Oct 4 Endo Health Solutions forecast
2013 earnings below market expectations as its pain-relieving
patch Lidoderm, the company's biggest revenue driver, will face
generic competition from Sept. 15, 2013.
The company also estimated a profit of about $1.25 per share
for the third quarter ended Sept. 30, 2012, below analysts'
expectations of $1.36 per share, according to Thomson Reuters
Endo settled a lawsuit with Watson Pharmaceuticals Inc
in May allowing Watson to launch a generic version of
Lidoderm, and pay a fourth of gross profit as royalties to Endo.
It now expects 2013 profit to be between $5.20 per share and
$5.40 per share.
Lidoderm sales brought in about $228 million, or 29 percent
of Endo's total sales in the second quarter.
Analysts on average are expecting the company to post a
full-year profit of $5.51 per share.
Endo which also offers services and makes devices,
reaffirmed its 2012 guidance.
The company's shares closed at $32.43 on Wednesday on the