Citigroup Releases Product and Pricing Trends for Endo Pharmaceuticals

In a recently published report on Endo Pharmaceuticals Holdings Inc.

, Citigroup has reviewed core product and pricing trends for company's Lidoderm, Opana and Fortesta. Citigroup sees the company's Lidoderm to have a "~$1,030M Annual Run Rate Implied by 4-Week Average TRx's vs. Our 2011E Sales of ~$806M (+3%). 4Q11 QTD TRx growth is +2% vs. +1%/+1%/+5%/+1% in 3Q11/2Q11/1Q11/4Q10." On Opana, Citigroup sees "~$380M Annual Run Rate Implied by 4-Week Average TRx's vs. Our 2011E Sales of ~$384M (+29%). Branded long-acting opioid TRx market is up +0% in 4Q11 QTD. Total Opana NRx share is 6.2% (-6bps)," Finally, according to Citi, "Fortesta Has 2.1% NRx Share of the Testosterone Replacement Mkt. We project ‘11E Fortesta sales of ~$32M; with NRx/TRx's for the week at 1,051(+9%)/1,784 (+6%)." On Friday, ENDP closed its trading at $32.71 per share.