Endo International Purchasing Yet Another Pill Maker For $8.05 Billion

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Endo Headquarters in Malvern
Endo US headquarters in Malvern.

Following a prescription to break into the world’s top five generic pharmaceutical businesses, today Endo International (Nasdaq:ENDP) swallowed its fourth generics firm in recent months, buying Par Pharmaceutical Holdings for $8.05 billion.6.21.2014 Endo 5

The deal adds nearly 100 oral solid and injectable generic pharmaceuticals to the Dublin, Ireland-based company whose U.S. headquarters is in Malvern, according to a report in The Wall St. Journal.

“This transaction with Par builds upon our generics growth, adding a strong portfolio of high barrier-to-entry and attractive gross margin products while also transforming Endo, creating a powerful corporate platform for future growth and strategic mergers and acquisitions,” President and CEO Rajiv De Silva said in an announcement.

Endo International
Rajiv De Silva, CEO and President of Endo.

Following regulatory approval in the second half of 2015, Endo International officials expect the expanded company to be on par with a quest for double-digit long-term revenue growth; they will also reap the knowledge and experience of 25-year veteran industry leader Paul Campanelli, the Par CEO who will join Endo’s leadership team.

“Paul has demonstrated a clear track record of success in innovation and strategic management in specialty generics,” De Silva added.

Endo is purchasing Par from private equity firm TPG, which took it private in 2012 for $1.9 billion, the Journal reported, for 18 million shares of Endo stock and $6.5 billion cash.

“This is an exciting time of growth and opportunity in the generics and specialty pharmaceutical arenas,” Campanelli said. “We share Endo’s goal of developing and commercializing generic drugs in areas of greatest revenue potential, complex formulations and longer life cycles. I look forward to joining the Endo team and working together to achieve that goal.”

Read more about the deal and the industry-wide surge in acquisitions in The Wall St. Journal here, and check out previous Vista Today coverage of Endo International mergers with Auxilium here and DAVA Pharmaceuticals here.

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