Endo ... watching just for funIt is for no other reason than for "fun" that we watch the demise of Paladin's acquirer - Endo.
Also ... to see if GUD makes any kind of play for their 69 Canadian drugs. The price is likely not right - but - fun to watch anyway.
It was obvious back then that using debt to run a series of acquisitions was not a good idea for the long-term.
The market cap of Endo is now $332M and debt totals approximately $8 Billion ... Seeking Alpha may have been on to something in their comments back in August 2021 ...
- With a weak balance sheet, lingering opioid lawsuits and the upcoming threat of a generic vasopressin competitor, the likelihood of a bankruptcy announcement in the coming months is high.
Endo has been fighting hard - but for how long? The opioid crisis will surely do them in. Did Seeking Alpha make the right call? Will see.
With the recent announcement of the hiring of a restructuring adviser, I believe Endo is likely on its last legs and will follow the path of its peer, Mallinckrodt (MNK), i.e. into Chapter 11 bankruptcy filing.