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Endo International shares choppy after report says it’s in talks to sell Paladin Labs

A trader works on the floor of the New York Stock Exchange.
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A trader works on the floor of the New York Stock Exchange.

Shares of Endo International were choppy in intraday trade Friday after a report said it has held talks to sell Paladin Labs, its specialty pharmaceutical subsidiary.

The pharma company may sell it to Canadian drugmaker Knight Therapeutics, according to Reuters, citing people familiar with the matter. Endo International did not immediately respond to CNBC's request for comment. A spokesperson for Knight Therapeutics said the company does not comment on rumors.

The report said the possible deal could help Endo pay off some its $8 billion debt as it has struggled amid pressure from regulators on drug prices. The transaction could also aid Knight in further expansion in Canada, Reuters reports.

Reuters said there is no certainty the talks will result in a deal. The sources asked not to be identified because the negotiations are confidential.

Shares of Endo ended the day 2 percent higher, but even with Friday's gains, the shares have fallen more than 75 percent year to date.

Read the full report from Reuters here.

Endo International 1-Day Chart