Endo to buy Mexican specialty pharma company Somar

29 April 2014

USA-based Endo International (Nasdaq: ENDP) as entered into a definitive agreement to acquire Grupo Farmaceutico Somar, a leading privately-owned specialty pharmaceuticals company based in Mexico City, Mexico, for an undisclosed cash consideration.

Endo expects the transaction to be immediately accretive to adjusted earnings per share, and to close in the third quarter of 2014.

"The acquisition of Somar is well-aligned with our goal of pursuing accretive acquisitions that enhance Endo's strategic positioning and diversifying our pharmaceutical business beyond the USA by accessing attractive emerging markets" said Rajiv De Silva, president and chief executive of Endo.

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