Endo Possesses Few Positives on the Horizon
Ongoing strong sales of Xiaflex--up 22% from a year ago--combined with better-than-expected generic drug segment growth thanks to authorized generic launches of Invanz and Colcrys led Endo’s third-quarter results to modestly outperform our expectations. The product mix shift from the lower-margin authorized generic launches weighed on gross margin, but management raised its year-end outlook. Endo also published encouraging top-line phase 3 clinical trial results for Xiaflex in treating cellulite...
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