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Shares of Endo International surged as much as 18 percent after the company named a new CEO and projected upbeat full-year earnings.
The special pharmaceutical company said Paul Campanelli, president of Par Pharmaceutical, Endo's generic and over-the-counter drugs business, will serve as CEO effective immediately.
Endo said that Par "significantly increased total revenue, acquired JHP Pharmaceuticals and established a presence in the European generics market," during Campanelli's tenure.
Endo also said it expects adjusted full-year earnings between $4.50 and $4.80 per share on revenue between $3.87 billion and $4.03 billion. Those numbers are slightly more optimistic than analyst projections for earnings between $4.44 and $4.68 per share on $3.86 billion and $4.04 billion in revenue, according to Thomson Reuters consensus estimates.
Even with Friday's gains, Endo shares have plunged nearly 62 percent so far this year.