Specialty-drug maker and IBD 50 stock Endo International (ENDP) beat Wall Street’s Q2 expectations Monday, but didn’t change its guidance as it digests a major acquisition. Endo earnings from continuing operations rose 21% over the year-earlier quarter to $1.08 a share, beating analysts’ consensus by 6 cents, according to Thomson Reuters. Revenue increased 24% to $735 million, about $7 million above consensus. The company left in place its
Aspiring specialty-drug giant Endo International (ENDP) agreed to buy major generic drugmaker Par Pharmaceutical Holdings for $8.05 billion Monday, a deal Endo says will make it one of the top five generic-drug makers in the world. Investors were a bit nervous, however, and Endo was down 2% in early trading in the stock market today. Endo agreed to shell out $6.5 million in cash and 18 million of its own shares to acquire Par from TPG Capital, the
Specialty-drug giant and IBD 50 stock Actavis beat Wall Street’s first-quarter estimates Monday and for the first time offered 2015 earnings guidance that included newly acquired Allergan. Highly rated Ligand Pharmaceuticals (LGND) and Endo International (ENDP) also topped EPS targets. Actavis’ (ACT) earnings rose 23% vs. a year earlier to $4.30 a share, 37 cents above analysts’ consensus, according to Thomson Reuters. Sales jumped