“We are not surprised by this transition as De Silva’s skill-set may not be helpful to the new direction of this company,” Mizuho analyst Irina Koffler said in a note.
Campanelli served as president of Endo’s generic and OTC drugs business, Par Pharmaceutical, which makes up about 60% of Endo’s total revenues through the first half of 2016, 24/7 Wall St. reports.
“Given the continued evolution of Endo’s business and Paul’s impressive track record of delivering strong operating results, the Board concluded that Paul is the right leader for Endo at this juncture as we focus on execution and increasing the value of our attractive U.S. Branded, U.S. Generic and International pharmaceutical assets,” Roger H. Kimmel, board chair at Endo, said.
SEE MORE: New Wave of Biosimilar Drugs May Boost Generics ETF
ENDP also makes up 1.1% of the Market Vectors Generic Drugs ETF (NasdaqGM: GNRX), the only generics-focused U.S.-listed ETF. GNRX tries to reflect the performance of the Indxx Global Generics & New Pharma Index, which tracks a number of global drug makers that generate significant revenue stream from generic drug sales.
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