MALVERN, PA — Endo, Inc. (OTCQX: NDOI) recently reported its financial results for the second-quarter ending June 30, 2024, marking a significant phase in its growth strategy. Following its acquisition of Endo International plc’s assets in April 2024, Endo is setting a course for renewed expansion and increased financial expectations for the full year.
In Q2 2024, Endo’s total revenues reached $447 million, a decrease from $547 million in Q2 2023, mainly due to declines in the Generic Pharmaceuticals and Sterile Injectables segments. However, the Branded Pharmaceuticals segment saw a 6% increase, generating $225 million, driven by products like XIAFLEX®, which grew by 8% to $127 million.
The company posted a net income of $6,379 million, a sharp rise from $23 million in the previous year, largely due to the implementation of its reorganization plan. Adjusted net income was $105 million, down from $231 million, reflecting the revenue dip.
Looking ahead, Endo raises its 2024 revenue expectations to between $1,720 million and $1,780 million, with adjusted EBITDA projected between $635 million and $655 million. The firm expects continued growth in Branded Pharmaceuticals, while addressing challenges in the Generic and Sterile Injectables segments.
With these results, Endo is positioning itself as a dynamic growth company, leveraging strategic acquisitions and strong segment-specific performances to enhance shareholder value.
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