Endo Health Solutions 8K Endo Announces Potential Short-term Supply Constraints of Certain Analgesic Medications As a Result of Temporary Shut Down of Novartis Facility | ENDP 9 Jan 12

ENDO PHARMACEUTICALS

Annual

J.P. Morgan Healthcare Conference

January 9, 2012

Exhibit 99.2

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FORWARD LOOKING STATEMENTS

This presentation contains forward-looking statements within the meaning of the Private Securities

Litigation

Reform

Act

1995.

Statements

including

words

such

“believes,”

“expects,”

“anticipates,”

“intends,”

“estimates,”

“plan,”

“will,”

“may,”

“look forward,”

“intend,”

“guidance,”

“future”

or similar

expressions are forward-looking statements. Because these statements reflect our current views,

expectations and beliefs concerning future events, these forward-looking statements involve risks and

uncertainties. Investors should note that many factors, as more fully described under the caption “Risk

Factors”

in our Form 10-K, Form 10-Q and Form 8-K filings with the Securities and Exchange Commission

and as otherwise enumerated herein or therein, could affect our future financial results and could cause

our actual results to differ materially from those expressed in forward-looking statements contained in

our Annual Report on Form 10-K. The forward-looking statements in this presentation are qualified by

these risk factors. These are factors that, individually or in the aggregate, could cause our actual results to

differ materially from expected and historical results. We assume no obligation to publicly update any

forward-looking statements, whether as a result of new information, future developments or otherwise.

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ENDO PHARMACEUTICALS

Our Diversified Business

II.

Growth Drivers

III.

Commitment to Innovation

IV.

2011 Financial Guidance

Value Creation in 2012

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FUTURE VALUE CREATION OPPORTUNITIES

SOLID TRACK RECORD OF SALES GROWTH

16% 3-YEAR CAGR FOR REVENUE*

Sustaining our Growth

* Revenue CAGR 2007-2010

($MM)

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STRONG CASH FLOW GENERATION

* Year to date reported as of 9/30/2011

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DIVERSIFIED HEALTHCARE SOLUTIONS COMPANY

Endo -

2011

Endo -

2008

* Pro forma -

TTM as of 9/30/2011. Includes full year of AMS and Qualitest.

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SUSTAINING OUR GROWTH IN 2012

2012 Top Drivers of Revenue Growth:

Branded Pharmaceuticals:

Opana ER

Voltaren Gel

Qualitest

AMS

Diversifying Endo has created a company with

near-term growth from multiple sources

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BRANDED PHARMACEUTICALS DRIVERS

Voltaren®

Gel: A product with strong

long-term growth

November 2011 TRx growth:

Voltaren Gel ~37%

Expect 2012 revenue growth driven by:

Strong formulary access

Targeted promotion

Increasing share of prescription volumes

Strong

Prescription

Growth

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BRANDED PHARMACEUTICALS DRIVERS

New Formulation of Opana ER Approved:

Patent protection through 2023

Opana ER Supply Chain Update:

Short-term supply constraints as a result of temporary shut down of Novartis

facility

Working with FDA and Novartis to resume production shortly

Currently expect full production levels of new formulation by end of Q1 or early

2012 Oxymorphone API quota allocation from DEA:

Significant quota

granted to support manufacture of

new

formulation

No quota

granted to support manufacture of

old

formulation

We believe this decision supports the introduction of new formulations of

extended

release

opioids

that

are

designed

potentially

reduce

certain

forms

of misuse and abuse.

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STRONG CORE BUSINESS SUPPORTING GROWTH

LIDODERM®

key component of our core business

Durable source of operating cash flow

Expect sales growth in 2012

Stable TRx trends and solid managed care positioning

12-year Commercial launch anniversary in September 2011

Differentiated product profile

Provides unique offering for HCPs and patients suffering

from PHN

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STRONG GENERICS GROWTH IN 2012

Expect continued revenue growth in Generics

Growth primarily driven by strong demand for current

commercial products ~600 SKUs

Specialty product lines create stability

~60% of revenues from Controlled Substance and Liquids

ANDA approvals and product launches supplement

growth

Capitalizing on demand opportunity –

investing to

increase manufacturing capacity by ~70%

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AMS: PORTFOLIO OF GROWTH

Expect 2012 growth from all lines of business

Expansion in US and Non-US regions

Men’s

Health:

Driven

procedural

volume

growth

Erectile Restoration (ER) within US

Male Continence (MC) outside US

Women’s

Health:

Planning

for

return

growth

2012

and continued new product introductions

BPH:

Growth

driven

increasing

GreenLight

procedural volumes

International opportunities

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Expect strong 2012 growth

Leading provider of urology services:

Lithotripsy

BPH laser

Cryosurgery

Service based relationships focused on:

Improving patient care

Enhancing practice economics

Recent addition of electronic medical record offerings:

