June 5 Endo Health Solutions Inc said
it plans to cut about 15 percent of its global workforce and
will explore strategic alternatives for two units as the company
looks to reduce about $325 million in annual operating expenses.
The company is evaluating strategic alternatives for its
HealthTronics business, which provides urological products and
services, and for its early stage pharmaceutical products.
Endo also cut its full-year forecast and now expects
adjusted earnings per share of $4.10 to $4.40 on total revenue
of $2.65 billion to $2.80 billion. The company last month said
it expected adjusted earnings per share of $4.40 to $4.70 and
revenue of $2.80 billion to $2.95 billion.
Analysts on average expect full-year earnings of $4.27 per
share on revenue of $2.80 billion, according to Thomson Reuters
Endo had about 4,629 employees worldwide as of Feb. 20,
according to a March 1 filing.
Shares of the company rose marginally in post-market trading
after closing at $35.96 on the Nasdaq on Wednesday.