Endo Announces Restructuring Program; To Reduce 90 Positions - Quick Facts

(RTTNews) - Endo International plc (ENDP, ENDP.TO) announced that as part of its comprehensive organizational review, the company has initiated a restructuring program, which will reduce Endo's work force by approximately 90 full-time positions and will result in restructuring cash charges of approximately $15 million to $20 million. Endo expects to realize approximately $40 million to $50 million in annual run rate pre-tax cost savings by the fourth quarter of 2017.

The company said these restructuring actions primarily relate to its Corporate functions and Branded pharmaceutical R&D functions in Malvern, PA and Chestnut Ridge, NY. Endo expects to invest a portion of the cost savings in the company's core product franchises and new product development programs for both the Branded and Generics business segments.