Endo International plcNASDAQ
Endo: An Underappreciated Platform
Yesterday, 7:30 AM
- Philip van Doorn and team at Marketwatch put together a list of 18 S&P 500 names with consensus sell-side price targets at least 30% above the current price.
- Ten of the 18 stocks are in healthcare, which has been roughed up by a combination of Obamacare, Clinton's talk about drug pricing (back when all thought she would be the next POTUS), and now Trump joining in the bashing.
- The list (in order of possible upside): Mallinckrodt PLC (NYSE:MNK) - 56% potential upside, Endo International PLC (NASDAQ:ENDP) - 52% upside, Hanesbrands (NYSE:HBI) - 45% upside, Edwards Lifesciences (NYSE:EW) - 44% upside, Mylan (NASDAQ:MYL) - 42% upside, Allergan (NYSE:AGN) - 39% upside, Alexion (NASDAQ:ALXN) - 37% upside, Activision Blizzard (NASDAQ:ATVI) - 35% upside, Salesforce.com (NYSE:CRM) 34% upside, NRG Energy (NYSE:NRG) - 34% upside, Centene (NYSE:CNC) 34% upside, Gilead (NASDAQ:GILD) 33% upside, Facebook (NASDAQ:FB) 32% upside, Boston Scientific (NYSE:BSX) - 32% upside, Pitney owes (NYSE:PBI) - 32% upside, Molson Coors (NYSE:TAP) - 30% upside, Newell Brands (NYSE:NWL) - 30% upside, Zimmer Bioment (NYSE:ZBH) - 30% upside.
Yesterday, 6:56 AM
- BioDelivery Sciences International (NASDAQ:BDSI) is up 9% premarket on light volume in response to its announcement that Endo International (NASDAQ:ENDP) will return global rights to BELBUCA (buprenorphine) buccal film back to BDSI effective January 6, 2017. The product's annual sales run-rate is more than $27M so it will be immediately accretive to revenue and earnings.
- Endo says its remaining portfolio of pain products does not require a field sales force so it is eliminating its 375-person U.S. Branded pain sales organization as well as internal support for the promoted pain business unit. The move will enable it to focus its resources on its core U.S. Branded assets including XIAFLEX (collagenase clostridium histolyticum). It will record a restructuring charge of ~$62M as a result. The initiative is expected to save $90M - 100M in run-rate cost savings next year.
- Endo CEO Paul Campanelli says, "Since we entered into our licensing and development agreement with BDSI in 2012, the opioid market and Endo's strategic priorities have evolved. While we continue to believe BELBUCA is a differentiated asset, the product no longer aligns with Enod's U.S. Branded segment strategy and our focus on core assets, including XIAFLEX, moving forward."
- BDSI will host a conference call this morning at 8:00 am ET to discuss the matter.
Thu, Nov. 17, 9:28 AM
- Endo International (NASDAQ:ENDP) is up 6% premarket on increased volume in response to its announcement of positive results from a Phase 2b clinical trial assessing collagenase clostridium histolyticum (CCH) for the treatment of edematous fibrosclerotic panniculopathy (EFP), commonly known as cellulite.
- The study enrolled 375 adult women with moderate or severe cellulite. Results showed a highly statistically significant improvement in the appearance of cellulite.
- CCH is marketed in the U.S. as XIAFLEX for the treatment of Dupuytren's contracture and Peyronie's disease.
Thu, Nov. 17, 9:20 AM
- Gainers: RLOG +121%. SINO +99%. GSL +94%. DCIX +32%. NMM +32%. ESEA +24%. TOPS +22%. WNR +22%. NM +22%. NAO +19%. SB +18%. ANW +17%. PANL +16%. SHIP +12%. NTAP +12%. HAIN +11%. GLBS +11%. UAM +11%. GURE +10%. PLCE +8%. NNA 8%. BBY 8%. INCY 6%. RCON 6%. PLUG 6%. GNK 6%. ENDP 6%.
- Losers: LEI -26%. VUZI -18%. SPP -18%. NVTA -14%. FSLR -12%. ZX -10%. TEGP -10%. SSI -9%. STEM -8%. FOXF -8%. TTMI -7%. PFGC -6%.
Thu, Nov. 10, 9:17 AM
- Gainers: TUBE +82%. SODA +18%. AHT +11%. AEG +10%. ZLTQ +10%. NAT +9%. TASR +9%. MTL +9%. SHAK +8%. KSS +8%. EBIO +8%. UBS +8%. PUK +7%. FCEL +8%. ARIA +6%. FCX +6%. RBS +6%. ENDP +6%. BCS +6%. CS +5%.
- Losers: SUNW -31%. ANTH -19%. BVX -14%. NVAX -11%. WUBA -11%. BBD -8%. SEDG -7%. RRR -6%. AZN -6%. VIV -6%. SBS -5%. NGG -5%.
Tue, Nov. 8, 9:17 AM
Tue, Nov. 8, 6:48 AM
- Endo (ENDP) Q3 results: Revenues: $884.3M (+18.6%); Operating Loss: ($36M) (+95.4%); Net Loss: ($191.5M) (+76.2%); Loss Per Share: ($0.86) (+77.6%); Non-GAAP EPS: $1.01 (-1.0%); Quick Assets: $561.6M (+106.2%); CF Ops: $443.4M (-349.9%).
