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news.Endo Pharmaceuticals has revealed robust results for the second quarter with net income increasing to $57.6 million compared with $49 million for the same period last year.
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Net sales for the second quarter increased to $228 million compared with $196.4 million in the second quarter of 2005. Diluted earnings per share for the three months ended June 30, 2006 were $0.43 compared with $0.37 in 2005.
A major driver of the company’s increased profits was strong sales of its painkiller patch Lidoderm. Net sales of Lidoderm were $140.8 million versus $100.5 million in the same period a year ago, with prescription growth up 20%.
“Our strong financial performance complements other significant accomplishments for Endo during the second quarter of 2006, in particular the FDA approval of both Opana and Opana ER and the commercial launch of Synera,” said Peter Lankau, president and CEO.
The company reaffirmed its overall guidance for 2006 and continues to expect net sales for the year to be approximately $880 to $910 million.