Endo Pharmaceutical Holdings Inc. Stock Downgraded (ENDP)

Endo Pharmaceutical Holdings (Nasdaq:ENDP) has been downgraded by TheStreet Ratings from buy to hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally poor debt management and disappointing return on equity. 

Highlights from the ratings report include: 

The revenue growth came in higher than the industry average of 5.4%. Since the same quarter one year prior, revenues rose by 23.3%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share. 

The gross profit margin for ENDO PHARMACEUTICALS HLDGS is currently very high, coming in at 73.10%. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of -12.60% is in-line with the industry average. 

ENDO PHARMACEUTICALS HLDGS has exprienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past two years. However, the consensus estimate suggests that this trend should reverse in the coming year. During the past fiscal year, ENDO PHARMACEUTICALS HLDGS reported lower earnings of $1.54 versus $2.18 in the prior year. This year, the market expects an improvement in earnings ($5.10 versus $1.54). 

Net operating cash flow has significantly decreased to -$13.06 million or 109.96% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower. 

The share price of ENDO PHARMACEUTICALS HLDGS has not done very well: it is down 11.50% and has underperformed the S&P 500, in part reflecting the company's sharply declining earnings per share when compared to the year-earlier quarter. Looking ahead, other than the push or pull of the broad market, we do not see anything in the company's numbers that may help reverse the decline experienced over the past 12 months. Despite the past decline, the stock is still selling for more than most others in its industry. . 

Endo Pharmaceuticals Holdings Inc. operates as a specialty healthcare solutions company in the United States and internationally. The company has a P/E ratio of 22.7, equal to the average drugs industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Endo has a market cap of $4.11 billion and is part of the health care sector and drugs industry. Shares are up 0.4% year to date as of the close of trading on Wed

Pharmaceutical Company Warns of Opana, Percocet Painkiller Shortages

Painkillers like Percocet and Opana from Endo Pharmaceuticals may be in short supply after their production facility was shut down for manufacturing and quality issues, the company warned.Novartis, the maker of certain painkillers for Endo, said on Sunday it was shutting its plant in Lincoln, Nebraska, to fix problems such as pills getting chipped or broken in the production process, or medications getting mixed. Novartis could not say how long the plant would be closed.Quality issues and manufacturing problems contribute to most drug shortages in the United States, where 220 medicines were in short supply last year, up from 56 in 2006.Novartis was the only manufacturer of an extended-release version of Opana, Endo's opioid pain drug. Endo said it was warning doctors not to prescribe Opana to new patients until it could devise other options to producing the pills.The Food and Drug Administration, the U.S. drugs regulator, said there are alternatives to Opana, such as painkillers based on hydrocodone, oxycodone and morphine.Endo shares fell 2.2 percent in afternoon trading on Nasdaq, versus a small gain in the S&P Pharmaceuticals Index.Endo said other painkillers such as Percocet and Endocet could be made at a separate facility in Huntsville, Alabama."Given existing inventories, the expected restart of Novartis production and our ability to shift production to other facilities we believe the supply constraints of our products should be limited," said Julie McHugh, chief operating officer of Endo Pharmaceuticals, in a statement.The FDA said on Monday there was a small chance that stray pills from Endo could have gotten mixed in with a different medication during production. Patients should stop taking their painkillers if any pills look different from the rest, the agency said.But the agency said it was not asking Endo to recall its medicines, since the likelihood of a mix-up was low, and the painkillers are medically necessary.Endo said it was aware of only three product mix-ups since 2009, and each time, pharmacists noticed the problem before the drugs reached patients.

Bearish Moving Average Cross by Endo Pharmaceuticals (ENDP)

Today, shares of Endo Pharmaceuticals (NASDAQ:ENDP) have fallen below their 10-day MA of $34.79 on a volume of 173K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.Endo Pharmaceuticals Holdings Inc. is a specialty pharmaceutical company with products that provide pain management. The Company researches, develops, produces, and markets both branded and generic pharmaceuticals. Endo's products include Percocet, Percodan, and Lidoderm.Over the past year, Endo Pharmaceuticals has traded in a range of $26.02 to $44.53 and is now at $34.39, 32% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.There is potential upside of 30.1% for shares of Endo Pharmaceuticals based on a current price of $34.39 and an average consensus analyst price target of $44.73. The stock should find resistance at its 200-day moving average (MA) of $35.34, as well as support at its 50-day MA of $32.74.

