Endo Health to slash 15 percent jobs, looks to sell some assets

By Zeba Siddiqui and Vrinda Manocha (Reuters) – Endo Health Solutions Inc said it plans to cut about 15 percent of its workforce and explore strategic alternatives for some assets as the company looks to cut costs ahead of generic competition for two of its biggest drugs. The company’s chief revenue driver, the Lidoderm pain-relieving patch, will face competition from September after Actavis Inc launches a generic. Endo’s petition to block copies of its widely-abused prescription pain drug Opana ER was turned down by the U.S. Food and Drug Administration last month. …