About Careers MedBlog Contact us

Dublin-Based Endo International to Buy Par Pharmaceutical for $8.05 Billion

by Shirley Johanna on May 20, 2015 at 12:04 PM
Font : A-A+

Dublin-Based Endo International to Buy Par Pharmaceutical for $8.05 Billion

Endo International announced that it would buy Par Pharmaceuticals Holdings for $8.05 billion to expand its generics business.

Two months after losing its bid to buy Salix to Canadian rival Valeant, Endo will pay $6.50 billion in cash and 18 million Endo shares valued at $1.55 billion to private equity firm TPG Capital for Par, and assume the US company's debt.


Endo said the acquisition adds a portfolio of nearly 100 products and a pipeline of more than 200 new drug applications.

"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 M&A," said Rajiv De Silva, Endo president and chief executive, in a statement.

The combined company was expected to generate $175 million in savings within 12 months after the transaction is completed and help to drive long-term double-digit revenue growth.

Par CEO Paul Campanelli will join Endo as the head of the company's generics business, which will rank among the top five as measured by US sales.

The boards of directors of both companies had approved the transaction and no further shareholder approvals were needed. The deal is expected to close in the second half of 2015, subject to regulatory approval.

Endo is based in Dublin, Ireland. Its US headquarters are in Malvern, Pennsylvania, where it develops and produces branded products, such as painkillers Percocet and Percodan. Par is based in Chestnut Ridge, New York.

The merger comes amid a wave of consolidation in the global pharmaceutical sector.

In March, Valeant outbid Dublin-based Endo for Salix, a US developer of treatments for gastrointestinal diseases, in a $15.8 billion deal.

Shares in Endo plummeted 2.9 percent to $82.84 in opening trade.

Source: Medindia

Recommended Reading

This site uses cookies to deliver our services.By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use  Ok, Got it. Close

Dublin-Based Endo International to Buy Par Pharmaceutical for $8.05 Billion Personalised Printable Document (PDF)

Please complete this form and we'll send you a personalised information that is requested

You may use this for your own reference or forward it to your friends.

Please use the information prudently. If you are not a medical doctor please remember to consult your healthcare provider as this information is not a substitute for professional advice.

Name *

Email Address *

Country *

Areas of Interests