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Endo International reported second-quarter 2020 revenues of $688 million, a 2% decline from $700 million in the same period last year, primarily due to reduced activity in the Branded Pharmaceuticals segment amidst COVID-19. However, income from continuing operations rose to $18 million from a loss of $98 million last year. Adjusted income from continuing operations increased by 9% to $152 million, and adjusted diluted EPS improved to $0.65. The Sterile Injectables segment saw a strong 31% revenue growth, driven by inventory stockpiling for COVID-19 treatments. The firm anticipates third-quarter revenues of $515-$550 million.
Endo International plc (NASDAQ: ENDP) has announced a change in the schedule for its second-quarter 2020 earnings conference call, aimed at reducing conflicts with other calls. The call will occur on August 6, 2020 at 7:00am EDT, prior to the opening of U.S. financial markets. The financial results will be released after market closure on August 5, 2020. Interested parties can participate via dial-in or a webcast, with replay options available following the event.
Endo International plc (NASDAQ: ENDP) has appointed Christie Smith, Ph.D., as a non-executive director, effective July 29, 2020. Dr. Smith, previously Global VP for Inclusion and Diversity at Apple, brings extensive experience in human capital and strategy development. She is now the seventh independent director on Endo's nine-member Board. Chairman Paul Campanelli and CEO Blaise Coleman expressed confidence in Dr. Smith’s contributions toward Endo's goals of delivering life-enhancing products.
Endo International plc (NASDAQ: ENDP) announced FDA approval for Qwo™ (collagenase clostridium histolyticum-aaes), the first injectable treatment for moderate to severe cellulite in adult women's buttocks. This approval marks a significant milestone in Endo's strategy to expand its medical aesthetics portfolio. Qwo targets fibrous septae that cause cellulite, potentially improving skin appearance. It is set to launch in Spring 2021. Side effects include bruising and pain. The innovative treatment aims to meet a significant market demand for effective cellulite solutions.
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Endo International plc (NASDAQ: ENDP) has announced it will report its second-quarter 2020 financial results on August 6, 2020. A conference call with senior management will occur at 7:30 AM ET to discuss the results before U.S. markets open. The dial-in number is U.S./Canada (866) 497-0462 or International (678) 509-7598, with a passcode of 2058864. A replay will be available from August 6 at 10:30 AM ET until August 13 at 10:30 AM ET. The webcast can be accessed via Endo's investor relations website.
Endo International plc announced successful completion of its Exchange Offers and Consent Solicitations, with over 97% of notes tendered, resulting in an extension of more than $2.7 billion in near-term debt maturities. The company exchanged various outstanding senior unsecured notes for new secured and unsecured notes, enhancing financial flexibility. Requisite consents were also secured, allowing for greater covenant flexibility. The settlement date is projected for June 16, 2020, and accrued interest will be paid to eligible holders. J.P. Morgan and Citigroup acted as lead dealers for the transactions.