Endo’s Operational and Financial Turbulence Continues in Second Quarter
We anticipate a reduction in our fair value estimate for Endo based on a few factors, primarily the company’s increased $775 million accrual for settling vaginal mesh litigation. The increased payments through 2019 leaves little room for reducing financial leverage, which should remain over 4.5 times EBITDA by end on a net basis. We also plan to adjust our model for asset sales and the discontinuation of 15 products in the generics segment on closure of facilities in Alabama. Management also pre...
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