Endo Pharmaceuticals Inc.: NASDAQ: ENDP--$10.07: rating: buy. (Jefferies).

Publication: Buyside

Publication Date: 01-APR-03

Bookmark this article Print this article Link to this article Email this article Digg It! Add to del.icio.us RSS

COPYRIGHT 2003 Adams Business Media

Specialty Pharmaceuticals

Initiating Coverage--February 28, 2003

Company Description:

Endo Pharmaceuticals, based in Chadds Ford, Pennsylvania, is a specialty pharmaceutical company engaged in the research, development, sale, and marketing of branded and generic pharmaceuticals mainly targeting the pain management market. Percocet and Lidoderm are the company's leading brands, representing over 90% of prescription pharmaceutical sales.

Report Highlights:

We are initiating coverage of Endo Pharmaceuticals Holdings, Inc. with a Buy rating and $13 target price.

Established Products Will Sustain Revenue Growth. Percocet and Lidoderm have both exhibited significant growth during the past 12 months. Percocet sales increased 44% in 2002 to $145 million. In Q4-2002, the drug achieved another distinction, the fastest growing oxycodone-acetaminophen combination opioid. Lidoderm's growth trajectory has been steeper. Prescription volume has doubled in each of the past eight quarters when compared to the prior-year period. We estimate 2003 sales of Percocet and Lidoderm of $142 million...

Read the full article for free courtesy of your local library.