Citigroup (C) Analysts Reiterate a “Buy” Rating on Endo Pharmaceuticals (ENDP)

Endo Pharmaceuticals (NASDAQ: ENDP)‘s stock had its “buy” rating reaffirmed by equities research analysts at Citigroup (NYSE: C) in a research note issued to investors on Tuesday. The analysts currently have a $48.00 price target on the stock.

Separately, analysts at Goldman Sachs (NYSE: GS) reiterated a “neutral” rating on shares of Endo Pharmaceuticals in a research note to investors on Wednesday, December 14th. Analysts at Credit Suisse (NYSE: CS) raised their EPS on shares of Endo Pharmaceuticals in a research note to investors on Tuesday, December 13rd. They now have a “neutral” rating and a $40.00 price target on the stock. Also, analysts at Zacks Investment Research reiterated a “neutral” rating on shares of Endo Pharmaceuticals in a research note to investors on Friday, November 11st. They now have a $34.00 price target on the stock.

Endo Pharmaceuticals Holdings Inc. is a specialty pharmaceutical company in pain management. The Company is engaged in the research, development, manufacturing, marketing and sales of branded and generic pharmaceutical products used primarily to treat and manage pain, overactive bladder, prostate and bladder cancer and central precocious puberty. Its portfolio of branded products includes Lidoderm, Opana ER and Opana, Percocet, Frova, Voltaren Gel, Vantas, Valstar and Supprelin LA. The Company concentrates on generics that have one or more barriers to market entry, such as complex formulation, regulatory or legal challenges or difficulty in raw material sourcing. During the year ended December 31, 2009, the branded products comprised approximately 91% of the Company’s net sales. In March 2009, Endo Pharmaceuticals Holdings Inc. completed the acquisition of Indevus Pharmaceuticals, Inc.

Shares of Endo Pharmaceuticals opened at 35.00 on Tuesday. Endo Pharmaceuticals has a 52 week low of $26.02 and a 52 week high of $44.53. The stock’s 50-day moving average is $33.6 and its 200-day moving average is $33.69. The company has a market cap of $4.089 billion and a price-to-earnings ratio of 17.40.

Endo Pharma falls on ruling in Watson lawsuit

Shares of Endo Pharmaceutical Holdings Inc. fell Tuesday after a judge ruled against the company, which is trying to defend the patents on its Lidoderm pain patch.THE SPARK: Analysts said the U.S. District Court in Delaware ruled in favor of Watson Pharmaceuticals Inc., which is hoping to market its own generic version of Lidoderm. They said the court favored Watson's interpretation of the patent over Endo's.THE BIG PICTURE: The ruling does not overturn the patent or allow Watson to launch its generic, but it could hurt Endo's position as the companies prepare to go to trial. The trial is scheduled to begin in February.Endo declined to comment on the decision but said it has worked to diversify its business in recent years, making Lidoderm a smaller piece of its revenue. The company acquired Penwest Pharmaceuticals and Qualitest Pharmaceuticals last year for a combined price of more than $1.3 billion, and in April, it paid $2.9 billion for American Medical Systems, which makes devices and treatments for use in urology and gynecology.The company said it expects Lidoderm to provide less than 30 percent of its revenue in 2012.THE ANALYSIS: Jefferies & Co. analyst Corey Davis said the judge found that the disputed patent covered only one of a group of ingredients, as Watson had argued, while Endo argued the patent covered one or more ingredients. Davis said that if Watson's generic is approved, it will probably not reach the market until mid-2013 at the earliest.Collins Stewart analyst Louise Chen said Endo plans to appeal the ruling, and that it appears the judge did not follow precedent in his ruling.SHARE ACTION: Endo stock lost 85 cents, or 2.1 percent, to $38.89 in afternoon trading. Watson stock gained $2.34, or 3.6 percent, to $67.79.

