It was the first time that the FDA had "taken steps to remove a currently marketed opioid pain medication from sale due to the public health consequences of abuse." Opana has been linked to outbreaks of HIV, hepatitis C and serious blood disorders. Food and Drug Administration (FDA) released a press statement in which it announced that it requested Endo to withdraw its opioid drug, oxymorphone hydrochloride (Opana ER), from the market. Its 10-K statement indicates that a majority of the company's US revenue in 2016 was derived from the sale of prescription pain killers, predominantly opioids. Opioids Įndo is one of the companies named in lawsuits by the states of Ohio, Missouri and Mississippi as responsible for the US opioid epidemic. On AugEndo International Plc filed for Chapter 11 bankruptcy protection after reaching a $6 billion deal with some of its creditors. In 2022, Endo's stock fell below $1 as the company faced restructuring of its $8 billion of debt. However, Teva prevailed in this acquisition with a substantially higher bid. In early 2014, Endo sought to acquire NuPathe, a speciality pharmaceutical developer, for $105 million. In 2018, Endo settled over 1,200 lawsuits related to its testosterone replacement therapy, Testim, and its undisclosed side effects. In 2015, Endo acquired the specialty generics and sterile injectables company Par Pharmaceutical for $8.05 billion. In October 2014, Endo said it would buy Auxilium Pharmaceuticals for $2.6 billion along with its testosterone replacement therapy products. they could afford to pay more to acquire U.S. In July 2015, The Wall Street Journal noted Endo was using Ireland's lower tax rate to acquire U.S.–based life sciences firms and relocate them to Ireland's tax regime (i.e. Įndo used the 2013 acquisition of Paladin Labs, and Canadian tax laws, to execute a corporate tax inversion to Ireland. In November 2013, Endo agreed to purchase Paladin Labs Inc for about $1.6 billion to gain access to the Canadian market as well as expand into emerging markets. The company entered the male hypogonadism market later in 2010 with Fortesta 2% gel. In 2009, Endo bought Indevus Pharmaceuticals to diversify into endocrinology and oncology. With a sterile manufacturing facility located in Rochester, Michigan, Par Sterile Products possesses an unparalleled reputation for high-quality products and an impeccable record of regulatory compliance.See also: Corporation tax in the Republic of Ireland § Corporate tax inversionsĮndo was created as a result of a management buyout from DuPont Merck in 1997 led by Carol Ammon. Par Sterile Products develops, manufactures and markets a broad portfolio of branded and generic aseptic injectable products. Our focus is on therapeutically equivalent ANDA-based products, and others on a case-by-case basis. Par Pharmaceutical specializes in modified-released oral solid dosage forms as well as non-oral dosage forms, such as nasal sprays, inhalers, patches and other alternative drug delivery platforms. We offer high-quality, cost-effective products with the highest level of customer service. Par Pharmaceutical, a wholly owned Endo business, is a highly focused generic pharmaceutical company dedicated to delivering quality medicines to patients in need through excellence in innovation, development, manufacturing, and commercialization.
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