Enhances HealthTronics’

service offerings

Adds significantly to our urology relationships

HEALTHTRONICS SERVICE BASED GROWTH

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•

Virtual Research

•

Channels within Pelvic Health and Pain

•

Diverse set of Therapeutic Opportunities:

Pain

Prostate Cancer

Bladder Cancer

Hormone Replacement

Sexual function

Incontinence

Malignant Disease

PARTNERSHIPS :

A KEY TO FUTURE VALUE CREATION

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COMMITMENT TO INNOVATION

Branded Pharmaceuticals

Medical Devices

Generic Pharmaceuticals

ANDA

Filings

~50 Current

ANDA Reviews

ANDA

Approvals

Generic Development

Supplements strong

commercial base growth

•

Continually enhancing

existing products

•

Recent advances:

GreenLight™

XPS Laser

Console

MoXy™

Laser Fiber

AdVance™

XP (OUS)

•

Developing treatments in

new areas

Topas™

sling

Cryotherapy

•

Exploring new emerging

technologies

•

Key Therapeutic Areas

•

Pain

•

Oncology

•

Endocrinology

•

Semi-Virtual R&D Model

•

Global Partnerships

•

Discovery

•

Early Development

•

Development Pipeline

AVEED™

(NDA)

Long Acting Injectable Testosterone

BEMA Buprenorphine™

(Ph. III)

Pain

Urocidin™

(Ph. III)

Bladder Cancer

Androgen

Receptor

Antagonist

(Ph.

Castration Resistant Prostate Cancer

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NEW PHASE III BEMA Buprenorphine

Complements pain therapeutics portfolio

Draws upon existing expertise in the development and

commercialization of opioids

Key Financial Terms:

$30 million upfront payment to BDSI

$150 million in potential milestone payments

Contingent

IP,

Clinical

and

Regulatory

events

and

designated sales levels

Tiered royalties on net sales in the U.S.

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2011 ENDO GUIDANCE

Guidance

Revenue range

$2.72B -

$2.80B

Adjusted diluted EPS range

$4.55 -

$4.65

Reported (GAAP) diluted EPS range

$1.87 -

$1.97

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2011 KEY ACHIEVEMENTS

New formulation of Opana ER approved

Built a diversification-driven business model

Execution of Generics strategy through Qualitest

Expansion of therapeutic device offerings for Urologists with AMS

Create customer-centric opportunities

Endo’s Urology business: Diagnostics, Devices, Services, Pharmaceuticals

and Data

Launched Pilot programs in Urology

AMS Men’s Health and Fortesta Gel

Endocare cryoablation and AMS Green Light laser

Continued growth in Branded Pharmaceuticals

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2012 VALUE CREATION OPPORTUNITIES

Successfully launch new formulation of Opana ER

Support the future growth of Qualitest

Invest capital to capture growing demand for products

Exceed cost synergies assumed at time of Qualitest acquisition

Invest in AMS to accelerate growth

AMS/Endo pilot program updates in first half 2012

Invest in R&D to accelerate advance of new products to market

Maximize operating cash flow to pay down debt

~$300M of debt repayments completed in 2011

Continue to evaluate complementary licensing and

acquisition opportunities aligned with current business

ENDO PHARMACEUTICALS

grow. collaborate. innovate. thrive.

grow. collaborate. innovate. thrive.

RECONCILIATION OF NON-GAAP MEASURES

For an explanation of Endo’s reasons for using non-GAAP measures, see Endo’s Current Report on Form 8-K filed today with the Securities and Exchange Commission

Reconciliation of Projected GAAP Diluted Earnings Per Share to Adjusted Diluted Earnings Per Share Guidance for the Year Ending December 31, 2011

Lower End of Range

Upper End of Range

Projected GAAP diluted income per common share

$1.87

$1.97

Upfront and milestone-related payments to partners

$0.25

Amortization of commercial intangible assets and inventory step-up

$2.10

Acquisition and integration costs related to recent acquisitions.

$0.48

Impairment of long-lived assets through September 30, 2011

$0.19

Interest expense adjustment for ASC 470-20

$0.16

Tax effect of pre-tax adjustments at the applicable tax rates and

certain other expected cash tax savings as a result of recent

acquisitions

($0.50)

Diluted adjusted income per common share guidance

$4.55

$4.65

The company's guidance is being issued based on certain assumptions including:

•Certain of the above amounts are based on estimates and there can be no assurance that Endo will achieve these results

•Includes all completed business development transactions as of January 9, 2012

ENDO PHARMACEUTICALS

30 Annual

J.P. Morgan Healthcare Conference

January 9, 2012

grow. collaborate. innovate. thrive.

Endo Health Solutions (ENDP) Inactive 8-KEndo Announces Potential Short-term Supply Constraints of Certain Analgesic Medications As a Result of Temporary Shut Down of Novartis Facility