"Essentially we are looking for growth opportunities," Ammon says. "We could in-license products that basically give us cash flow but do not have opportunities for further development. But we are really looking for products that will meet unmet medical needs and will allow us to invest in and grow the products. The other factor is that we are looking to stay focused. We started out with a mission to be totally in pain management. Now we want to expand that focus—not broadly, but a little bit—to be in some of the near-pain areas. CNS [central nervous system] and migraine are a perfect example of that. And we are launching DepoDur, which gave us an opportunity to move into peri-operative care. So we are in that postsurgical, hospital environment; but we are still in pain."

In the pain market that is. As a business, Endo is feeling quite well.