Endo sales, profits climb in Q2
CHADDS FORD, Pa. — Profits for Endo Pharmaceutical Holdings rose to $54.6 million during second quarter 2011, up 6% from $51.5 million in second quarter 2010, the drug maker said.
Sales for the quarter were $607.5 million, compared with $396.5 million in second quarter 2010. Sales of branded drugs were $398.3 million, an 8% increase over last year, which the company attributed to better sales of the pain drug Opana ER and the joint pain drug Voltaren Gel.
Generic drug sales were $133 million, compared with $27.7 million last year, with the large increase resulting from the November acquisition of Qualitest Pharmaceuticals. Medical device and service sales were $76.3 million, of which $26.8 million came from the June acquisition of American Medical Systems.
Endo expects 2011 sales to total between $2.72 billion and $2.8 billion. This includes $1.63 billion to $1.69 billion from branded drugs, $464 million to $550 million from generic drugs and $520 million to $550 million from medical devices and services.