Endo International (OTCPK:ENDPQ) will eliminate 90 positions in the wake of a decision to end the production and sales of Qwo, its treatment for cellulite in female buttocks.
The company said that it was influenced by reports of bruising following initial treatment as well as the potential for prolonged skin discoloration with the product.
The decision should result in annualized pre-tax cash savings of $50M-$60M. The company expects to record a pre-tax restructuring charge of $235M-$250M this quarter.