HC Stocks in Focus! EnteroMedics (ETRM), Endo International plc (ENDP)
Shares of EnteroMedics Inc (NASDAQ:ETRM) ended Tuesday session in green amid volatile trading. The shares closed up +0.0010 points or 1.04% at $0.0970 with 2.54 million shares getting traded. Post opening the session at $0.10, the shares hit an intraday low of $0.09 and an intraday high of $0.10 and the price vacillated in this range throughout the day. The company has a market cap of $6.32 million and the numbers of outstanding shares have been calculated to be 69.70 million shares.
EnteroMedics Inc (ETRM) announced that vBloc® Neurometabolic Therapy is now available to U.S. veterans at U.S. Department of Veterans Affairs (VA) medical facilities. This is made possible through the previously-announced EnteroMedics partnership with Academy Medical, LLC, a certified Service-Disabled Veteran-Owned Small Business specializing in the distribution of medical products to VA and Department of Defense (DoD) facilities. As of October 1, 2016, vBloc was added to Academy Medical’s five year sole source agreement with the U.S. Department of Veterans Affairs that allows any VA surgeon in the U.S. to purchase the vBloc System from Academy Medical under a national contract.
“VA surgeons across the U.S. now have access to a safe and effective treatment option for obesity,” said Sachin Kukreja, M.D., Director, Bariatric Surgery, VA North Texas Health Care System. “Our center has extensive experience and success with vBloc Therapy and we look forward to expanding the reach of this exciting new treatment to eligible obese patients who do not wish to undergo anatomy-altering, restrictive surgeries.”
Shares of Endo International plc – Ordinary Shares (NASDAQ:ENDP) ended Tuesday session in green amid volatile trading. The shares closed up +0.58 points or 3.01% at $19.85 with 2.46 million shares getting traded. Post opening the session at $19.52, the shares hit an intraday low of $19.52 and an intraday high of $20.02 and the price vacillated in this range throughout the day. The company has a market cap of $4.29 billion and the numbers of outstanding shares have been calculated to be 222.77 million shares.
Endo International plc – Ordinary Shares (ENDP) announced that its Board of Directors has named Paul V. Campanelli President and Chief Executive Officer, effective immediately. Mr. Campanelli currently serves as President of Endo’s Generic and OTC drugs business, Par Pharmaceutical, which accounts for approximately 60 percent of Endo’s total revenues through the first half of 2016. Campanelli, who will also join Endo’s Board of Directors, succeeds Rajiv De Silva , who has stepped down as President, CEO and a member of the Board.
Campanelli, 54, joined Endo in 2015 following Endo’s acquisition of Par Pharmaceutical, where he had served as Chief Executive Officer since 2012. While CEO of Par, Campanelli built a strong leadership team and an industry-leading generics business. Specifically, during his tenure, Par significantly increased total revenue, acquired JHP Pharmaceuticals and established a presence in the European generics market. Since joining Endo, Campanelli has overseen the Company’s U.S. Generic Pharmaceuticals business.