Endo Acquires Par for $8.05 Billion
The Irish company Endo International announced that it would acquire Par Pharmaceutical for $8.05 billion.
Ireland-based company Endo International announced on May 18, 2015 that it would acquire Par Pharmaceutical in a transaction valued at $8.05 billion, which includes the assumption of Par debt. The acquisition gives Endo full access to Par Pharmaceutical, specializing in high-barrier-to-entry generic drugs; Par Specialty Pharmaceuticals, providing niche brands; and Par Sterile Products, developing and manufacturing branded and generic aseptic injectable pharmaceuticals. In 2015, Par acquired Ethics Bio, a contract research organization, and Innoteq a developer and manufacturer of coated products.
"We share Endo's goal of developing and commercializing generic drugs in areas of greatest revenue potential, complex formulations, and longer life cycles," said Paul Campanelli, CEO of Par Pharmaceutical, in a press release.
Par’s portfolio is host to almost 100 products including oral solids, oral suspensions, injectables, and high barrier-to-entry products. Par’s pipeline consists of more than 200 abbreviated new drug applications (ANDA), with expectations that it will generate 20–25 ANDA filings in 2015, 2016, and 2017, according to a press release. The transaction is expected to close in the second half of 2015.
Source: Endo
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