The share values of the maker of the popular Percocet, Endo Health Solutions Inc increased after a month in the doldrums after the announcement of the appointment of its new CEO. Endo Health Solutions Inc new CEO is Rajiv De Silva.
The announcement pushed gains up to 7.7% to US$30.21 per share after reaching a high of US$30.47 since January 30. De Silva was previously at the helm of Valeant Pharmaceuticals International and would be taking over by March 18. He would be replacing David Holveck, who is the current CEO of Endo based out of Chadds Ford, Pennsylvania who announced his retirement last December.
De Silva comes in at a time when the company is considering its sale, at the time where projections for 2012 fourth quarter results are below the forecasted earnings. The future also looks bleak as insiders say that it is no longer expecting to reach revenues of US$3 billion in 2013.
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