Wednesday, December 29, 2010

Endo Pharmaceuticals' (NASDAQ:ENDP) Fortesta, Opana ER, Should Stabilize Company

Endo Pharmaceuticals (NASDAQ:ENDP) should be driven strongly on the approval of Fortesta and Opana ER, bringing stability to the overall business, according to Duncan Williams.

They said, "We remain bullish on the two pending catalysts for Fortesta (testosterone replacement) and 'crush-proof' Opana ER (pain). We believe that approval of these products should provide reassurance regarding management's execution and the stability of the overall business. We have also updated our model for the Qualitest acquisition, the latest IMS data, and the updated guidance. Our 2010 estimates are meaningfully above Consensus."

Duncan Williams maintains a "Strong Buy" on Endo Pharmaceuticals Holdings Inc., which closed Tuesday at $35.21, down $0.29, or 0.82 percent. Duncan has a price target of $46 on them.

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