Endo International (ENDP) reported Q4 2018 revenue of $786.39 million and non-GAAP eps of $0.75. The company beat on revenue by $47.87 million. It beat on non-GAAP EPS but missed on GAAP EPS. The company is making the transition from dependence on pain-related drugs and generics to value-added products with higher margins:

Moving to slide 3, approximately two years ago, we outlined a strategic vision for Endo and laid out our key strategic priorities. We articulated a clear vision in which we aspire to be a highly focused generics and specialty branded company, delivering quality medicines to patients in need through excellence in development, manufacturing and commercialization. We also told you that this represented a multi-year turnaround plan.

I am proud of the significant progress that we’ve made towards our goal. To recap, we simplified our company through centralization and unification and these actions have also served to drive productivity improvements …

We transformed our legacy US branded pharmaceutical business, focused on pain into a highly focused US branded specialty pharmaceutical business with best in class commercial capabilities. We divested non-core assets and businesses and we repositioned our US generics business by executing a comprehensive product portfolio and manufacturing footprint rationalization initiative.

The transformation is paying dividends. Endo’s Q4 2018 results were nothing short of remarkable. The company’s $786 million in revenue was up 2% Y/Y. This is even more positive given that generic drug competitors like Mylan (MYL) and Teva (TEVA) experienced revenue declines during the quarter. Endo shot the lights out in Q4. Read more:


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