BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Endo Health Solutions Inc. (Formerly Known as Endo Pharmaceuticals Holdings Inc.) (ENDP) Will Detail Long-Term Strategy at 2012 Investor Day


10/5/2012 10:34:50 AM

CHADDS FORD, Pa., Oct. 4, 2012 /PRNewswire-FirstCall/ --

  • Highlights long-term growth drivers and investment attributes of the company
  • Endo updates 2012 performance, reaffirms full year 2012 revenues of $3.05 to $3.175 billion and adjusted diluted EPS in the range of $5.00 to $5.20; expects reported or GAAP diluted EPS of $1.37 to $1.57
  • Company expects 2013 revenue of $3.0 to $3.2 billion and adjusted diluted EPS of $5.20 to $5.40; expects reported or GAAP diluted EPS of $3.17 to $3.37

Endo Health Solutions (Nasdaq: ENDP) today is hosting an Investor Day in New York City. As part of the presentation, the company will be providing an update on 2012 financial results and projected results for the twelve months ending Dec. 31, 2013.

As previously announced, the Investor Day will begin today at 9:00 a.m. ET and a live audio and slide webcast will be available on Endo's corporate website. David P. Holveck, president and CEO of Endo; Julie McHugh, chief operating officer; Dr. Ivan Gergel, executive vice president of R&D and chief scientific officer; Camille Farhat, president American Medical Systems; Kelly Huang, president HealthTronics; and Alan Levin, executive vice president and chief financial officer, will provide details on the company's long-term strategy to drive growth through a number of opportunities in each of its business segments and across its core therapeutic areas of pain and urology. The meeting will be hosted by Blaine Davis, senior vice president of corporate affairs for Endo.

Endo today will highlight the following among the long-term drivers of its growth prospects for 2013 and beyond:

  • Strong growth prospects Endo expects sustained double digit net sales growth at Qualitest, accelerating mid-single digit AMS growth and strong prescription growth for OPANA® ER and Voltaren® Gel.
  • Disciplined operating efficiency a track record and plan for continued management of operating expenses. Endo will manage the loss of Lidoderm® exclusivity, with multi-year expense reductions while planning for retaining 30% of Lidoderm® sales after entry of the first generic competitor.
  • Diversified pipeline consisting of development assets in branded and generic drugs, as well as medical devices.
  • Durable cash flow generation over $3 billion in adjusted EBITDA forecasted on a cumulative basis from 2013 to 2015 will provide Endo with financial flexibility to support organic and strategic growth, deleveraging and share repurchases.

2012 Financial Outlook Update

Endo reiterates its full-year financial guidance for total revenue between $3.05 billion and $3.175 billion, adjusted diluted earnings per share to be between $5.00 and $5.20 and cash flow from operations between $700 million and $800 million.

Endo also announced today that it has bought back $100 million of its common stock during the third quarter. Endo announced on Aug. 7, 2012, that the Board of Directors had authorized the company to repurchase up to $450 million of its common stock through March 2015.

The company will provide guidance with respect to third and fourth quarter 2012 earnings expectations, and greater clarity with respect to the timing of implementation for its recently introduced expense restructuring initiatives as well as recent sales trends for key products. Endo indicated that it expects third quarter adjusted diluted earnings per share to be approximately $1.25.

2013 Financial Guidance

The Company expects its financial results in 2013 to reflect the performance of a quality group of commercial assets and efficient operations, partially offset by the entry of a generic competitor to Lidoderm® in late 2013. Estimates are based on projected results for the twelve months ending Dec. 31, 2013; reported (GAAP) earnings per share does not include any estimates for potential future changes in the fair value of contingent consideration, certain separation benefits, asset impairment charges or for potential corporate development transactions. For the full year ended Dec. 31, 2013, Endo estimates:

  • Total revenue between $3.0 billion and $3.2 billion
  • Reported (GAAP) diluted earnings per share between $3.17 and $3.37
  • Adjusted diluted earnings per share between $5.20 and $5.40

Endo's 2013 guidance is based on certain current assumptions including:

  • Adjusted gross margin between 65 percent and 66 percent
  • Reduction in adjusted operating expenses in the mid-single digit range versus 2012
  • Adjusted effective tax rate of between 30 percent and 31 percent
  • Continued growth in Qualitest, OPANA® ER, Voltaren® Gel and AMS
  • A single generic competitor for Lidoderm® entering the market on Sept. 15, 2013.

Meeting Details

In person attendance at the meeting is by invitation only. To access the live audio webcast and view the accompanying slide presentations, visit the Investor Relations section on Endo's corporate website, at http://www.endo.com/investors/overview, at least 15 minutes before the presentation is scheduled to begin; click on the webcast icon to register and download or install any necessary software. If you are unable to view the live webcast, a replay will be available on Endo's website after the event's conclusion.

See Endo's Current Report on Form 8-K filed today with the Securities and Exchange Commission for an explanation of Endo's reasons for using non-GAAP measures.



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES