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Endo Pharmaceuticals Reports First Quarter 2009 Financial Results
Date:4/29/2009

CHADDS FORD, Pa., April 29 /PRNewswire-FirstCall/ -- Endo Pharmaceuticals (Nasdaq: ENDP) today reported financial results for the first quarter of 2009, including results beginning on February 23, 2009 for Indevus Pharmaceuticals, which Endo acquired during the quarter.

Net sales during the first quarter of 2009 increased 16% to $335.3 million compared with $290.3 million in the first quarter of 2008. Net income for the three months ended March 31, 2009 was $39.0 million compared with $59.5 million in the comparable 2008 period. As detailed in the Supplemental Financial Information below, adjusted net income for the three months ended March 31, 2009 was $79.0 million compared with $68.2 million in the same period in 2008.

Diluted earnings per share for the three months ended March 31, 2009 were $0.33 compared with $0.44 in the first quarter of 2008. Adjusted diluted earnings per share for the three months ended March 31, 2009 were $0.67 compared with $0.51 in the same period in 2008.

"We had a solid first quarter during which we diversified our commercial business beyond pain management, reorganized our sales and marketing and R&D groups, and repositioned our company for sustainable future growth," said Dave Holveck, president and chief executive officer of Endo Pharmaceuticals. "I believe our broader therapeutic focus on urology and oncology and more capable specialty infrastructure will enable us to meet aggressive long-term growth targets and adapt quickly to a changing healthcare environment."

Selected Product Review

PAIN PRODUCTS

LIDODERM(R): For the quarter ended March 31, 2009, net sales of LIDODERM decreased 5% to $171.6 million compared with $180.5 million in the same period a year ago. Prescription volume for LIDODERM decrease
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SOURCE Endo Pharmaceuticals
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