Endo Pharmaceuticals - 52 Week High

Shares of Endo Pharmaceuticals Holdings Inc. (NASDAQ:ENDP) booked a new 52 week high today by trading above $40.61, traders are definitely monitoring Endo's price action to see if this move attracts further buying into the stock.

Endo Pharmaceuticals Holdings Inc. is a specialty pharmaceutical solutions company, focused on high-value branded products and specialty generics. The company delivers an innovative suite of complementary diagnostics, drugs, devices and clinical data to meet the needs of patients in areas such as pain, urology, oncology and endocrinology.

Endo Pharmaceuticals is currently trading 1.41% versus its previous trading session close, and it has calculated support and resistance at $33.46 and $39.24 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading lower by -0.27% from its previous trading close, which means that Endo Pharmaceuticals stock is outperforming the overall market.

Endo Pharmaceuticals Appoints Dr. David Nash to Board of Directors

Endo Pharmaceuticals (Nasdaq: ENDP) announced today the appointment of David B. Nash, M.D., M.B.A., to the company's board of directors. Dr. Nash is the Founding Dean of the Jefferson School of Population Health at Thomas Jefferson University in Philadelphia. Dr. Nash is internationally recognized for his work in outcomes management, medical staff development and quality-of-care improvement. Dr. Nash is also a member of the Board of Directors of Humana, headquartered in Louisville, Ky. His appointment brings the number of Endo board members to nine.

Roger Kimmel, chairman of the board of Endo Pharmaceuticals, stated: "We are pleased to have David join our board and bring his vast pharmaceutical and healthcare knowledge and experience to our company. We welcome his contributions to our future success as Endo continues to diversify its business in branded and generic prescription pharmaceuticals, as well as devices and services, across therapeutic areas with a core focus in pain and urology."

Endo Pharmaceuticals Appoints Dr. David Nash to Board of Directors

Endo Pharmaceuticals announced today the appointment of David B. Nash, M.D., M.B.A., to the company's board of directors. Dr. Nash is the Founding Dean of the Jefferson School of Population Health at Thomas Jefferson University in Philadelphia. Dr. Nash is internationally recognized for his work in outcomes management, medical staff development and quality-of-care improvement. Dr. Nash is also a member of the Board of Directors of Humana, headquartered in Louisville, Ky. His appointment brings the number of Endo board members to nine.

Roger Kimmel, chairman of the board of Endo Pharmaceuticals, stated: "We are pleased to have David join our board and bring his vast pharmaceutical and healthcare knowledge and experience to our company. We welcome his contributions to our future success as Endo continues to diversify its business in branded and generic prescription pharmaceuticals, as well as devices and services, across therapeutic areas with a core focus in pain and urology."

ENDO PHARMACEUTICALS SET TO POSSIBLY REBOUND AFTER YESTERDAY'S SELLOFF OF 2.30% (ENDP)

Endo Pharmaceuticals (NASDAQ:ENDP) traded in a range yesterday that spanned from a low of $33.41 to a high of $34.47. Yesterday, the shares fell 2.30%, which took the trading range below the 3-day low of $33.57 on volume of 677,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.

Shares of Endo Pharmaceuticals are currently trading below their 50-day moving average (MA) of $35.38 and should find support at their 200-day MA of $28.89. Look for the MA to provide resistance for a short-term rebound in the shares.

Endo Pharmaceuticals Holdings Inc. is a specialty pharmaceutical company with products that provide pain management. The Company researches, develops, produces, and markets both branded and generic pharmaceuticals. Endo's products include Percocet, Percodan, and Lidoderm.

Endo Pharmaceuticals and Orion Corporation Begin Novel R&D Collaboration

Endo Pharmaceuticals announced today that it has entered into a collaboration agreement with European-based Orion Corporation for the discovery, development and commercialization of assets in Oncology.

The formation of this R&D collaboration partnership allows the companies to bring forward a total of eight "discovery phase" candidates by combining an equal number of programs. The collaboration also allows both companies to exclusively license the others' development-ready programs at pre-determined stages and share all development costs.

