Endo International sells portfolio of generics

US generic drugmaker Lannett (NYSE: LCI) has acquired 23 approved and one pending drug product applications from a subsidiary of Ireland-based Endo International (Nasdaq: ENDP) for an undisclosed upfront payment plus future milestone payments.

The portfolio primarily consists of oral solutions with a few semi-solid products. For the 12 months ended March 2018, combined sales of the acquired products were in excess of $175 million, according to IQVIA date quoted by Lannett.

"This transaction perfectly dovetails with our strategy to grow our top and bottom lines and diversify our product offering by complementing internal development efforts with the acquisition of commercially ready products," said Tim Crew, chief executive of Lannett.