CHADDS FORD, Pa., Sept. 28 /PRNewswire-FirstCall/ —
Diversifies Revenue Streams and Boosts Scale in Existing
Generics Business, and Strengthens Core Pain
FranchiseTransaction Expected to be Immediately Accretive to
Adjusted Diluted Earnings per Share by $0.40 in First Full Year
After CloseCompany Reiterates Full-Year 2010 Financial
Guidance
Endo Pharmaceuticals (Nasdaq:
ENDP) announced today that it has entered into a definitive
agreement to acquire Qualitest Pharmaceuticals, a leading,
privately-held generics company in the U.S., for approximately $1.2
billion in cash. The combined company will deliver more
comprehensive healthcare solutions across its diversified
businesses in Branded Pharmaceuticals, Generics, Devices &
Services in key therapeutic areas including pain and urology.
Qualitest, the sixth largest U.S. generics company as measured
by prescriptions filled, is focused on cost competitive, high
quality manufactured products with high barriers to entry.
Qualitest has cGMP facilities in the U.S. including the ability to
manufacture controlled substances, which make up approximately 40
percent of its product portfolio, and liquids, which are roughly 17
percent of its portfolio. The company brings a broad range of
generics to Endo encompassing 175 product families. Thirty-two of
Qualitest’s products are listed among the top 250 generics by total
prescription (TRx) volume. In addition, the combined company will
have an extensive pipeline of abbreviated new drug applications
(ANDAs) with 46 ANDAs under active FDA review in multiple
therapeutic areas, including pain, urology, CNS, as well as
oncology and hypertension and an additional 24 ANDAs under
development in multiple therapeutic areas.
Endo believes Qualitest brings critical mass to Endo’s current
generics business, further diversifies
‘/>”/>
SOURCE