Endo International PLC (ENDP) stock prices were down 3.06% as of the market closing on July 15th, 2021, bringing the price per share down to USD$3.49 at the end of the trading day. Subsequent premarket fluctuations have seen the stock dip by 4.01%, bringing it down to USD$3.35.
Health Canada Approval
June 9th 2021 saw the company announce the approval of Wakix (pitolisant) by Health Canada for the treatment of excessive daytime sleepiness (EDS) or cataplexy in adult patients with narcolepsy. The approval of the treatment by Health Canada will facilitate the provision of a much-needed treatment for Canadians that suffer from narcolepsy. The treatment also affords patients the option to manage their EDS or as a treatment for their cataplexy attacks. The company is continuing to offer novel treatment options to help support the unmet needs of the Canadian patient demographic.
ENDP Partnerships
The company intends to collaborate with the Canadian Agency for Drugs and Technologies in Health (CADTH), as well as the Institut national d’excellenceensanteen services sociaux (INESSS). This partnership will facilitate the hasty provision of Wakix to its patients. 2018 saw the company’s subsidiary, Endo Ventures Ltd., entered into an agreement with Bioproject SCR. This partnership will see the company register, commercialize and distribute pitolisant on an exclusive basis across Canada. The commercialization of pitolisant in Canada will be conduced by Paladin Labs, an operating company of ENDP.
Ahead of the Competition
Wakix is in a class of its own, being the first and only Health Canada approved treatment for EDS and cataplexy symptoms in adult patents with narcolepsy. The first-in-class highly selective histamine 3 receptor antagonist/inverse agonist works through an innovative and unique mechanism of action. It increases the levels of histamine and other wakefulness promoting neurotransmitters in the brain.
Mechanics of Wakix
The tablet is to be taken once daily, every morning upon waking up. Wakix is thus far the only treatment for cataplexy that is not a controlled drug, having been approved by Health Canada. The treatment is currently marketed across Europe and the United States, serving as a registered trademark of Bioproject Europe Ltd.
Future Outlook for ENDP
Armed with the massively successful scope of the commercialization of Wakix having proliferated the entirety of the North American market, ENDP is poised to capitalize on the expanded opportunities for growth. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.
