Endo International slumps on report of debt-restructuring talks

Endo International

18/05/2022 17:20

** Drugmaker's shares  ENDP.O  fall ~11.8% to $1.02
    ** Co has started negotiations with its lenders and senior
bondholders about possible restructuring of more than $8 bln in
debt, the Wall Street Journal reported, citing people familiar
with the matter  urn:newsml:reuters.com:*:nFWN2XA0TT
    ** Lenders initiated discussions after ENDP reported sharp
drop in quarterly earnings earlier this month - report
    ** ENDP did not immediately respond to a Reuters request for
comment
    ** Co also forecast Q2 sales of $500 mln - $525 mln, below
Refinitiv IBES estimates of $655.6 mln, hurt by competition for
co's blood pressure drug Vasostrict  urn:newsml:reuters.com:*:nL3N2WY2CR    
    ** ENDP shares have lost nearly ~72% YTD

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))