Endo Pharmaceuticals’ Q2 Revenue Increases 22%

Endo Pharmaceuticals has reported an increase in total revenue by 22% to $373.1 million for the second quarter of 2009, in comparison to $306.2 million in the second quarter of 2008.

The company has reported a total revenue of $708.4 million for the six months ended June 30, 2009, an increase, in comparison to $596.4 million for the first half of the prior year.

The company’s net income was $30 million for the three months ended June 30, 2009, in comparison to the net income of $57.1 million last year.

Endo reported a diluted earnings per share of $0.26 for the three months ended June 30, 2009, in comparison to $0.46 in the second quarter of 2008.

Dave Holveck, president and CEO of Endo Pharmaceuticals, said: Our business continues to perform well, with a solid performance for Lidoderm and strong growth in sales of Opana, Voltaren Gel and Supprelin LA. On the base of this strong foundation, we are continuing to build out our presence in urology and endocrinology, two therapeutic areas that we’ve entered, with our acquisition of Indevus Pharmaceuticals, Inc. earlier this year.

“Our new oncology/endocrinology products also performed well during the quarter, and we are very excited about the potential for our long acting testosterone injectable product. We believe that it can have an important place in testosterone replacement therapy, a market with approximately $900 million in sales last year in the US and growing at more than 20% per annum. We continue to work closely with the FDA as their regulatory review moves forward, he added.