Endo Int to buy Par Pharma in $8.05 billion deal

Ireland-headquartered Endo International (Nasdaq: ENDP) has entered into a definitive agreement under to acquire privately-held Par Pharmaceutical from private investment firm TPG in a transaction valued at around $8.05 billion, including assumption of Par debt.

The combination will create a leading specialty pharmaceutical company with a generics business that is one of the industry's fastest growing and among the top five as measured by US sales. It is also expected to help drive long-term double-digit revenue growth for Endo, whose shares rose 3.2% in pre-market trading this morning, but fell 5.4% to $80.77 by close of trading.

Par, which TPG took into private ownership in 2012 for about $1.9 billion, has a portfolio of nearly 100 generic products, including oral solids and injectables.