"This alliance marks another milestone in the transformation of Endo's R&D platform," said Dr. Ivan Gergel M.D., executive vice president, Research & Development at Endo Pharmaceuticals. "We are excited about this opportunity to collaborate with an experienced partner like Orion and look forward to continuing to bring new therapies and healthcare solutions to payers, physicians and patients. This type of collaboration fits well into our new, efficient and effective virtual R&D model."

Dr. Reijo Salonen, senior vice president of Orion Corporation's Research and Development, commented: "I am very pleased with the collaboration agreement with Endo. This will immediately extend the Oncology R&D pipelines of both companies. The agreement is also perfectly in line with Orion's R&D strategy to focus on risk-sharing partnerships. We look forward to developing new cancer therapies for the patients jointly with Endo."

The companies will co-develop the assets coming out of this collaboration and share all development costs. Orion will have marketing rights in Europe, including Russia, while Endo will retain marketing rights for North America. The companies will pay cross royalties to each other on sales from their respective territories, and will mutually decide the most effective method to maximize product opportunities in rest of world (ROW) territories after phase II and share ROW revenues. With the establishment of the partnership Endo has exercised its option to license the lead asset in this collaboration discovered at Orion, a novel androgen-receptor antagonist for the treatment of advanced prostate cancer, which will be developed jointly by both companies for approval globally. It will be entering into phase one clinical trials in the near future.

Endo Pharmaceuticals Beats Estimates With $100 Million Profit (ENDP)

Chadds Ford, Pennsylvania based pharmaceutical company Endo Pharmaceuticals Holdings Inc. (on Monday morning released financial results that beat Wall Street expectations.

Endo Pharmaceuticals Holdings Inc reported that its 3rd quarter net income rose to $100.8 million, or 46 cents per share, up from $74.3 million, or 42 cents per share, a year earlier.

Excluding special items, the company earned 86 cents per share.

Revenues climbed 23% to $444.1 million, up from $361 million a year earlier.

A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 84 cents per share, on revenue of $443.36 million.

President and CEO Dave Holveck said, "Endo had another strong quarter, with record revenues and adjusted earnings. I'm excited that we achieved these results while completing important steps in our ongoing transformation of Endo into a leading provider of healthcare solutions."

Endo Pharmaceuticals Holdings Inc. ended the previous trading session at $36.74 per share. Analysts covering the company's stock have a consensus price target of $37.47 per share.

Endo Pharmaceuticals (ENDP) recently announced a major acquisition which will push earnings significantly higher in 2011. The company has good value f

Endo Pharmaceuticals (ENDP) recently announced a major acquisition which will push earnings significantly higher in 2011. The company has good value fundamentals to go along with the growth, as it has a PEG ratio of just 0.80.Endo Pharmaceuticals provides healthcare solutions to healthcare professionals to help them manage the needs of patients in areas such as pain, urology, oncology and endocrinology.The company develops and commercializes branded and generic pharmaceutical products to manage pain.Acquiring Qualitest for $1.2 Billion in CashOn Sep 28, Endo announced it had entered into an agreement to purchase Qualitest Pharmaceuticals, the 6th largest generics company, for $1.2 billion in cash. The company will use $500 in cash, $300 in a revolving credit facility and $400 million in secured financing.40% of Qualitest’s portfolio is controlled substances with 17% being liquids. Qualitest has 175 product families. 40% of Qualitest’s revenues were derived from pain products.Endo expects significant revenue and earnings growth from the combined companies. It will be immediately accretive to earnings in the first full year after the close by adding $400 million in revenue and 40 cents in EPS.The deal is expected to close in late fourth quarter 2010 or early in 2011.Reaffirmed 2010 Revenue GuidanceEndo also reaffirmed its 2010 revenue guidance eon Sep 28, of between $1.63 billion and $1.68 billion.Earnings per share are still expected in the range of $3.30 and $3.35 per share.Zacks Consensus Estimates Already Higher1 estimate has moved higher for 2010 in the last week. The 2010 Zacks Consensus Estimate is up 13 cents to $3.34 in the last 60 days. This is at the high end of the company’s guidance range.Given that Endo just recently reaffirmed, we’ll have to wait and see if there are revisions to the current estimates.Right now, analysts expect earnings to grow 17.6% compared to 2009. They also expect 10% earnings growth for 2011 but clearly that will change due to the acquisition announcement.Endo is expected to report earnings on Oct 28.

