Endo Health Solutions in talks to sell itself: report
31 Jan 2013
Endo Health Solutions Inc, a US-based diversified healthcare company, is in talks with drugmakers to sell itself, Reuters yesterday reported, citing people familiar with the matter.
The exploratory talks include Warner Chilcott Plc and Valeant Pharmaceuticals International Inc, the report said.
Pennsylvania-based Endo Health has been struggling for some time and early this month issued a disappointing outlook for 2013. It said that it expects to end 2013 with revenues between $2.8 billion - $2.95 billion after having earlier forecasted revenues of $3 billion - $3.2 billion.
Endo Health was created in 1997 through a successful management buyout of Endo Laboratories's generic products along with 12 important brands from DuPont Merck Pharmaceutical Company, a joint ventre between Merck And DuPont.
Its branded segment offers Lidoderm, Opana ER, Opana, Percocet, Voltaren Gel, Frova, Supprelin, Vantas, Valstar, and Fortesta Gel products in pain management, urology, endocrinology, and oncology areas, while its generics division provides non-branded generic products in the pain management, urology, central nervous system disorders, immunosuppression, oncology, women's health, and hypertension markets.
The company has a market cap of $3.6 billion and posted net profit of 187 million on revenues of $1.06 billion.