Endo International plc - ENDP STOCK NEWS

Endo International plc (OTC: ENDPQ) announced on April 3, 2023, that its subsidiary Par Pharmaceutical has begun shipping the authorized generic (AG) version of Merck's Noxafil® (posaconazole) 200 mg/5 mL oral suspension in the U.S. This product aims to enhance patient access to affordable treatment options. The launch is part of an exclusive supply agreement with Merck, which also included a similar version of Noxafil® delayed-release tablets introduced in 2019. Scott Sims, Senior VP at Endo, emphasized the company’s reputation as a top supplier in the industry.

Endo International plc (NASDAQ: ENDP) announced a restructuring support agreement with senior secured debtholders, aimed at reducing its debt by approximately $6 billion. The transaction involves a $550 million trust for opioid claimants and will allow Endo to continue operations during Chapter 11 proceedings. The company commits to keeping all employees and establishing a stronger financial foundation to facilitate future growth and address ongoing litigation. This move is expected to significantly alleviate Endo's burden of over $8 billion in debt.

SK Biopharmaceuticals announced that Health Canada has accepted Paladin Labs' New Drug Submission for cenobamate, aimed at managing partial-onset seizures in adults. Approval would allow for the drug's launch in Canada. Additionally, cenobamate's application has been accepted in Israel. SK Biopharmaceuticals will receive milestone payments as part of its agreement with Endo International plc's subsidiary, Endo Ventures, which includes commercialization in Canada. Cenobamate is already approved in the U.S. and E.U. for treating seizures.

Endo International plc (NASDAQ: ENDP) reported a 20% decline in total revenues for Q2 2022, totaling $569 million compared to $713 million in Q2 2021. The company faced a reported loss from continuing operations of $1.88 billion, resulting in a diluted loss per share of $8.00. Key factors included decreased revenues from the Sterile Injectables segment, which plummeted by 58%, and increased asset impairment charges. Additionally, the company is in negotiations for a pre-arranged Chapter 11 bankruptcy filing, indicating significant financial distress.

The Buxton Helmsley Group, Inc. (BHG), an investment advisor, has issued an open letter to the board of directors of Endo International Plc (NASDAQ: ENDP) and its financial auditor, PricewaterhouseCoopers LLP, concerning financial disclosures. This letter follows prior correspondence between BHG and Endo, emphasizing the need for transparency in financial reporting.

For more information, the full letter and previous communications are accessible at www.exposingendo.com.

Endo International plc (NASDAQ: ENDP) announced a collaboration with Quoin Pharmaceuticals Inc. (NASDAQ: QNRX) to develop and commercialize QRX003 for treating Netherton syndrome in Canada. This skin disorder, caused by a mutation in the SPINK5 gene, currently lacks effective treatment options. If approved, Paladin Labs, a subsidiary of Endo, will manage all commercial activities in Canada, aiming for a product launch in 2025. This partnership underscores Endo's focus on addressing unmet medical needs in rare diseases.

Endo International (NASDAQ: ENDP) announced a favorable jury verdict in an antitrust trial related to the 2010 patent settlement with Impax Laboratories. The trial, held in Chicago, concluded with the jury ruling in favor of Endo on all counts, affirming that the settlement was procompetitive. This verdict allows Impax to market its generic version of Opana® ER earlier than anticipated, potentially impacting Endo's market dynamics. The case has been ongoing since 2014, with multiple plaintiffs alleging violations of antitrust laws.

Endo International (NASDAQ: ENDP) has published the top-line results from its Phase 2 study evaluating Collagenase Clostridium Histolyticum (CCH) for treating adhesive capsulitis (frozen shoulder). The study involved 198 participants, showing minor improvements in shoulder function after three doses of CCH, but these changes were not statistically significant compared to the placebo group. Endo expressed disappointment with the results and will reassess the future direction for CCH while continuing to pursue its wider pipeline of treatments.

Endo International plc (NASDAQ: ENDP) has announced an agreement with Taiwan Liposome Company (TLC) to commercialize TLC599, a Phase 3 injectable treatment for osteoarthritis knee pain. TLC will lead product development while Endo Ventures Limited will handle regulatory approvals and commercialization. Endo anticipates launching TLC599 in the U.S. by 2025. TLC will receive an upfront payment of $30 million, with potential additional payments of up to $110 million based on milestones. The upfront fee will be categorized as acquired in-process research and development.