8/6/2023 0 Comments Endo pharma slalomAdjusted diluted net income per share from continuing operations in third-quarter 2022 was $0.47 compared to $0.80 in third-quarter 2021. These results were primarily due to higher litigation-related charges in third-quarter 2022 adjusting the Company's estimate of opioid-related liabilities to be consistent with the voluntary trust proposed to be funded by the purchaser, higher asset impairment charges, expenses related to the Chapter 11 reorganization process and decreased revenues, which were partially offset by lower operating expenses and lower interest expense as a result of the Chapter 11 filing.Īdjusted income from continuing operations in third-quarter 2022 was $112 million compared to $189 million in third-quarter 2021. Reported diluted net loss per share from continuing operations in third-quarter 2022 was $3.05 compared to $0.21 in third-quarter 2021. Reported loss from continuing operations in third-quarter 2022 was $718 million compared to $49 million in third-quarter 2021. This decrease was primarily attributable to decreased revenues from the Sterile Injectables and Branded Pharmaceuticals segments, partially offset by increased revenues from the Generic Pharmaceuticals segment. Total revenues were $542 million in third-quarter 2022, a decrease of 30% compared to $772 million in third-quarter 2021. Information can also be found on the website of Endo's noticing and claims agent at restructuring.ra./endo. Bankruptcy Code on August 16, 2022, after entering into a restructuring support agreement with holders of more than a majority of Endo's first lien debt on a sale transaction for substantially all of the Company's assets that would reduce outstanding indebtedness, address remaining opioid and other litigation-related claims, and best position Endo for the future.įor additional information about Endo's Chapter 11 proceedings, please review Endo's most recent Quarterly Report on Form 10-Q and other filings with the U.S. Refer to note (15) in the "Notes to the Reconciliations of GAAP and Non-GAAP Financial Measures" section below for additional discussion.Įndo and certain of its direct and indirect subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. This change has been applied retrospectively to all periods presented. Refer to the "Supplemental Financial Information" section below for reconciliations of certain non-GAAP financial measures to the most directly comparable GAAP financial measures.Įffective January 1, 2022, these non-GAAP financial measures now include acquired in-process research and development charges which were previously excluded under Endo's legacy non-GAAP policy. The information presented in the table above includes non-GAAP financial measures such as Adjusted Income from Continuing Operations, Adjusted Diluted Weighted Average Shares, Adjusted Diluted Net Income per Share from Continuing Operations and Adjusted EBITDA. In the case of Adjusted Diluted Weighted Average Shares, Adjusted Income from Continuing Operations is used in determining whether to include such dilutive impact. We look forward to the opportunities ahead for our combined generics business.Reported Diluted Net Loss per Share from Continuing Operations is computed based on weighted average shares outstanding and, if there is income from continuing operations during the period, the dilutive impact of ordinary share equivalents outstanding during the period. "I would like to take the opportunity to thank the leadership team and the hard-working employees at Qualitest for continuing to drive the business forward and deliver year-over-year double-digit growth during this period of transition. ![]() ![]() ![]() "We are also pleased to welcome Paul Campanelli, former CEO of Par Pharmaceutical, as group president, Par Pharmaceutical to the Endo executive leadership team and are excited about his anticipated contributions to the organisation. Par former CEO Paul Campanelli is joining Endo’s executive leadership team as the new business unit’s group president.Įndo president and CEO Rajiv De Silva said: "We are pleased to announce the completion of this transformational acquisition that has strategically expanded our product portfolio, R&D pipeline, manufacturing and technology capacity and generics expertise for the benefit of patients, customers and shareholders. "The purchase price for Par consisted of 18 million shares of Endo equity and $6.5bn in cash."
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