Horizon and other inverted companies are using their new, lower tax rates to turbocharge corporate takeovers. The complex deal structure will create a new Irish holding company, which will own both Endo and Paladin, to take advantage of Ireland's low tax rates.
In 2021, New York Attorney General Letitia James filed a lawsuit against Endo and several other opioid manufacturers for their alleged contribution to the opioid epidemic in New York. It was the first time that the FDA had "taken steps to remove a currently marketed opioid pain medication from sale due to the public health consequences of abuse." Opana has been linked to outbreaks of HIV, hepatitis C and serious blood disorders. Food and Drug Administration (FDA) released a press statement in which it announced that it requested Endo to withdraw its opioid drug, oxymorphone hydrochloride (Opana ER), from the market. Its 10-K statement indicates that a majority of the company's US revenue in 2016 was derived from the sale of prescription pain killers, predominantly opioids. Opioids Įndo is one of the companies named in lawsuits by the states of Ohio, Missouri and Mississippi as responsible for the US opioid epidemic. On AugEndo International Plc filed for Chapter 11 bankruptcy protection after reaching a $6 billion deal with some of its creditors. In 2022, Endo's stock fell below $1 as the company faced restructuring of its $8 billion of debt. However, Teva prevailed in this acquisition with a substantially higher bid. In early 2014, Endo sought to acquire NuPathe, a speciality pharmaceutical developer, for $105 million. In 2018, Endo settled over 1,200 lawsuits related to its testosterone replacement therapy, Testim, and its undisclosed side effects. In 2015, Endo acquired the specialty generics and sterile injectables company Par Pharmaceutical for $8.05 billion. In October 2014, Endo said it would buy Auxilium Pharmaceuticals for $2.6 billion along with its testosterone replacement therapy products. they could afford to pay more to acquire U.S. In July 2015, The Wall Street Journal noted Endo was using Ireland's lower tax rate to acquire U.S.–based life sciences firms and relocate them to Ireland's tax regime (i.e. Įndo used the 2013 acquisition of Paladin Labs, and Canadian tax laws, to execute a corporate tax inversion to Ireland. In November 2013, Endo agreed to purchase Paladin Labs Inc for about $1.6 billion to gain access to the Canadian market as well as expand into emerging markets. The company entered the male hypogonadism market later in 2010 with Fortesta 2% gel. In 2009, Endo bought Indevus Pharmaceuticals to diversify into endocrinology and oncology. Often, distortions to Quarterly EPS Growth Trends can be due to one-time events, but they can also define material changes to a company’s ability to bring sales to the bottom line, the demand for goods and services, or the operating efficiency of the company itself.See also: Corporation tax in the Republic of Ireland § Corporate tax inversionsĮndo was created as a result of a management buyout from DuPont Merck in 1997 led by Carol Ammon. Therefore, when observing Quarterly Growth Rate trends, if anomalies are shown in the chart, we encourage investors to conduct a level of due diligence before drawing conclusions. This does not reflect revenue, and although we do our best to exclude one-time events, changes in EPS may be due to conditions that will not repeat. With a focus on growth trends over time, the quarterly observations help us understand how the company is doing now, versus past EPS cycles. This helps us distill the nuances that often accompany seasonal sales cycles.
Our Quarterly Growth Rate observations are a derivative of the reported EPS from the company every quarter, but we use a Trailing Twelve Month (TTM) observation. The Quarterly Growth Rate for Auxilium Pharma (AUXL) helps us visualize growth trends.
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