Endo’s Revamp Signals Reversal From Previous CEO’s Diversification Strategy
This article was originally published in The Pink Sheet Daily
Formerly of Valeant, new CEO Rajiv De Silva appears to be reworking Endo in the mold of his previous company, with plans to divest its early-stage pipeline and focus on growth through business development.
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During Endo’s first quarter sales and earnings call, new CEO Rajiv De Silva said his strategic review of the specialty pharma is still underway but offered investors some initial thoughts on his plans for the company.
FDA’s Reproductive Health Drugs and Risk Management advisory committees split on whether the safety of Endo’s injectable testosterone Aveed is safe for the proposed indication, with many on both sides seeing value in the drug for patients who “have to take testosterone.”
Former Valeant President De Silva joins Endo in the midst of a challenging year for the company, as two top-selling drugs face generic competition. De Silva will need to reenergize Endo and do so quickly if he is to maintain the early favor he appears to have won from investors.