Endo Completes Acquisition of Specialty Generics Company Boca Pharmacal
MALVERN, Penn., Feb. 3, 2014 /PRNewswire/ --
- Unique Generics Product Portfolio, Attractive Pipeline, Builds On Qualitest's Strength In Controlled Substances
- Transaction Expected To Be Immediately Accretive To Endo's Adjusted Diluted EPS
Endo Health Solutions (Nasdaq: ENDP) today announced that its Qualitest subsidiary has completed the acquisition of privately held Boca Pharmacal, a specialty pharmaceutical company, for approximately $225 million in cash. Boca Pharmacal is a specialty generics company that focuses on niche areas, commercializing and developing products in categories that include: controlled substances, semisolids, and solutions. Boca Pharmacal's commercial footprint and R&D pipeline is expected to be a strong complement to Qualitest. The transaction will be financed with Endo's current cash on hand.
Endo Health Solutions Inc. is a U.S.-based specialty healthcare company with business segments that are focused on branded pharmaceuticals, generics, and medical devices which deliver quality products to its customers intended to improve the lives of patients. Through its operating companies - Endo Pharmaceuticals, Qualitest, and AMS - Endo is dedicated to delivering value to our stakeholders: customers, patients, and shareholders. Learn more at www.endo.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "believes," "expects," "anticipates," "intends," "estimates," "plan," "will," "may," "look forward," "intend," "guidance," "future" or similar expressions are forward-looking statements. Because these statements reflect our current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties. Investors should note that many factors, as more fully described under the caption "Risk Factors" in Endo's Form 10-K, Form 10-Q and Form 8-K filings with the Securities and Exchange Commission and as otherwise enumerated herein or therein, could affect Endo's future financial results and could cause Endo's actual results to differ materially from those expressed in forward-looking statements contained in our Annual Report on Form 10-K. The forward-looking statements in this press release are qualified by these risk factors. These are factors that, individually or in the aggregate, could cause our actual results to differ materially from expected and historical results. Endo assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.
SOURCE Endo Health Solutions