Endo pays US$225m for Boca Pharmacal
Enhances growth platform and pipeline for Qualitest business
Endo Health Solutions, a specialist healthcare company based Malvern, PA in the US, is to acquire privately held generics firm Boca Pharmacal for US$225m in cash.
The firm says the transaction is expected to provide a growth platform and pipeline for its Qualitest business.
Coral Springs, Florida, US-based Boca Pharmacal develops products in categories that include controlled substances, semisolids and solutions. It is expected to generate EBITDA of approximately $50m in 2013.
'The acquisition of Boca Pharmacal is the first of several transactions we plan to execute as we transform Endo into a more focused specialist healthcare company with a lean operating model, able to deliver consistent earnings and revenue growth for our shareholders,' said Rajiv De Silva, President and CEO of Endo. 'The acquisition is aligned with our current generics footprint and will meaningfully accelerate the growth of Qualitest in 2014.
'I believe that the revenue and earnings contribution of this transaction, combined with the unique commercial portfolio and strong pipeline of ANDAs, make this an ideal fit.'
The deal is expected to close before the end of 2013, subject to standard regulatory requirements.
Endo Health Solutions operates in four business segments that are focused on branded and generic pharmaceuticals, devices and services. Its operating companies include AMS, Endo Pharmaceuticals, HealthTronics and Qualitest.