Endo Health Solutions Announces Departure Of Chief Scientific Officer

/PRNewswire/ -- Endo Health Solutions Inc. (Nasdaq: ENDP) today announced that Ivan P. Gergel, executive vice president research & development and chief scientific officer, will be leaving the Company.  Dr. Gergel will continue in his current role until March 31, 2014. 

MALVERN, Pa., Feb 27, 2013 Rajiv De Silva, president and chief executive officer of Endo, said, "I want to thank Ivan for his dedicated service and significant contributions to our R&D organization over the past 6 years.  During Ivan's tenure with Endo he has been responsible for building a focused approach to drug development that ultimately led to multiple product approvals.  Ivan has also built a strong foundation of capabilities and processes in R&D that will allow us to continue to focus on drug development as an organic growth driver for our business.  As a result of our planned re-domicile to Ireland, we have made the decision to move the lead role for R&D to our global headquarters in Dublin, and consequently, Ivan has chosen to evaluate opportunities outside of Endo.  We expect a smooth transition and are confident in the plans we are putting in place to position Endo for future shareholder value creation."

Ivan Gergel said, "I am very pleased with the accomplishments we have made at Endo over the past 6 years as the chief scientific officer.  I am very proud to have built a strong R&D team, developed a more innovative, nimble and cost-effective approach to drug development as well as the success we had in building our virtual drug discovery platform.  During my tenure, we were able to bring multiple new products to market, progress two promising late stage programs with AVEED™ and BEMA Buprenorphine and enhance the collaboration efforts with our commercial teams in order to build and execute innovative life cycle management programs.  I am looking forward to my next opportunity and wish Endo the best in its next phase of growth."

About Endo

Endo Health Solutions Inc. is a U.S.-based specialty healthcare company with business segments that are focused on branded pharmaceuticals, generics, and medical devices which deliver quality products to its customers intended to improve the lives of patients. Through its operating companies - Endo Pharmaceuticals, Qualitest, and AMS - Endo is dedicated to delivering value to our stakeholders:  customers, patients, and shareholders. Learn more at www.endo.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "believes," "expects," "anticipates," "intends," "estimates," "plan," "will," "may," "look forward," "intend," "guidance," "future" or similar expressions are forward-looking statements. Because these statements reflect our current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties. Investors should note that many factors, as more fully described under the caption "Risk Factors" in Endo's Form 10-K, Form 10-Q and Form 8-K filings with the Securities and Exchange Commission and as otherwise enumerated herein or therein, could affect Endo's future financial results and could cause Endo's actual results to differ materially from those expressed in forward-looking statements contained in our Annual Report on Form 10-K. The forward-looking statements in this press release are qualified by these risk factors. These are factors that, individually or in the aggregate, could cause our actual results to differ materially from expected and historical results. Endo assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

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SOURCE Endo Health Solutions Inc.