Endo International has acquired a broad portfolio of branded and generic injectable products from a subsidiary of publicly-traded South African company Aspen Holdings.
The acquisition is expected to support Endo’s continued growth in South Africa and adds nearly 60 on-market products.
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Under the agreement, Aspen will receive a one-time payment of approximately $130m subject to usual and customary closing adjustments.
Endo president and CEO Rajiv De Silva said: "With the acquisition of these products from Aspen Holdings, Endo continues to grow, diversify and optimise its international portfolio and, specifically, further expand its reach into hospital and pharmacy markets in South Africa.
"The transaction also continues to build Endo’s R&D pipeline and position the company for future organic growth with the addition of nearly 70 pipeline programmes in development with multiple strengths and dosage forms across oncology, anti-infectives, cardiovascular and respiratory."
Having generated approximately $28m of revenue during the fiscal year ending 30 June 2014, the portfolio of products is focused on pain, anti-infectives, cardiovascular, and other specialty therapeutics areas.
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By GlobalDataA sizeable pipeline of products is currently under different development phases and expected to launch over the next decade or so.
The acquired portfolio of products will be incorporated into Endo’s Litha Healthcare Group portfolio and is expected to increase Litha’s pro-forma 2015 revenues by 30% and pro-forma pharmaceutical product revenues by 60%.
The deal is expected to close in the third quarter of this year.
