Newly Formed Company Poised for Sustained
Growth With a Strengthened Balance Sheet, Resolved Litigation
Overhang, Diversified Portfolio of Medicines and a Deep New
Product Pipeline
MALVERN, Pa., April 23, 2024 /PRNewswire/ -- Endo, Inc. ("Endo"
or the "Company"), a newly formed entity, today announced that it
has successfully completed the previously announced acquisition of
substantially all of the assets of Endo International plc ("EIP"),
as contemplated under EIP's plan of reorganization (the "Plan").
With the Plan's effectiveness, EIP's operating assets have exited
the Chapter 11 financial restructuring process with significantly
reduced outstanding indebtedness and resolution of EIP's
pre-bankruptcy litigation overhang.
Following today's closing, Endo is poised for sustained growth
and is strategically positioned to operate with a strong balance
sheet, a broad, diversified portfolio of on-market medicines across
its four segments, a deep pipeline of innovative and differentiated
product candidates, and a highly skilled team.
"We believe Endo is well positioned to create value for our
stakeholders over the long-term as we execute on our strategic
priorities," said Blaise Coleman,
Endo, Inc.'s President and Chief Executive Officer. "In particular,
we are focused on growing our Branded Pharmaceuticals segment,
anchored by XIAFLEX®, reviving growth in our Sterile
Injectables segment through the launch of differentiated new
products, and leveraging our improved balance sheet to drive new
growth investments."
The Endo Board of Directors is comprised of seven members,
including six independent directors. A full listing of Endo's Board
members and their biographical information can be found here.
Endo is currently a privately held company but has begun the
process of listing its equity on a national stock exchange.
Mr. Coleman concluded, "I would like to extend my sincere thanks
to all of our team members. Through their passion, commitment and
hard work, we successfully moved our business forward during the
financial restructuring process while remaining focused on helping
everyone we serve live their best lives."
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities. Any offers,
solicitations or offers to buy, or any sales of securities will be
made in accordance with the registration requirements of the
Securities Act of 1933, as amended.
About Endo, Inc.
Endo is a diversified specialty pharmaceutical company boldly
transforming insights into life-enhancing therapies. Our
passionate team members collaborate to develop and deliver
these essential medicines. Together, we are committed to
helping everyone we serve live their best life. Learn more
at www.endo.com or connect with us on LinkedIn.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including, but not limited to, the statements by Mr. Coleman
and any statements relating to growth prospects, value creation,
balance sheet, litigation, product development, product pipeline,
business growth, XIAFLEX®, the Branded Pharmaceuticals and Sterile
Injectables segments, and the public equity listing. Statements
including words such as "believes," "expects," "anticipates,"
"intends," "estimates," "plan," "will," "may," "look forward,"
"intends," "guidance," "future," "potential" or similar expressions
are forward-looking statements. Because these statements reflect
Endo's current views, expectations and beliefs concerning future
events, they involve risks and uncertainties, some of which Endo
may not currently be able to predict. Although Endo believes that
these forward-looking statements and other information are based
upon reasonable assumptions and expectations, readers should not
place undue reliance on these or any other forward-looking
statements and information. Actual results may differ materially
and adversely from current expectations based on a number of
factors, including, among other things, the following: changes in
competitive, market or regulatory conditions; changes in
legislation or regulations; the ability to obtain and maintain
adequate protection for intellectual property rights; the impacts
of competition such as those related to XIAFLEX®; the timing and
uncertainty of the results of both the research and development and
regulatory processes; health care and cost containment reforms,
including government pricing, tax and reimbursement policies; the
performance including the approval, introduction and consumer and
physician acceptance of current and new products; the ability to
develop and expand our product pipeline and to continue to develop
the market for XIAFLEX® and other branded or unbranded products;
the effectiveness of advertising and other promotional campaigns;
and the timely and successful implementation of any strategic
priorities. Endo assumes no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future developments or otherwise, except as may be required under
applicable securities laws.
Copies of the Company's press releases and additional
information about the Company are available at www.endo.com or you
can contact the Company's Investor Relations Department at
investor.relations@endo.com.
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