Endo International (ENDP) Warns Of More Pressure On Generics Business In 2017
11/9/2016 7:19:04 AM
Endo is facing increasing pricing and competitive pressures in its U.S. generics business and the trends will likely worsen in 2017, newly appointed Chief Executive Paul Campanelli said on Tuesday.
The warning overshadowed Endo's better-than-expected quarterly results that were driven by higher demand for its generic drugs, which accounts for about 60 percent of total revenue.
Endo's shares, which gained more than 4 percent in premarket trading, reversed course to close down nearly 7.5 percent at $14.51 on Tuesday.
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