Endo International plc in $130M deal with South African pharmaceutical company, Aspen Holdings
Tuesday, May 12, 2015
Endo International has acquired a group of branded and generic drugs from the subsidiary of a publicly traded South African pharmaceutical company.
Under the terms of the deal Endo will pay Aspen Holdings $130 million for the portfolio of products — some already in the market and others in development — including pain medicines, anti-infectives, and cardiovascular therapies.
The approved products generated about $28 million in sales during the fiscal year than ended June 30.
The deal is part of Endo’s goal to grow its international pharmaceuticals business to 25 percent of its overall revenues.
Rajiv De Silva, president and CEO of Endo (NASDAQ: ENDP), said the acquisition will also allow the company to expand its research and development with the addition of nearly 70 drug development programs covering multiple strengths and dosage of oncology, anti-infectives, cardiovascular and respiratory products.
Endo, based in Dublin, Ireland, has its U.S. headquarters in Malvern, Pa.. It expects the deal to close in the third quarter and be immediately accretive to earnings.
bizjournals.com
