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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Endo
Endo (NDOI) investor relations material
Endo has been delisted
Endo Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary6 Aug, 2025
Executive summary
Mallinckrodt and Endo Inc. completed their merger on July 31, 2025, forming a larger, more diversified pharmaceutical company.
Cristiana Stamolis was appointed as the new President and CFO, bringing biotech, finance, and strategy expertise.
Integration plans are underway, targeting $150 million in annual pre-tax run-rate operating synergies by year three.
Financial highlights
Legacy Endo's Q2 2025 revenues were $448 million, flat year-over-year; adjusted EBITDA was $150 million, down from $176 million.
Excluding the divested international segment, Endo's revenues grew 2% year-over-year.
Legacy Mallinckrodt's Q2 2025 net sales were $485 million, down 6% year-over-year; net income was $2 million, up from a $43 million loss.
Mallinckrodt's adjusted EBITDA was $137 million, down from $174 million year-over-year.
Outlook and guidance
2025 total company net sales expected between $3.57 billion and $3.62 billion; adjusted EBITDA between $1.1 billion and $1.13 billion.
Par Health net sales projected at $1.72–$1.75 billion, with adjusted EBITDA of $450–$470 million.
AXSAR Gel 2025 net sales guidance raised to 20%-30% growth; XIAFLEX revenue growth reaffirmed in the high single digits.
Planned spin-off of Par Health in Q4 2025, subject to board approval.
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Latest events from Endo
- $6.7B merger creates a global pharma leader with $150M synergies and future business split.NDOI
M&A Announcement - Q3 2024 revenue fell 6% but adjusted EBITDA rose 6%, and 2024 guidance was reaffirmed.NDOIQ3 2024
- Q2 2024 revenues fell 18% year-over-year, but 2024 guidance was raised after restructuring.NDOIQ2 2024
- Q1 2025 revenue $393M, XIAFLEX® up 7%, net loss $129M, guidance reaffirmed amid major deals.NDOIQ1 2025
- Merger targets $3.6B revenue, $1.2B EBITDA, and strong branded growth in 2025.NDOIQ4 2024
Endo
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Frequently asked questions
Endo Inc. is a pharmaceutical company engaged in the development, manufacturing, and distribution of branded and generic medicines. The company focuses on a range of therapeutic areas, including pain management, urology, and dermatology. It provides prescription medications, specialty pharmaceuticals, and sterile injectables to healthcare providers and patients. The company is headquartered in Malvern, Pennsylvania, and its shares are listed on the NASDAQ.