Endo Pharmaceuticals (NSDQ:ENDP) said today that it will voluntarily pull its Opana ER painkiller from the market. The move comes just weeks after the FDA asked the company to pull the plug on its opioid, arguing that the benefits of the abuse-deterrent drug no longer outweigh the risks.
To write off the remaining net book value of the product, Endo said it expects to incur a pre-tax impairment charge of $20 million in the 2nd quarter of this year. Opana brought in $158.9 million in net sales in 2016.
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