I observe that there are a disproportionately high number of retail daytraders/swing traders on this board. Many of them bought this during or directly after the earnings, and some are even long from the mid to high 20s. Most of them have now been stopped out after suffering a loss, but there are a few stragglers holding on that have turned into grudging longs.
They even have a special tonight on with Sanjay Gupta about the growing trend of prescription drug addictions/dangers. Between that and Prince's death it seems as if doctors/patients are starting to think twice about opiod use, as evidenced by the declining sales in this sector of the market.
6.5 billion in cash and 1.5 billion in stock to buy Par Pharma from TPG - TPG had bought Par Pharm for 1.5 billion less than 3 years prior to this deal.
No wonder ENDO is in the toilet.
I know there has been a lot of negative media attention recently on opiods including all the deaths caused by them and the addictions, but why do you all think sales have been so weak? Are doctors starting to phase them out or prescribe less regularly now? I have never taken an opiod but between the addiction and the other side affects (like you need constipation medicine) it sounds miserable.
Goldman slapped a sell on this. Short interest is spiking now. This is not a good sign at all as I've learned that the shorts tend to be the sharpest investors in the mark.
I don't think the news will be good. Smart money has been bailing on this stock the past couple months as reflected in the stock price. Opiod related sales have been very weak across the board. Pharma pricing issues are a concern now and in the future. The only good thing is the expectations are low and the stock has priced some of this in already.
News is suggesting that opiods were found in Prince's safe - and the next logical shoe fall will be that Prince died to a Percocet overdose. With the debt being so sky high, that's all ENDO needs to sink it further into the toilet at this point given the aleady weak painkiller sales across the board due to all the opiod related fears.