Stock Update on Endo Pharmaceuticals (NASDAQ: ENDP)

Endo Pharmaceuticals are currently trading at $23.94, which is the same as Friday’s closing price. The company shares opened at $23.2813 on Friday reached its daily high of $24.07 before settling at $23.940 at the end of the day. The company has a 52 week price range of $19.11 and $24.85, along with a 50 day moving average of $21.95 and 200 day moving average of $22.02. The sustenance and resistance levels of Endo Pharmaceuticals are $23.45 and $24.88. 

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Endo Pharmaceuticals which specializes in development of drugs relating to pain management celebrated its 10^th anniversary as a publicly listed company. The company is expected to announce its second quarter 2010 financial results on July 30^th, 2010. Endo Pharmaceuticals earlier this month announced the acquisition of urology company Health Tronics Ltd., for $223 million. The company has agreed to take over $35 million debt of Health Tronics as a part of the deal. Health Tronics Ltd, which is based out of Austin, Texas, is currently de-listed and is now a part of Endo Pharmaceuticals.

Health Tronics Ltd is engaged in providing healthcare services and manufacture medical devices for diseases based around urology problems. The company products include treatment for enlarged prostate and prostate cancer. Health Tronics currently provides lithotripsy services through limited partnerships and other entities it manages, which use lithotripters. As of December last year, over 50,00 procedures in the United States were performed using lithotripters by physicians affiliated to the company. Endo Pharmaceuticals

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Holdings Inc., through its holding company Endo Pharmaceutical Inc., specialises in providing drugs and services relating to pain management. The company is engaged in research, development, manufacturing, marketing and sales of generic drugs used in the United States. The company’s portfolio of prescription products are used to treat and manage pain relating to overactive bladder, prostate and bladder cancer and central precocious puberty.

The acquisition of Health Tronics Ltd, by Endo Pharmaceuticals Inc, shows the company’s willingness to diversify beyond pharmaceuticals and its commitment to the field of urology. Dave Holveck, president and CEO of Endo Pharmaceuticals said ‘Urology practices, the patients they serve and payers will all benefit from the integration of Endo Pharmaceuticals and Health Tronics Ltd, through the combined expertise, products and services’.

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