CHADDS FORD, Pa., May 29 /PRNewswire-FirstCall/ -- Endo Pharmaceuticals (Nasdaq: ENDP) announced today that the company is granting Alan Levin a sign-on award of 43,500 restricted stock units and an option to purchase 80,000 shares of Endo common stock in connection with his appointment as Endo's executive vice president and chief financial officer. These grants are being made outside of the Endo 2007 stock incentive plan but are subject to the terms and conditions of the plan with a ten-year term and four-year vesting. The option exercise price will be equal to the closing price of Endo's common stock on June 1, 2009, the first day of Mr. Levin's employment with the company.
Endo Pharmaceuticals is a specialty pharmaceutical company engaged in the research, development, sale and marketing of branded and generic prescription pharmaceuticals used to treat and manage pain, overactive bladder, prostate cancer and the early onset of puberty in children, or central precocious puberty (CPP). Its products include LIDODERM(R), a topical patch to relieve the pain of postherpetic neuralgia; PERCOCET(R) and PERCODAN(R) tablets for the relief of moderate-to-moderately severe pain; FROVA(R) tablets for the acute treatment of migraine attacks with or without aura in adults; OPANA(R) tablets for the relief of moderate-to-severe acute pain where the use of an opioid is appropriate; OPANA(R) ER tablets for the relief of moderate-to-severe pain in patients requiring continuous, around-the-clock opioid treatment for an extended period of time; VOLTAREN(R) GEL, a nonsteroidal anti-inflammatory drug indicated for the relief of the pain of osteoarthritis of joints amenable to topical treatment, such as those of the hands and the knees; SANCTURA(R) and its XR version for treatment of overactive bladder; VANTAS(R) for the palliative treatment of advanced prostate cancer; and SUPPRELIN(R) LA for the treatment of early onset puberty in children. The company markets its branded pharmaceutical products to physicians in pain management, neurology, surgery, oncology, and primary care. More information, including this and past press releases of Endo Pharmaceuticals, is available at www.endo.com.
|SOURCE Endo Pharmaceuticals|
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