Endo Pharmaceuticals Introduces VALSTAR(TM) (Valrubicin) To Fill Unmet Need In Aggressive...

CHADDS FORD, Pa., Endo Pharmaceuticals (Nasdaq: ENDP) today announced the availability of VALSTAR(TM) (valrubicin) for the treatment of a distinct form of bladder cancer. VALSTAR is the only FDA-approved intravesical therapy for patients with Bacille Calmette-Guerin (BCG)-refractory carcinoma in situ (CIS) of the urinary bladder for whom immediate removal of the bladder would be associated with unacceptable medical risks. VALSTAR represents a new treatment option for these patients who may otherwise have exhausted all other FDA-approved treatment alternatives, including BCG.

"Patients with recurrent carcinoma in situ bladder tumors who fail traditional therapy have been significantly underserved due to the lack of available approved treatment alternatives, and VALSTAR will provide a well-tolerated treatment option for these patients," said Dave Holveck, president and chief executive officer of Endo Pharmaceuticals. "Our launch of VALSTAR also represents our initial offering in a long-term plan by Endo to deliver multiple therapies to improve and extend the lives of patients with different types of bladder cancer, as evidenced by our recent agreement with Bioniche."

VALSTAR, a sterile solution for intravesical instillation of valrubicin, is placed directly into the bladder through a catheter and is administered once a week for six weeks under the supervision of a physician experienced in the use of intravesical cancer chemotherapeutic agents.

In the pivotal clinical trial, VALSTAR was shown to induce a complete response in about one in five patients at six months following initiation of therapy, and 29 percent of patients derived a clinical benefit from VALSTAR treatment. It is important to note that if after VALSTAR treatment a patient does not have a complete response of CIS after three months, or if CIS recurs, surgical bladder removal must be reconsidered.

VALSTAR was approved by the FDA for this indication in 1998 and marketed by Anthra Pharmaceuticals, Inc. In 2002, Anthra voluntarily withdrew VALSTAR from the U.S. market because of a formulation issue with an inactive component. Since market removal, VALSTAR has been on the FDA Drug Shortages List, which was established to address and alleviate shortages primarily of medically necessary drug products, since these can have significant public health consequences. On Feb. 27, 2009, Indevus Pharmaceuticals, Inc., the previous owner of VALSTAR, received FDA approval to re-introduce VALSTAR after modifying the formulation. On March 23, 2009, Endo acquired Indevus Pharmaceuticals and began preparing to re-launch VALSTAR. VALSTAR represents the first product launch by Endo Pharmaceuticals in the urology and oncology therapy markets.

"Patients who have failed multiple courses of BCG have few to no remaining treatment alternatives, in part because many patients cannot undergo surgical bladder removal due to comorbid medical conditions, and the procedure may be associated with significant risk of complications and alteration of lifestyle and body image," said Gary Steinberg, M.D., FACS, Professor and Vice Chairman of Urology, Director of Urologic Oncology at the University of Chicago Medical Center. "Although valrubicin was previously available, it has never been an option for the thousands of people suffering today from this disease, and this reintroduction may bring new hope to many patients."

Piper Jaffray Upgrades Endo Pharmaceuticals (ENDP) to Overweight; Long-Term EPS Growth Increasingly Sustainable

Piper Jaffray & Co. upgrades Endo Pharmaceuticals (Nasdaq: ENDP) from Neutral to Overweight. Price target increased to $29 from $18.

Piper analyst says, "We believe the Lidoderm "cliff" year in 2015/2016 is looking less onerous than we had previously thought. We believe the current P/E of 7x the Street's 2010 EPS estimate is attractive, particularly in the context of an estimated 5-year EPS CAGR of 10%...We expect EPS to grow to $3.39 by 2011 and $4.43 by 2014, up from $2.67 in 2009...We believe more visibility on oral axomadol (a tramadol-like compound that is a new chemical entity) could be a longer-term catalyst for the shares. We will likely see Phase II data in chronic/neuropathic pain in 12-18 months."

