousands of lawsuits over its alleged role in the country's opioid epidemic. Aug 16 (Reuters) - Endo International Plc (ENDP.O) filed for bankruptcy on Tuesday after reaching a $6 billion deal with some of its creditors, as the U.S.
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