Endo International plc is an American Irish-domiciled generics and specialty branded pharmaceutical company that generated over 93% of its 2017 sales from the U.S. healthcare system. While Endos management, operations, and customers are almost exclusively U.S.–based, in 2013 Endo executed a corporate tax inversion to Ireland to avoid U.S. corporate taxes on their U.S. drug sales, and to avail of Irelands corporate tax system. History and Acquisitions
Endo was created as a result of a management buyout from DuPont Merck in 1997 led by Carol Ammon.In 2009, Endo bought Indevus Pharmaceuticals to diversify into endocrinology and oncology. The company entered the male hypogonadism market later in 2010 with Fortesta 2% gel. In November 2013, Endo agreed to purchase Paladin Labs Inc for about $1.6 billion to gain access to the Canadian market as well as expand into emerging markets.Endo used the 2013 acquisition of Paladin Labs, and Canadian tax laws, to execute a corporate tax inversion to Ireland. In July 2015, The Wall Street Journal noted Endo was using Irelands lower tax rate to acquire U.S.–based life sciences firms and relocate them to Irelands tax regime (i.e. they could afford to pay more to acquire U.S. competitors).In October 2014, Endo said it would buy Auxilium Pharmaceuticals for $2.6 billion along with its testosterone replacement therapy products.In 2015, Endo acquired the specialty generics and sterile injectables company Par Pharmaceutical for $8.05 billion.In 2018, Endo settled over 1,200 lawsuits related to its testosterone replacement therapy, Testim, and its undisclosed side effects.
In 2019, city attorney Elizabeth Greenwood revealed that she, too, was infected with typhus as a result of a flea bite at her office in Los Angeles City Hall. Pasadena also experienced a sudden uptick in typhus with 22 cases in 2018 but, without being able to attribute this to one location, the Pasadena Public Health Department did not identify the cases as an "outbreak". == References ==