Generic Drug Co Recalls Acetaminophen To Avoid Dose Confusion

WASHINGTON -A generic pharmaceutical company based in Georgia is recalling concentrated drops of acetaminophen, a key ingredient in Tylenol, to help patients avoid accidentally overdosing on the product, the U.S. Food and Drug Administration said Wednesday.

Acetaminophen, a drug in Tylenol and a host of cough medicines and painkillers, is under intense scrutiny by the FDA because high-doses of the medicine are the leading cause of liver damage.

The FDA said Brookstone Pharmaceuticals LLC has voluntarily begun recalling its Concentrated Acetaminophen Drops, which are available in 16-ounce bulk containers. "The firm is recalling its product to the consumer level as a cautionary measure to minimize any confusion and potential risk to patients from dosing errors," the company said in a press release, which was posted on the FDA's Web site Wednesday.

A Brookstone representative wasn't immediately available to comment.

The FDA has been looking at liver-injury concerns associated with acetaminophen for more than 30 years. At a widely publicized FDA meeting in June, more than 30 doctors and researchers recommended new limits on dosing for acetaminophen and asked that the painkillers Percocet and Vicodin be pulled from the market. Percocet, made by Endo Pharmaceuticals Holdings Inc. (ENDP), and Abbott Laboratories' (ABT) Vicodin combine acetaminophen with other pain-killing ingredients.

About 100 people die annually from accidentally overdosing on acetaminophen, though the FDA says it is safe if taken at recommended levels. Part of the problem with dealing with liver injuries associated with acetaminophen is the drug's prevalence. Often patients don't realize they are taking an over-the-counter product and a prescription product at the same time that contain that same ingredient.

The company's recall is tied directly to confusion about dosing and the FDA's advisory panel meeting in June. "Brookstone has not received any adverse events associated with this product but due to recent advisory panel concerns, Brookstone has taken voluntary action," the company's press release said.

Lawmakers, Drug Makers Spar Over Patent Settlements

WASHINGTON -Executives for Mylan Inc. (MYL) and Endo Pharmaceuticals Inc. (ENDP) faced a grilling on Capitol Hill Wednesday from lawmakers who support legislation to bar pharmaceutical patent settlements that delay the introduction of generic drugs.

Critics in Congress and at the U.S. Federal Trade Commission say the deals are anticompetitive because branded drug makers pay their generic counterparts to abandon patent challenges that could lead to early market entry of competing generic medicines.

"Generic companies are getting paid handsomely to sit on the sidelines," said Richard Feinstein, head of the FTC's Bureau of Competition.

Feinstein, speaking before a House subcommittee that examines antitrust issues, said the settlements are a "win-win for the drug companies" but "impose enormous costs on the health care system."

A different House subcommittee voted Wednesday afternoon in favor of the legislation to ban the settlements. The bill will now move forward for full committee consideration by the U.S. House Committee on Energy and Commerce.

Guy Donatiello, Endo's vice president for intellectual property, took a very different view than the FTC, saying the settlements often were good for consumers.

Donatiello, whose company makes branded and generic drugs, said the settlements often allow generic drugs on the market before a branded drug-maker's patent ends, while also removing the uncertainty of litigation.

"While it's a delicate balance, the current system works," he said.

Mylan's chief operating officer, Heather Bresch, said her company and other generic makers were sometimes forced into settlements by branded companies that exploit a loophole in the federal law Congress passed to encourage generic companies to challenge questionable drug patents.

That loophole, Bresch said, essentially allows a brand-name drug maker to re-label one of its medicines and market the very same product as an "authorized generic" version.

Branded drug makers threaten this preemptive move when a competing generic company mounts a legal challenge to one of their patented medicines, she said.

"It definitely serves as a huge detriment to the generic industry," Bresch said.

In written testimony, Bresch singled out Eli Lilly & Co. (LLY) and GlaxoSmithKline PLC (GSK) as advocates of this practice.

The FTC's Feinstein said the agency was studying the issue of authorized generics and planned on issuing preliminary findings soon.

Lawmakers voiced competing views on whether patent settlements that delay generic drugs should be banned.

