Specialty drugmaker Endo International (ENDP) beat analysts’ Q4 estimates and announced the $1.65 billion sale of its urology-device business Monday, sending the stock to a new high. Endo said earnings rose 21% over the year-earlier quarter to $1.16 a share, beating analysts’ consensus by 4 cents, according to Thomson Reuters. Revenue climbed 37% to $800 million, about $20 million above consensus. For the year, sales rose 10% to $2.88 billion,
Endo International inked a deal to buy fellow specialty drugmaker Auxilium Pharmaceuticals Thursday after raising its initial bid by nearly 20% to $2.6 billion in cash and stock, or $33.25 a share. Auxilium’s shares rose 9% to 32.44, while Endo’s stock fell 5.9% to 66.78. Endo (ENDP) first approached Auxilium (AUXL) in mid-September, and on Sept. 16 it announced a $2.2 billion offer, sending Auxilium’s stock up nearly 45% the next day. Auxilium
Auxilium Pharmaceuticals’ (AUXL) board said Monday that a $2.2 billion takeover offer from Endo International “significantly undervalues” the company. But the specialty-drug maker stopped short of an outright rejection of the unsolicited takeover bid from Endo (ENDP) and left open a chance of further discussions on a potential deal. Auxilium stock was nearly flat on the stock market today on the news, while Endo’s was down over 2.5%. Chesterbrook,