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 The generic drugmaker, which beat third-quarter revenue and profit
estimates, has pushed into other segments of its business, such as
medical aesthetics, to cushion the impact of large retail pharmacies
gaining more negotiating power for generics pricing.
The company expects to apply for the drug's approval in the second
half of next year to treat cellulite - a condition that causes
dimpling of the skin - in the buttocks, Endo executives said on a
post-earnings conference call with analysts.
In the trials, patients treated with the drug, CCH, showed
statistically significant levels of improvement in the appearance of
cellulite, the company said on Wednesday.
However, analysts were expecting stronger data.
"That data was viewed as mixed with a variety of views around what
the commercial opportunity could look like and whether or not Endo
should plan to launch it on its own versus sell or partner it out,"
RBC Capital Markets analyst Randall Stanicky said.
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Endo already markets the drug in a different concentration under the
name Xiaflex to treat a condition that causes painful erections as
well as a disease that hinders finger movements.
Xiaflex sales rose 22.3 percent to $64.2 million in the latest
quarter.
Endo also raised its adjusted profit forecast for the year on
Thursday.
Shares were down 2.3 percent at $15.67 in premarket trading.
(Reporting by Tamara Mathias and Manas Mishra in Bengaluru; Editing
by Sriraj Kalluvila)
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