Endo's Alabama plant where its Qualitest unit makes generics is recalling a couple of drugs, some for being outsized and off-color.
A couple of years ago, Endo decided to put a bunch of money into its Alabama plant where its Qualitest unit makes generics. But that facility has recently been tripped up by some manufacturing issues and is now recalling a couple of drugs, some for being outsized and off color.
Former Endo sales rep Peggy Ryan first filed a whistleblower suit--concerning off-label marketing of its pain patch, Lidoderm--against the drugmaker in 2005. Nine years later, the company settled with the Department of Justice. And now, Ryan is walking away with a hefty chunk of change.
Endo and Mallinckrodt have both been using M&A to help them head down the specialty pharma path. Both call Ireland home, helping them boast lower tax rates than many of their peers--and giving them a leg up in the dealmaking arena. And both generate the vast majority of their revenue in the U.S. But as Moody's points out, there are some important differences between them, too--and those will help determine their next M&A moves.
The Centers for Disease Control and Prevention says that a formulation of Endo's pain med, Opana ER--that's supposed to be difficult to crush--is responsible for an outbreak of HIV in southern Indiana, because the changes made it easier to prepare the drug for more dangerous intravenous or subcutaneous injection.
Endo hasn't quite wrapped up its $8 billion deal for generics maker Par Pharmaceutical, recently agreeing to a loan package to speed things along. Now, the drugmaker is hoping to move one step closer to the finish line by launching a $1.75 billion stock sale.
Earlier this week, Endo inked a pact to nab Par Pharmaceutical for $8 billion. But to do that, it'll need a loan, and it's agreed to a $9.275 billion loan package to back the acquisition.
Endo is acquiring Par Pharmaceutical for $8 billion. It adds about 100 products from Par, such as generic injectables worth $1.3 billion in 2014 sales.
Endo Pharmaceuticals and BioDelivery Sciences International announced positive results from two Phase III studies of their Belbuca buccal film to manage severe chronic pain by quickly delivering buprenorphine via the inside of the cheek. The candidate uses BDSI's BioErodible MucoAdhesive delivery platform.
After Endo lost Salix earlier this year, analysts didn't think there would be much left for the drugmaker in terms of M&A. But now, the company is snatching up generics maker Par Pharmaceutical for $8 billion, getting its hands on the company's generic drug portfolio to expand its offerings and generate long-term growth.