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Endo International plc (NASDAQ: ENDP) has launched an unbranded campaign, Really Cellulite, through its subsidiary Endo Aesthetics. This initiative aims to dispel myths and shame surrounding cellulite, which affects over 90% of post-pubertal females. The campaign utilizes social media, influencer partnerships, and digital ads to educate women on the causes of cellulite and foster open discussions. An associated survey revealed that 60% of women feel guilty about their cellulite. The campaign seeks to empower women by providing scientific insights into this common condition.
Endo International plc (NASDAQ: ENDP) has announced the launch of the first authorized generic versions of Mallinckrodt's Amitiza® (lubiprostone) 8 mcg and 24 mcg capsules by its subsidiary, Par Pharmaceutical. This initiative aims to provide patients with a cost-effective alternative, as Amitiza® saw approximately $427 million in sales for the year ending September 30, 2020. The company positions itself as a reliable supplier in the generics market, further expanding its product offerings.
Endo International plc (NASDAQ: ENDP) will present at the J.P. Morgan Healthcare Conference on January 12, 2021, at 2:50 p.m. EST. A live webcast and audio archive will be available on the company's website. Participants are advised to log in 10 minutes early to ensure they have the necessary software for the stream. Endo is dedicated to providing quality, life-enhancing pharmaceutical therapies, leveraging a passionate global team to deliver innovative treatments.
BioSpecifics Technologies Corp. (NASDAQ: BSTC) has completed its acquisition by Endo International plc (NASDAQ: ENDP) for approximately $658.2 million. The all-cash tender offer for BioSpecifics' shares was priced at $88.50 per share, with approximately 6.16 million shares tendered, representing 82.8% of outstanding shares. The acquisition was executed through a merger, and BioSpecifics will be delisted from Nasdaq. The companies aim to leverage BioSpecifics' collagenase product, XIAFLEX®, and expand Endo's offerings, including its new cellulite treatment, Qwo™.
Endo International completed the acquisition of BioSpecifics Technologies Corp. for $88.50 per share, totaling approximately $540 million in an all-cash deal. The transaction enhances Endo's adjusted EBITDA and profitability, particularly for products XIAFLEX and QWO, which have significant growth potential. The acquisition follows a strategic relationship dating back to 2004. With 82.8% of shares tendered, BioSpecifics is now a wholly-owned subsidiary, ceasing to be publicly traded, indicating a strengthened market position for Endo.
Endo International plc (NASDAQ: ENDP) announced its participation in two upcoming investor conferences. The company will attend the 2020 Bank of America Leveraged Finance Virtual Conference on November 30, 2020, at 8:15 a.m. ET, and the Piper Sandler 32nd Annual Virtual Healthcare Conference from November 30 to December 3, 2020. Investors can access live and recorded webcasts of these events on the company's website for 90 days. Endo International is dedicated to providing quality therapies and is headquartered in Dublin, Ireland.
Endo International announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for its tender offer to acquire BioSpecifics Technologies Corp. The offer price is set at $88.50 per share, with the transaction expected to close in early December 2020, pending remaining conditions. The Boards of Directors of both companies have approved the Merger Agreement, and BioSpecifics' Board recommends that its stockholders tender their shares. The offer is scheduled to expire on December 1, 2020.
Endo International plc (NASDAQ: ENDP) reported Q3 2020 financial results indicating total revenues of $634.9 million, down 13% from $729.4 million in Q3 2019. The company experienced a reported loss from continuing operations of $69 million, worsening from $41 million the previous year. Adjusted income from continuing operations fell 20% to $122 million. However, Endo raised its full-year 2020 guidance, forecasting revenues of $2.75B to $2.80B and adjusted EBITDA of $1.30B to $1.32B, reflecting positive growth in its Branded Pharmaceuticals segment.
Endo International plc (NASDAQ: ENDP) announced strategic actions to optimize operations and enhance efficiency, aiming for annualized pre-tax cash savings of $85-$95 million. The company will exit manufacturing sites in California, New York, and India, reducing its workforce by approximately 560 positions by 2023. These changes are expected to incur restructuring charges of $100-$110 million. The restructuring is part of Endo's strategy to expand its product portfolio, including the upcoming launch of Qwo™, the first FDA-approved injectable treatment for cellulite in Spring 2021.
Endo International plc announced its tender offer to acquire all outstanding shares of BioSpecifics Technologies Corp. at $88.50 per share. The tender offer commenced on November 2, 2020, under a Merger Agreement dated October 19, 2020. The board of directors of BioSpecifics recommends stockholders tender their shares, stating the transaction is fair and in their best interests. The offer is set to expire at 11:59 PM on December 1, 2020. Further details will be filed with the SEC.