Endo restructuring will see 875 job cuts

Ireland-incorporated Endo International (Nasdaq: ENDP), which under pressure from the US Food and Drug Administration is puling its top-selling  opioid pain drug Opana ER (oxymorphone hydrochloride extended release) from the US market, on Friday announced a major restructuring of the company.

Endo said that, after completing a comprehensive review of its manufacturing network, the company will be ceasing operations and closing its manufacturing and distribution facilities in Huntsville, Alabama.

The closure of the facilities is expected to take place over the next 12 to 18 months. The Huntsville location has been impacted by declining volumes of commoditized products and these restructuring actions are intended to better match manufacturing capacity to projected future demand.