Endo International plc (NASDAQ: ENDP) announced that it has appointed Patrick Barry as Senior Vice President, U.S. Branded Pharmaceuticals, effective immediately; and Matthew Davis, M.D., R.Ph., as Senior Vice President, Research and Development Branded Pharmaceuticals, effective January 3, 2017.
In his new position, Mr. Barry will have responsibility for all commercial activities for U.S. Branded Pharmaceuticals, including strategy, new product planning, marketing and sales. Dr. Davis will lead the research and development activities for U.S. branded pharmaceuticals.
“We are excited to have Patrick and Matthew join Endo and I look forward to working closely with them,” said Paul Campanelli, President and Chief Executive Officer of Endo. “They bring to Endo significant experience and demonstrated track records of success in their respective areas of expertise. Importantly, both are proven leaders and have built and inspired strong teams that have consistently exceeded performance expectations. We look forward to their success at Endo.”
“I’m pleased to have joined Endo at such a pivotal time and look forward to maximizing the potential of our people, specialty assets and established brands to drive growth,” said Mr. Barry.
“I began my career nearly 20 years ago at Endo on the team that aided in the development, helped to gain approval and launch Lidoderm. I couldn’t be more thrilled to be back at the Company to utilize my collective experience and lead the branded R&D team,” added Dr. Davis.
Prior to joining Endo, Mr. Barry worked at Sanofi for over two decades, holding roles of increasing responsibility in areas such as Sales Leadership, Commercial Operations, Marketing, Launch Planning, and Training and Leadership Development. Most recently, he served as the General Manager and Head of North America General Medicines, and prior to that he was the Vice President and Head of U.S. Specialty. During this time, Mr. Barry oversaw three complex and diverse businesses with responsibility for leading sales and marketing activities for branded and generic products across the U.S. and Canada. Mr. Barry has an MBA from Cornell University, Johnson School of Management and a BA in Public Relations and Marketing from McKendree University.
Prior to rejoining Endo, Dr. Davis served as the Chief Medical Officer of Lupin Pharmaceuticals, Inc. and previously at URL Pharma, where he spearheaded 5 NDA approvals, and received 21 U.S. patents. Dr. Davis has an extensive, multi-disciplinary expertise in drug development, device development, and lifecycle management across a broad range of therapeutic areas. These include Aesthetics, Dermatology, Neurology, Oncology and Rheumatology. He has held various leadership roles at other pharmaceutical companies in research and development, leading clinical development, clinical operations, medical affairs, and pharmacovigilance.
Dr. Davis matriculated at the University of Pennsylvania, and then obtained his pharmacy degree from Temple School of Pharmacy. He subsequently received his medical degree from the Medical College of Pennsylvania. Dr. Davis received his surgical training at Brown University and his urology training at Washington Hospital Center.
Under Endo’s new unified operating model, global supply chain, manufacturing, global quality and R&D will provide support for both the Branded and Generics businesses and will report to Terrance Coughlin, Executive Vice President and Chief Operating Officer.
In light of the significant organizational restructuring that has taken place at Endo, Joseph Ciaffoni, President U.S. Branded Pharmaceuticals, has elected to leave the Company.
Additionally, Dr. Susan Hall, Executive Vice President, Chief Scientific Officer and Global Head of R&D, will depart the Company effective March 31, 2017. In the interim, Dr. Hall will assist with the transition and as serve as an advisor. Following her departure, she will continue to provide consultative services to Endo in connection with the development of XIAFLEX for cellulite following the Company’s recent announcement of positive Phase 2b data. “Sue has been an asset to Endo and her many contributions to progress the R&D organization and gain product approvals are appreciated by me and the entire organization. We are happy to have her continuing with us in a consultative role and wish her well in her next endeavor,” added Mr. Campanelli. (Original Source)
Shares of Endo International closed yesterday at $21.38, down $1.15 or -5.10%. 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 $16.31 and its 200-day moving average is $18.56.
On the ratings front, Endo International 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 112% 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 10.6% and a loss of -1.4% respectively. Ellis has a success rate of 53% and is ranked #1111 out of 4291 analysts, while Archila has a success rate of 33% and is ranked #2938.
Sentiment on the street is mostly neutral on ENDP stock. Out of 9 analysts who cover the stock, 5 suggest a Hold rating and 4 recommend to Buy the stock. The 12-month average price target assigned to the stock is $28.67, which implies an upside of 79% from current levels.
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.