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Endo Breaks Off Deal To Acquire Somerset And Wintac

Executive Summary

Endo has announced that it will not pursue a previously-announced US$190 million deal to augment its injectables portfolio and pipeline by acquiring Somerset Therapeutics and its India-based Wintac contract development and manufacturing business. The news comes as Endo has reported US generics sales down by a third – and total turnover down by 15% – in 2018.

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Endo Slashes Loss Despite Generics Slide

Endo sharply reduced its net loss in the first quarter, beating analysts’ earnings forecasts. While generics sales slid, revenues from its higher-margin sterile injectables unit soared.

Hybrid And Complex Opportunities Remain At The Heart Of Endo’s Strategy

Endo continues to see value in 505(b)(2) sterile injectables and complex generics, while “swift, tough decisions” on its more commoditised US retail generics are helping put the company ahead of its competitors.

Endo eyes the future and shuns shortages

Endo has no appetite for “going back and redeveloping” injectable drugs that are in short supply, because the firm’s focus remains on higher-value “technically-challenging products” and paragraph IV patent-challenge opportunities, according to the company’s president and chief executive officer, Paul Campanelli.

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