Endo International plc – Ordinary Shares (NASDAQ:ENDP) posted Q3 2017 financial report, wherein it stated that revenue came at $787 million, an 11% drop compared to revenue of $884 million in third-quarter 2016.
The highlights
Endo International posted net loss of $100 million from continuing operations compared to $191 million in the same period, a year ago. Diluted loss per share came at $0.45 from continuing operations compared to $0.86 in the comparable quarter, a year earlier. Adjusted income came at $204 million from continuing operations versus $226 million recorded in the third-quarter of 2016.
Adjusted diluted EPS was $0.91 from continuing operations as against adjusted diluted EPS of $1.01 from continuing operations in the same quarter of 2016. Paul Campanelli, the CEO and President of Endo, expressed that they continue to implement against their major priorities and achieve robust operating results. The core segments of focus, Branded Specialty Products and Sterile Injectables, are achieving remarkable growth while they continue to lead margin expansion. They look forward to a robust finish to 2017 and they reaffirm the adjusted financial and revenue guidance they issued in August 2017.
Endo reported that total revenue in Q3 2017 dropped by 11% to $787 versus the same period in 2016. The drop was mainly due to previously reported discontinuance of U.S. Generic Pharmaceuticals product, pricing pressure from higher competition mainly impacting the U.S. Generics Base segment, generic competition negatively impacting the performance of Branded Established Products portfolio and the terminating of shipments of OPANA® ER to clients by September 1, 2017. GAAP net loss came at $100 million from continuing operations versus $191 million recorded in the comparable quarter of 2016.
In the last trading session, the stock price of Endo jumped more than 13% to close the day at $6.93. The gains came at a share volume of 12.14 million compared to average share volume of 7.58 million.
