This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Endo 3Q Profit Falls On Indevus Buyout Costs

CHADDS FORD, Pa. (AP) ¿ Drug developer Endo Pharmaceuticals Holdings Inc. said Thursday its third-quarter profit plunged on charges mainly related to the buyout of Indevus Pharmaceuticals Inc.

Net income dropped 25 percent to $49.4 million, or 42 cents per share, from $66 million, or 55 cents per share, during the same period a year prior. Revenue rose 14 percent to $361 million from $316.8 million.

Excluding charges mainly related to Indevus, the company earned 63 cents per share in the latest quarter. In February, the company paid $370 million for Lexington, Mass.-based Indevus.

Analysts polled by Thomson Reuters expected profit of 64 cents per share on revenue of $365.3 million.

Sales of the Lidoderm pain patch dipped less than 1 percent to $193 million, while sales of the pain drugs Opana and Opana ER rose 42 percent to $59 million. Revenue from the painkiller Percocet was flat at $31 million.

Generic drug sales, meanwhile, edged up less than 1 percent to $23 million.

The company raised its 2009 forecast for adjusted profit to a range of $2.67 to $2.73 per share, up from a prior range of $2.59 to $2.67 per share. It now expects revenue between $1.44 billion and $1.47 billion, up from a previous forecast of $1.39 billion to $1.44 billion.

Analysts expect full-year profit of $2.71 per share on revenue of $1.45 billion.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,057.40 +44.51 2.21%
NASDAQ 4,743.2230 +98.9110 2.13%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs