Things are starting to look up for Endo International (ENDP). Last month Citigroup (C) upgraded the company to “buy” and highlighted Endo’s “next big opportunity.” Recently Endo announced it had entered into an agreement with Takeda Pharmaceuticals (OTCPK:TKPYY) to ship a generic version of Takeda’s Colcrys:
Endo International plc (NASDAQ: ENDP) announced today that one of its operating companies, Par Pharmaceutical, Inc. (Par), has begun shipping an authorized generic version of Takeda Pharmaceutical’s Colcrys® (colchicine, USP) 0.6 mg tablets. Endo’s subsidiary, Endo Ventures Limited, entered into an exclusive U.S. supply and distribution agreement with Takeda Pharmaceuticals U.S.A., allowing Par to launch and distribute an authorized generic of the product.
Colcrys (colchicine, USP) 0.6 mg tablet is indicated for prophylaxis and treatment of gout flares in adults and familial Mediterranean fever (FMF) in adults and children 4 years or older. Shocking The Street, a premium investment service the Shock Exchange runs in conjunction with Seeking Alpha, believes the distribution deal is bullish for two reasons. Read more: