Endo International Plc (fka ENDPQ)

[lucky, mydog]

No body can say for sure ...

yes, they can.

...what’s going to happen until it happens

it happened.

[Renee]

ENDPQ: BK PLAN effective. All shares cancelled, exactly as 1manband stated.

https://otce.finra.org/otce/dailyList?viewType=Deletions

[hawkshaw812]

Could be I’ll give up on it when my shares are removed from my broker until then I guess we’re in fairytale land . No body can say for sure what’s going to happen until it happens .

[1manband]

You mean like pretending the shares will NOT be cancelled, and that common shareholders will get NOTHING?

Yeah, I see that delusion/lying a lot in bankrupt companies. There are always people who claim the courts are wrong and that shareholders will get something, even though the LAW proves they won't.

Endo shareholders are getting nothing. Guaranteed. It is spelled out, clear as day, in the Plan.

[hawkshaw812]

Lol some will say anything to keep from losing money

[1manband]

Common shares are being cancelled under the final bankruptcy plan. Common shareholders will receive nothing.

"On the Effective Date, each Existing Equity Interest, shall be cancelled, extinguished, and discharged, subject to applicable law, and each holder thereof shall not receive or retain any property under this Plan on account of such Existing Equity Interest."

[dazetrader]

$ENDPQ interesting link enclosed. Since Pfizer’s smoking cessation drug Chantix was recalled in 2021, Endo's subsidiary Par Pharmaceuticals has been the only one to market the product. $PFE

https://bit.ly/3R8lufh

Endo sues Zydus in attempt to block its generic version of Chantix
By Zoey Becker
Aug 11, 2023 10:45am
ChantixEndoPar PharmaceuticalZydus
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A woman snaps a cigarette in half
Smoking cessation drug Chantix hit peak sales of $1.1 billion before Pfizer recalled it due to high levels of impurities. (Daria Kulkova/Getty Images)
Since Pfizer’s smoking cessation drug Chantix was recalled in 2021, Endo's subsidiary Par Pharmaceuticals has been the only one to market the product. Now, the generics subsidiary is attempting to ward off fellow generic makers who want in on the drug.

Endo's lawsuit alleges that Zydus launched its Chantix generic, which was FDA approved in June, after Endo alerted it of a new patent but before it could file a patent infringement claim. The new patent covers the method Endo uses to manufacture the drug without the impurities that took down Pfizer's original product.

RELATED
Price of Pfizer's smoking-cessation drug Chantix doubles in just 5 years: report
Chantix was originally approved in 2006. The drug was flying high with $1.1 billion in peak sales until impurities found in the product brought it crashing down. Pfizer threw in the towel and recalled all lots in September 2021, a month after the FDA cleared Endo's generic ahead of schedule.

Now, the FDA will only accept submissions for products based on Chantix’s active ingredient, varenicline tartrate, if the drugs meet the acceptable intake limit for nitrosamine impurities. That’s what Endo did, where Pfizer and others could not, according to the Aug. 8 lawsuit filed in Delaware federal court.

“Making varenicline tartrate tablets with the low levels of nitrosamine required by the FDA is difficult to do, as evidenced by the fact that Pfizer has been unable to reformulate its Chantix product to meet those requirements despite the huge incentive it has had to do so,” reads the complaint.

Endo alleges Zydus used the methods listed in its recent patent because those are “the only commercially viable methods” that it’s aware of for ensuring low levels of nitrosamine impurities.

Zydus launched its drug instead of replying to notices sent by Endo, leaving Endo unable to verify if the two companies use the same manufacturing method but finding it "highly likely," according to the complaint.

RELATED
Troubled Endo shelves cellulite treatment Qwo, lays off 90 employees
It’s likely that Endo can’t afford the generic competition after filing for bankruptcy last August due to the weight of multiple massive opioid-related settlements and $8 billion in debt. The company planned to sell itself to its senior lender group, which would then fund Endo’s opioid settlements.

The U.S. Department of Justice recently shot down that plan on the grounds of bankruptcy law violation because it would pay some creditors while others, including government agencies, would get nothing, Reuters reported.

[1manband]

The bankruptcy is dragging because Endo is trying to cut out the IRS and the US Government of any recovery, while certain other junior creditors will receive some recovery. Under Chapter 11, that is unlikely to be lawful, so the Feds are challenging the Plan that shuffles them from their priority creditor status to one behind junior creditors.

Regardless of the outcome of that hearing on the 4th, shareholders are getting nothing. The common stock WILL be wiped out and cancelled. Guaranteed.

[dazetrader]

Do they know when the bankruptcy plan will be confirmed or executed?

[1manband]

The stock is worthless.

But the business will continue. It will just be owned by someone else once the liquidation is completed.

So of course they still publish news. They are still in business.

But current common shareholders will be wiped out.

[dazetrader]

This company still publishes news!

NEWS
THU JUL 20TH, 2023
Canada Newswire7:30 AM
Endo Announces First Patient Enrolled in Registry of Peyronie's Disease

PR Newswire7:30 AM
Endo Announces First Patient Enrolled in Registry of Peyronie's Disease

TUE JUL 18TH, 2023
Canada Newswire4:30 PM
Endo Launches Bivalirudin Injection in Ready-to-Use Vials

PR Newswire4:30 PM
Endo Launches Bivalirudin Injection in Ready-to-Use Vials

MON JUL 17TH, 2023
Canada Newswire4:30 PM
Endo and Premier, Inc. Collaborate to Address Pitocin® (oxytocin injection, USP) Shortage

https://quotes.freerealtime.com/quotes/ENDPQ/Quote

[1manband]

No, that is not happening. And I am very skeptical that a judge said that, as they have no say in it. Bankruptcy is one of the few courts where the judge's opinion of that sort has no bearing on the case.

The law is set in stone. Common shareholders are dead last in line for money. Everyone in front of them MUST be 100% satisfied in regards to what is owed to them before the shareholders can even be considered for anything.

The shareholders are not being paid anything here. The current plan is to turn the ownership of the company over to the first lein holders. Obviously, the remaining creditors have an issue with that, as they want to be paid. But either way, the common shareholders get NOTHING.

If there was any legitimate chance of shareholders being paid, the Court would be including them in these negotiations. They are not, because they ain't getting paid.

[hawkshaw812]

The judge has All ready stated it wouldn't be ethical not to give share holders some money's for there shares . How much who knows that is if the company is bought out .

I'm thinking about avrageing down with the price heading up . How about you can you buy shares threw your broker?

[1manband]

I am NOT mistaken. The common shares are almost certainly to be wiped out with no value paid to current shareholders.

Have you seen their most recent balance sheet? Shareholders Equity is a NEGATIVE $3.925 billion. That means, even assuming the assets are valued at 100% of their current worth (which they are not), shareholders are still almost $4 billion in the hole.

Shareholders are always dead last in line in a bankruptcy. In order for shareholders to get a penny, every single creditor and debtor in front of them has to have their claims 100% satisfied. With Endo, they are billions short of achieving that, which means debtors and creditors are likely to take a haircut on what they are owed, and shareholders get nothing.

That is how bankruptcy works.

The current plan is for the first lien creditors to take over ownership of the company and all its assets, with everyone else getting shafted. Common shareholders are so far down the list they haven't even been recognized by the Court because the Court knows their is really no chance they will get paid.

[hawkshaw812]

I think your mistaken

[1manband]

The company is not selling shares. Shares are still trading OTC, because the SEC and FINRA have no regulatory authority to stop public trading until after the bankruptcy is concluded and the stock is cancelled under the authority of the bankruptcy court.

Once the stock is cancelled, the stock will be worthless. Permanently.

That WILL happen. The common shares have no value.

I suggest you read the SEC's information page on public company bankruptcies.

https://www.sec.gov/reportspubs/investor-publications/investorpubsbankrupthtm.html

"In most instances, the company's plan of reorganization will cancel the existing equity shares. This happens in bankruptcy cases because secured and unsecured creditors are paid from the company's assets before common stockholders."

[hawkshaw812]

If that's the case why are they still selling shares??

[hawkshaw812]

Don't work that way in ut .

[1manband]

That is not how Bankruptcy Law works.

They are IN bankruptcy right now. Once you are in it, you have to go through with it. You just can't back out later and say "sorry, we didn't mean it".

Endo has to go through with it. An offer has been made for the assets, and that offer is binding. It is also for much less than Endo owes, which means creditors will not be paid back in full and therefore common shareholders get nothing.

In the future, I suggest you learn how bankruptcy REALLY works and not how amateurs on the internet pretend it does.

[hawkshaw812]

Yes sir but the big question here is will they follow threw with the bankruptcy or use it to settle the law suits. If the bankruptcy goes threw the the suits will be dismissed or settled for a lot less . If endpq can settle them for a lot less then everyone wins and bankruptcy will be avoided

Risk reward thing

[1manband]

There is ZERO chance that shareholders will receive anything in this bankruptcy. The business will not fail. It will continue on, but will be owned by the current debtors. Shareholders get NOTHING.

That is how bankruptcy works.

[hawkshaw812]

Not really they are using the legal system to protect them from the lawsuits and manipulate the suits .

They are to big to fail load up .

[Banjo50]

He is waiting for the shares to be cancled and he has a 100% loss for a nice tax write off. Cheers!

[ATVrider]

Actually I do not care, I will patiently wait for the bottom to get it. Made thousands previusly with Q stocks I just play the charts and dead cat bounces I really do not care what the company really does lol.

[1manband]

Wait for what? The stock is worthless.

It is very humorous to read all the posts on other social media sites from people who assert the common stock not only has value, but is worth over $1 a share. Even $5-10 a share.

It isn't.

Those people don't understand how bankruptcy, and the bankruptcy process, work. The assets (ALL the assets) are being sold for less than the amounts owed to the debtors and creditors, which will leave the shareholders with nothing.

[ATVrider]

Wait for it..

[Banjo50]

The symbol should be changed from ENDPQ to just END. Very sad for the longs.

[Banjo50]

YES!!! YOU ARE CORRECT SIR!!!

[1manband]

The stock is worthless.

If anyone were willing to pay that much for the assets, they would not have needed to file for bankruptcy in the first place.

But they did, because the assets are not worth more than the liabilities.

In bankruptcy, the common shareholders will only recover something IF the debtors and creditors are 100% satisfied for what they are owed.

The odds of that happening here are pretty much zero.

The common stock will be wiped out without any compensation to shareholders, which means it is worthless.

[Banjo50]

THE LONGS WILL BE WIPED OUT TO THEIR LAST DIME!!! Nothing to see here folks keep moving.

[trader59]

They're proposing to sell all their assets to their secured creditors, so it is very likely (almost guaranteed) the common shareholders will get nothing from this bankruptcy.

[trendzone]

The big problem now with stock, no one in there right mind in the US will be buying this stock with a $50.00 foreign transactions fee slapped on to it,if you want to buy it, that means a lot less buy side volume that will keep it under pressure.

[trendzone]

It's hard to not disagree with that,I think a lot of the law suits are related to how many of the company's, were over aggressive and flooded the markets with those kinds of drugs,because at the time too many doctors were writing scripts like no tomorrow on them,and they put greed above everything else to make as much money off it at the time,and now they have all paid the price for that big time, but they should not all be but of business for it.

[Cash Avalanche]

Institutions still own 60% of the float…. Vanguard, Black Rock, etc…. I don’t think they are stupid… the company is reported to have assets worth $6.36 Billion, due to lawsuits the liabilities are $9.56 Billion… they had to of had some type of liability insurance that will come into play and relieve some of the lawsuit debt… earnings will come into play as well as accounts receivable…. I can’t see this lawsuit being solid…. How can a judge declare fault on those companies that provide a drug that will obviously continue to be sold? How can a judge say “hey you you are liable for offering a drug that doctors prescribe every day and will continue to prescribe for the foreseeable future?” there is no substitute for opioids, is the liability on the prescribers or the manufactures, or the sales force? How can there be recompense of something they will never ever take off the shelf? At any rate, in the end, with an OS of 235 million, if the shareholders can get at least a billion in value then that would be a PPS of $3….. so I’m holding through this mess….

[gilbertduiker]

Good morning ,
so the India base is not part of the bancruptsy , is there a chance that whe can go back to bigboard ?
Thanks in advance.
Greetz from Belgium.

[Banjo50]

It's over for the longs. The shareholders will get nothing.

[Renee]

ENDP changed to ENDPQ, bankruptcy. Delisted from the Nasdaq to the OTC:

https://otce.finra.org/otce/dailyList?viewType=Additions

[Smilin_B]

Why haven't these shares been deregistered yet?

[1manband]

Endo is bankrupt. The common stock has no value.

In order for the common shares to have value in the bankruptcy, the creditors need to 100% satisfied for the full amount of what they are owed. Taking into account the true value of the assets and all the liabilities and debt, and the huge costs of the bankruptcy process, it would almost certainly require something north of $7.5 BILLION just to pay off what is owed. For the common stockholders to benefit, an acquirer would need to pay more than that.

The creditors have agreed to acquire all the assets for a credit of $6 billion. Which means the unsecured creditors will receive pennies on the dollar, if anything. For them to get out whole, another acquirer would need to bump that bid by 25%, and for common shareholders to get anything, it would need to be more than that.

That is highly unlikely to occur. They are primarily a generic drug maker with a huge amount of legal issues, which is not attractive to other drug companies.

Sure, the Apes could try to pump this as a "short squeeze" and it may work in the very short-term, but long-term, the stock is almost certainly going to zero and common shareholders will be wiped out.

[Trend-Setter]

Hey folks! Elite Pharmaceuticals (otcqb: ELTP) = CASH FLOW POSITIVE for about 2 years now with low debt. Unbelievably suppressed stock price @ 4 cents. Year 2021 revenue is $32 Million. Income from Operations before taxes is $6.3 Million. Net income attributable to common shareholders is $8.9 Million. CEO owns 300 million shares. ELTP historically made couple of Millionaire-making monster runs.

Outstanding Shares: 1.01 Billion
Float : ~ 750 Million

Latest SEC 10-K Financial Report
https://www.sec.gov/ix?doc=/Archives/edgar/data/1053369/000149315222018108/form10-k.htm

Will another Millionaire Maker run coming?
2010-2011........................... $0.039- $0.26
2014...................................... $0.060- $0.97
2022-2023........................... $0.035- DollarLand?
Catalysts:
2 abuse deterrents
generic CNS stimulant
ADF adderall

>>> Very rare to find an otc listed company with CASH FLOW POSITIVE status.

[Ichauway]

Indeed.

[hawkshaw812]

Well endp filled a restructuring with the courts today

[hawkshaw812]

Oops. That was a 4 mill buy not 40 .

[BLUEVOODU]

Endp - I'd like to understand what's going on. If they avoid bankruptcy, this thing could skyrocket... again. However, if it hits bankruptcy, buying now may be a big mistake. High risk / reward right now.


Teva - we will see.

[hawkshaw812]

Teva is pretty interesting I'd like to jump in but I think I'll hold off . Good luck to you on teva I think yull do well

[BLUEVOODU]

Right now... when they say imminent... I have to think that it's a major consideration that's on the table. Unless it's an internal pump and dump lol.

Jokes aside... I haven't seen form 4s for awhile. They do have a Monkey Pox vaccine and looks like the government is allowing a small amount right now despite the current endp issues happening.

They're in a very interesting state... I mean, the risk is ridiculously high, but super encouraging to see what the unsecured note holders are stating. The threat of bankruptcy might be trying to force a settlement as well? Side Note -- Teva just had a major settlement. I missed the low buy on them and kick myself. I am already heavily invested in Teva though.

[hawkshaw812]

I have no idea I cant believe the stock didnt move on that 40 mill share that someone bought . That should tell us they wont be filling bk.

[BLUEVOODU]

So the unsecured note holders mentioned ENDO could do it without bankruptcy. ENDO is stating they will have to immediately file. Why wouldn't they talk with the unsecured note holders 1st to see if there is a better idea.

I'm sure this stock would jump if they DON'T go to bankruptcy. So... what's the deal?

[hawkshaw812]

Its impossible.

[masterofdisaster]

These premarket moves never have follow through anymore. This market is broken