(MENAFN) Endo International said it will acquire Par Pharmaceutical Holdings in a USD8.05 billion deal that will strengthen Endo's generic drugs business, The Peninsula Qatar reported.
Two months after losing its bid to buy Salix to Canadian rival Valeant, Endo will pay USD6.50 billion in cash and 18 million Endo shares valued at USD1.55 billion to private equity firm TPG Capital for Par.
The combined company was expected to generate USD175 million in savings within 12 months after the transaction is completed and help to drive long-term double-digit revenue growth.
"This transaction with Par builds upon our generics growth, adding a strong portfolio of high barrier-to-entry and attractive gross margin products while also transforming Endo," Endo president said.
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