Endo off after 3Q results, Urocidin trial discontinuation
Endo Health Solutions Inc. (NASDAQ:ENDP) fell $2.52 to $26.71 on Monday after missing the consensus 3Q12 revenue estimate, revising its full year guidance and ending a Phase III trial of Urocidin to treat non-muscle invasive bladder cancer. Endo reported revenues of $750 million, down 1% from $759 million in 3Q11 and missing the Street's estimate of $788.3 million. Net sales of pain drug Opana ER oxymorphone fell 36% to $62.2 million. The company attributed the decline to lower prescriptions, as well as a 1Q supply disruption caused by the close of a Novartis AG (NYSE:NVS; SIX:NOVN) manufacturing plant in Lincoln, Neb. Endo reported adjusted, diluted EPS of $1.28, beating by $0.02 the Street's estimate and up from $1.25 in 3Q11. Endo now expects full-year adjusted diluted EPS of $5-$5.10, compared to previous guidance of $5-$5.20, and 2012 revenues of about $3.05 billion, compared to previous guidance of $3.05-$3.18 billion. ...