"Look folks, drugs are too expensive," said House Judiciary Committee Chairman John Conyers, D-Mich. "Generics are cheaper. Settlements make drugs more expensive."

Rep. Bob Goodlatte, R-Va., said most courts to consider the issue have ruled that the settlements are not anticompetitive. Modern antitrust law, he said, has moved away from rules to make certain business practices automatically illegal.

The FTC has challenged some drug agreements in court but has had limited success.

Most recently, the agency sued three drug makers in February, alleging that Brussels-based Solvay Pharmaceuticals Inc. (SVYSY), the maker of the testosterone drug AndroGel, entered into an illegal agreement with generic drug companies Watson Pharmaceuticals Inc. (WPI) and Par Pharmaceutical Cos. (PRX) to delay the introduction of a generic competitor.

Endo Pharmaceuticals names Levin finance chief

CHADDS FORD, Pa. - Drug developer Endo Pharmaceuticals Holdings Inc. on Thursday named Alan G. Levin executive vice president and chief financial officer to replace the position left open by Charles Rowland.
Rowland resigned to pursue other interests in September.
Levin will become chief financial officer June 1. He was previously a chief financial officer at Moksha8 Pharmaceuticals Inc., a privately held pharmaceuticals company focusing on emerging markets. He has also previously worked at Pfizer.
Shares of Endo rose 15 cents to close at $16.29.

Endo Pharmaceuticals Appoints Alan G. Levin as Chief Financial Officer

CHADDS FORD, Pa.,- Endo Pharmaceuticals (Nasdaq: ENDP) announced today the appointment of Alan G. Levin as the company's executive vice president and chief financial officer, effective June 1, 2009. Previously, Mr. Levin was senior vice president and chief financial officer of Pfizer, Inc. where he worked for 20 years in a variety of executive positions of increasing responsibility, including treasurer, and senior vice president of finance and strategic management for the company's research and development organization. Most recently, he was executive vice president and chief financial officer of Moksha Pharmaceuticals, Inc., a privately held, specialty pharmaceuticals company focused in Latin America and other emerging markets. Mr. Levin began his career in public accounting. He received a bachelor's degree from Princeton University and a master's degree from New York University's Stern School of Business.

"I am very pleased to announce the appointment of Alan as our chief financial officer," said David Holveck, president and chief executive officer of Endo Pharmaceuticals. "Alan is uniquely qualified to serve in this important role given his broad pharmaceutical industry experience and his keen understanding of the growth opportunities for Endo as we execute our strategy to diversify and expand our business into new therapeutic areas and medical markets. I believe his experience in corporate finance and business development, his familiarity with pharmaceutical company operations, and his knowledge of global healthcare trends will be extremely valuable as we continue to build this business."

"I am very excited to be joining Endo Pharmaceuticals," said Alan Levin. "The company has tremendous potential and is uniquely positioned to take advantage of the many opportunities for growth, diversification and value creation that we see in the marketplace. I look forward to working closely with Dave, and the rest of the management team, to execute our strategy as we take Endo to the next level of success."

Endo Pharma 1Q Net Drops 34% On Acquisition Costs

Endo Pharmaceuticals Holdings Inc.'s (ENDP) first-quarter net income fell 34% on acquisition costs, though excluding them results topped expectations.

In January, Endo said it was expanding beyond pain management into urology, endocrinology and primary-care opportunities by buying Indevus for up to $637 million. The deal, closed during the quarter, is part of a global consolidation wave in the pharmaceutical industry as companies try to diversify so they can cope with the economic downturn and the unpredictability of drug development.

The company reported net income of $39 million, or 33 cents a share, from $59.5 million, or 44 cents a share, a year earlier. Excluding acquisition-related and other costs, earnings rose to 67 cents from 51 cents.

Net sales increased 16% to $335.3 million as generics nearly doubled.

Analysts surveyed by Thomson Reuters predicted earnings of 63 cents a share on revenue of $338 million.

Sales of Lidoderm, used for post-shingles pain, fell 5%, while the post-operation painkiller Percocet had a 6% increase.

Shares of Endo, which reiterated its 2009 forecast, closed at $18.26 Tuesday and weren't active premarket. The stock is down 29% this year.