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Endo Health -6% as loss widens on writedown, legal costs

  • Endo Health Solutions (ENDP -5.9%) shares sink on widening Q4 losses after the drug maker warned of a significant writedown and high litigation expenses earlier this month.
  • Revenue plunged 27% Y/Y, and the company issued a weak FY 2014 outlook, seeing EPS of $3.40-$3.65 vs. $3.93 analyst consensus estimate, and revenues of $2.50B-$2.62B vs. $2.56B consensus.
  • Lidoderm sales plummeted 87% to $36.4M while Opana ER sales dropped 14% to $53.7M: ENDP agreed to pay $193M earlier this month to settle allegations that it marketed Lidoderm for uses not approved by regulatory authorities.
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