Endo International PLC on Thursday reported its losses deepened in its latest quarter, pressured by an asset impairment charge, leading the pharmaceutical company to cut annual guidance.

For the latest quarter ended March 31, the company booked a $129.6 million impairment charge up from $7 million a year ago.

Shares of the company slipped 24% to $20.18 after hours.

The company said it now expects total revenue for the year to be between $3.87 billion and $4.03 billion, down from a previous range of $4.32 billion to $4.52 billion. The company also expects adjusted earnings on a per-share basis to land between $4.50 and $4.80 down from $5.85 to $6.20.

Endo, which relocated to Ireland from Pennsylvania, is one of several drug companies lately using their lower-tax foreign addresses as springboards for acquisitions in the U.S., which has one of the world's highest corporate tax rates.

Last month, the Treasury Department imposed tough new curbs on corporate inversions, which contributed to Pfizer Inc. and Allergan PLC ending their planned $150 billion merger.

Last year, Endo agreed to buy rival drugmaker Par Pharmaceutical Holdings Inc. for $8 billion. The acquisition is slated to add nearly 100 products, including a number of more expensive injectable medicines, to Endo's portfolio of more than 700 generic medicines.

Endo reported a first-quarter loss of $133.9 million or 60 cents a share, compared with a loss of $75.7 million or 43 cents a year earlier.

Excluding certain items, Endo's adjusted earnings were $1.08 a share down from $1.29.

Revenue rose 35% to $963.5 million.

Analysts had expected adjusted earnings of $1.05 a share on revenue of $960.3 million.

Write to Ezequiel Minaya at ezequiel.minaya@wsj.com

(END) Dow Jones Newswires

May 05, 2016 21:05 ET (01:05 GMT)