Monday, June 10, 2013

Endo Implodes

Last week, Endo Health Solutions said two of its top officers were leaving, no explanations offered. Today, we have a possible reason: the wholesale restructuring of the company. A few months after CEO Rajiv De Silva took the reins, Endo says it will lay off 15% of its workforce, cut $325 million in annual costs and "explore strategic options" for its HealthTronics business and early-stage pharma R&D programs.

Read more: Endo to cut 700 jobs, review asset sales in major restructuring - FiercePharma
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