Endo International plc – Ordinary Shares (NASDAQ:ENDP) announced that one of its operating companies, Par Pharmaceutical, has begun shipping ezetimibe 10 mg tablets, the generic version of Merck’s ZETIA®. Par Pharmaceutical is the marketer and distributor of the product in the U.S., and is entitled to Hatch-Waxman generic marketing exclusivity based on the first-to-file ANDA status of its licensing partners, Glenmark Pharmaceuticals, Inc., USA, with whom Par will share profits.

“We, along with our partners at Glenmark, are proud to be able to offer patients managing their cholesterol levels the first generic version of ZETIA®,” said Tony Pera, President of Par Pharmaceutical. “Par remains committed to providing patients access to high quality and affordable medicines.”

“Glenmark has a deep heritage of bringing safe, effective and affordable medicines to patients around the world,” said Robert Matsuk, President of North America and Global API. “Our partnership with Endo to bring the first generic version of ZETIA® to market only underscores our joint commitment to bridging the gap between patients and the medicines they need most.”

ZETIA® is indicated for use along with a healthy diet to reduce elevated LDL cholesterol in patients with hyperlipidemia.

According to IMS Health data, U.S. sales of ZETIA® are approximately $2.614 billion for the 12 months ended September 30, 2016. (Original Source)

Shares of Endo closed last Friday at $15.64, down $0.01 or -0.06%. ENDP has a 1-year high of $63.63 and a 1-year low of $12.56. The stock’s 50-day moving average is $17.13 and its 200-day moving average is $18.61.

On the ratings front, ENDP stock has been the subject of a number of recent research reports. In a report issued on December 9, JMP analyst Donald Ellis reiterated a Buy rating on ENDP, with a price target of $34, which represents a potential upside of 117% from where the stock is currently trading. Separately, on December 8, Oppenheimer’s Derek Archila reiterated a Hold rating on the stock .

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Donald Ellis and Derek Archila have a yearly average return of 8.7% and 0.2% respectively. Ellis has a success rate of 42% and is ranked #1298 out of 4273 analysts, while Archila has a success rate of 50% and is ranked #2773.

Overall, 5 research analysts have assigned a Hold rating and 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $28.67 which is 83.3% above where the stock closed last Friday.

Endo International Plc operates as a pharmaceutical company. It focuses on developing, manufacturing, and distributing of branded and generic pharmaceutical products. It operates through the following segments U.S. Branded Pharmaceuticals, U.S. Generic pharmaceuticals, Devices, and International Pharmaceuticals. The U.S. Branded Pharmaceuticals offers products that focus on the treatment and management of conditions in urology, urologic oncology, endocrinology, and orthopedics. The U.S. Generic pharmaceuticals segment consist of a differentiated product portfolio including high-barrier-to-entry products, first-to-file or first-to-market opportunities that are difficult to formulate, difficult to manufacture or face complex legal and regulatory challenges. The Devices segment offers medical devices that deliver innovative medical technology solutions to physicians treating female incontinence and pelvic floor repair. The International Pharmaceuticals segment includes a variety of pharmaceutical products for the Canadian, Latin American, South African, and world markets.