Jan. 30 (Bloomberg) -- Endo Health Solutions Inc., the maker of the painkiller Lidoderm, rose the most in four years after a report said the drugmaker may sell itself.
Endo climbed 11 percent to $31.66 at the close of trading in New York, for the Chadds Ford, Pennsylvania-based company’s largest single-day increase since October 2008. Reuters cited unidentified sources in its article.
“As a matter of company policy, we don’t comment on market rumors,” Blaine Davis, a spokesman for Endo, said in an phone interview.
The drug company said in December it was looking to replace Chief Executive Officer David Holveck, who will retire in May or sooner if a successor is found. Endo also is preparing for generic competition to Lidoderm, its biggest seller, in September. Analysts estimate the medicine generated $922.6 million in 2012, according to data compiled by Bloomberg.
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