Endo Health expends $225 million on generic acquisition
USA-based specialty health care company Endo Health Solutions (Nasdaq: ENDP) says that that its Qualitest subsidiary has reached a definitive agreement to acquire privately held Boca Pharmacal, a specialty generics company, for $225 million in cash.
The transaction is expected to enhance the growth platform and pipeline for Endo's Qualitest business and is consistent with Endo's strategic transformation into a leading specialty health care company. The intended buy comes as two of Endo’s biggest-selling drugs are set to lose patent protection: the transdermal pain drug Lidoderm (lidocaine) and the opioid analgesic Opana ER (oxymorphone).
Boca Pharmacal is a specialty generics company that focuses on niche areas, commercializing and developing products in categories that include: controlled substances, semisolids, and solutions. Boca Pharmacal's commercial footprint and R&D pipeline are a strong complement to Qualitest.
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