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UPDATE 1-Endo profit beats on strong sales of generic drugs
May 9, 2017 / 11:03 AM / in 7 months

UPDATE 1-Endo profit beats on strong sales of generic drugs

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May 9 (Reuters) - Endo International Plc reported a higher-than-expected adjusted quarterly profit, driven by strong demand for its newly launched generics as well as its branded drugs.

However, the drugmaker’s net loss attributable to shareholders widened to $173.8 million, or 78 cents per share, in the first quarter ended March 31 from $133.9 million, or 60 cents per share, a year earlier.

Excluding items such as an impairment charge of $204 million, Endo earned $1.23 per share, well above the average analysts’ estimate of $1.10 per share, according to Thomson Reuters I/B/E/S.

Total revenue rose 7.7 percent to $1.04 billion, narrowly beating estimates of $1.02 billion.

The Dublin, Ireland-based drugmaker also reaffirmed its full-year adjusted profit forecast from continuing operations of $3.45 per share to $3.75 per share on revenue of $3.45 billion to $3.60 billion. (Reporting by Divya Grover in Bengaluru; Editing by Anil D‘Silva)

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