- Endo International plc’s (NASDAQ:ENDP) Q2 sales decreased 20% to $569.11 million, beating the consensus of $529.94 million.
- The decrease was attributable to decreased revenues from the Sterile Injectables segment, partially offset by increased revenues from the Generic Pharmaceuticals segment.
- Sterile Injectables segment revenues fell 58% to $123 million, primarily due to decreased Vasostrict revenues due to lower price and generic competition, channel inventory destocking, and lower overall market volumes as COVID-19-related hospitalizations decline.
- The company remains in constructive negotiations with its creditors, and it expects that these negotiations will likely result in a pre-arranged filing under Chapter 11 Bankruptcy.
- Also Read: Endo Weighing Chapter 11 Filing Before Junior Creditors, Opioid Settlements: Report.
- Generic segment revenues were $203 million, up 22%, attributable to revenues from varenicline tablets.
- Adjusted income from continuing operations fell 96% to $6.5 million.
- Adjusted EPS reached $0.03 compared to $0.62 a year ago.
- Branded pharma segment revenues were $219 million, a decrease of 4%. Specialty Products revenues decreased 2% to $164 million, with Xiaflex increasing 8% to $121 million.
- Price Action: ENDP shares are down 41.39% at $0.39 during the market session on the last check Tuesday.
Gold Gains 1%; CXApp Shares Spike Higher
U.S. stocks traded lower toward the end of trading, with the S&P 500 falling around 0.3% on Monday.
The Dow traded down 0.67% to 39,538.91 while the NASDAQ fell 0.06% to 16,369.44. The S&P 500 also fell, dropping, 0.30% to 5,238.49.