- 2016 Guidance: GAAP EPS: $0.98 - 1.28; Non-GAAP EPS: $4.50 - 4.80.
Tue, Nov. 8, 6:31 AM
Mon, Nov. 7, 5:30 PM
Fri, Nov. 4, 3:38 PM
- The major averages are flat, but the XLV is higher by 1%, and the IBB by 2.15% as pharmaceutical names rebound from yesterday's plunge.
- Sending the stocks down was word of charges about to come from the government following a two-year antitrust probe, but public outrage goes with the territory, says Zacks' Tracey Ryniec, noting the prices - with some at just four or five times earnings - are getting seriously cheap.
- Among those moving today: Endo International (ENDP +1.8%), Perrigo (PRGO +3%), Mylan (MYL +2.6%), Allergan (AGN +3.4%), Cara (CARA +23.8%), PTC (PTCT +20%), Novavax (NVAX +18.9%), Flex (FLKS +14.5%), Cerus (CERS +14.9%), LifePoint (LPNT +2.9%), and Halyard Health (HYH +3.2%).
Fri, Nov. 4, 6:00 AM
- In a note this morning, Credit Suisse addresses what exactly was new in yesterday's Bloomberg article about potential price-fixing charges against generic drugmakers:
- "The investigation itself wasn’t news, most generics manufacturers had disclosed receipt of subpoenas, but we sense most investors felt the investigation wouldn’t come to anything. This afternoon’s news that charges could be brought by year-end obviously brought immediacy to the issue and at a time when investor confidence is fragile. Investors have been concerned the consolidating purchasing consortiums of drug chains and wholesalers (top-4 buying groups now represent 84% of purchasing in the U.S.) have used their buying power at the manufacturers expense. Regardless of the outcome of the investigation, the ongoing government scrutiny could hinder generic manufacturers' counter moves especially in terms of price exploration for individual products. That said, and appreciating the matter can’t be taken lightly, we think it would be premature to conclude this signals a dramatic change in the generic drug industry’s landscape over the long-term. There continue to be regulatory and manufacturing capacity issues which work in the generic manufacturers' favor."
- Among the hardest hit were LCI (-26.6%), ENDP (-19.5%), IPXL -19.5%, AKRX -18%. Healthcare ETF XLV was down just 1%. Large-cap generic manufacturers such as MYL and TEVA were down 6-10%.
Thu, Nov. 3, 2:57 PM
- The DOJ could file charges before the end of the year in its probe over whether companies colluded on drug pricing, according to Bloomberg.
- Among those hit: Mylan (MYL -7.4%), Teva (TEVA -10.6%), and Endo International (ENDP -15.4%).
- Others include Allergan (AGN -4.1%) and Valeant (VRX -6.9%)
- Related ETFs: IBB, XLV, IYH, XBI, VHT, PJP, BBH, HQH, FBT, CURE, HQL, XPH, PBE, FXH, FHLC, IHE, RXL
Thu, Oct. 20, 5:04 PM
- Endo International plc (NASDAQ:ENDP) EVP and Chief Financial Officer Suketu Upadhyay notifies the company that he will resign effective November 22 to assume a senior finance position at another firm. EVP of Global Finance Operations Blaise Coleman will serve as interim CFO until a permanent successor is hired.
Fri, Sep. 30, 9:20 AM
- Endo Pharmaceuticals (ENDP) announces that new data will be presented evaluating the safety and efficacy of XIAFLEX (collagenase clostridium histolyticum) (CCH) injection under investigation for the treatment of palmar Dupuytren's disease nodules. The presentation will be made tomorrow, October 1, at the annual meeting of the American Society for Surgery of the Hand in Austin, TX.
- In a Phase 2, randomized, double-blind, placebo-controlled, dose-ranging study in 75 adults, participants in the higher dose groups treated with a single injection of XIAFLEX showed a statistically significant decrease in size and hardness of Dupuytren's disease nodules, a pre-cursor condition to Dupuytren's contracture. The safety profile of those treated with CCH was generally well tolerated. Adverse events included extremity pain, axillary pain, injection site-related adverse events and pruritus. No patients were discontinued from the study because of an adverse event.
- The majority of study participants receiving higher doses of CCH were satisfied with their treatment and outcomes. Similarly, the investigators' global assessment showed an improvement in study participants versus placebo.
- Dupuytren's disease is a common fibroproliferative disease of the palmar fascia. It is characterized by thickening and shortening of fibrous cords within the hand that impact the finger joints (particularly metacarpophalangeal and proximal interphalangeal joints of the ring and small fingers) and while it can start with the appearance of palmar nodules, often leads to flexion contraction and reduced function, also known as Dupuytren's contracture.
- XIAFLEX is a biologic approved in the U.S., EU, Canada and Australia for the treatment of adult Dupuytren's contracture patients with a palpable cord and approved in the U.S. for the treatment of adult men with Peyronie's disease with a palpable plaque and penile curvature deformity of at least 30 degrees at the start of therapy.
- Shares up 1% premarket on average volume.
Fri, Sep. 23, 12:45 PM
Fri, Sep. 23, 11:01 AM