Endo Health Solutions Inc. (ENDP) is in talks with drug makers
about selling itself, Reuters reported, citing people familiar with
the matter.
Shares were recently 9% higher at $31.23 after tripping a
single-stock circuit breaker. The stock is down 13% over the last
12 months.
The exploratory talks include Warner Chilcott PLC (WCRX) and
Valeant Pharmaceuticals International Inc. (VRX, VRX.T), but there
is no official auction process underway and discussions are at a
preliminary stage, according to the report.
A representative for Endo declined to comment to Dow Jones,
while Warner Chilcott and Valeant didn't immediately respond to
requests for comment.
Earlier this month, Endo Health lowered its 2013 guidance,
saying it expects higher charges related to its core painkiller
franchise and generic-drug business.
Full story:
http://www.reuters.com/article/2013/01/30/us-endohealth-sale-idUSBRE90T19020130130
Write to Hot Stocks at hotstocks@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires