Endo to acquire generics firm DAVA Pharma for up to $600 million
Ireland-headquartered Endo International (Nasdaq: ENDP) says it has reached a definitive agreement to acquire DAVA Pharmaceuticals, a privately-held US company specializing in marketed, pre-launch and pipeline generic pharmaceuticals, for $575 million in cash, with additional cash consideration of up to $25 million contingent on the achievement of certain sales milestones.
The acquisition enhances Endo's attractive commercialization and development platform and is expected to be immediately accretive to Endo's 2014 adjusted earnings per share (EPS). Endo's shares were up 4% at $71.53 on the Nasdaq.
Adds high-margin marketed generics portfolio
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