Endo International plc is reporting second quarter 2014 revenues of $719 million – up 1 percent over the 2013 $712 million figure.

“Endo delivered strong performance across each of our business segments in the second quarter,” said Rajiv De Silva, president and CEO.

“We had organic growth in our core products, advanced our pipeline and supplemented our growth through strategic additions. As a result of our performance, we are raising financial guidance for full-year 2014. More importantly, our strong financial results support our continued pursuit of organic growth drivers, and strategic external growth opportunities where we see a clear case for value-creation for our shareholders.”

Endo reported net income of $21 million in the second quarter 2014 compared to net income of $35 million in the second quarter of 2013.  Adjusted net income for the three months ended June 30, 2014 increased by 4 percent to $174 million, compared to adjusted net income of $166 million for the second quarter of 2013.

Endo says it is also seeing positive top-line results from patient studies of BEMA® buprenorphine.  Endo met with the FDA and plans to file a new drug application for BEMA buprenorphine by late 2014 or early 2015. The drug is being developed to manage pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate.

Second quarter 2014 branded pharmaceutical revenues did see a 40 percent decrease primarily due to loss of market exclusivity of LIDODERM sales. This was partially offset by $13 million in royalty revenues in a settlement with Watson, now doing business as Actavis, Inc.  Voltaren Gel sales were up 7 percent in the second quarter, while sales of OPANA ER decreased by 7 percent. Device sales were stable.

During the quarter Endo acquired DAVA Pharmaceuticals, Inc. for $575 million, enhancing the firm’s commercialization and development platform. In June the company announced the placement of $750 million of 5.375 percent Senior Notes due 2023.  Endo intends to use the net proceeds from the offering for general corporate purposes which may include acquisitions.

Endo’s U.S. headquarters are in Malvern.

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