Pharmaceutical developer and manufacturer Endo International, which is headquartered in Malvern, agreed to swallow up generic drug maker DAVA Pharmaceuticals, and a spoonful of “meaningful upside” helped the medicine go down.
Endo President and CEO Rajiv De Silva “called DAVA a ‘natural fit’ for Endo’s generics business and said DAVA is well-positioned for continued ‘strong and highly predictable financial performance with its existing commercial portfolio and attractive near-term pipeline,’” the Philadelphia Business Journal reported.
The $575 million cash and $25 million performance deal is thought to be financed by an offering of senior notes.
Read more about the acquisition in the Philadelphia Business Journal here.
