Endo Acquires Select Aspen ProductsBy
The specialty pharmaceutical company, Endo International, has acquired a broad portfolio of branded and generic injectable and established products focused on pain, anti-infectives, cardiovascular, and other specialty therapeutics areas from a subsidiary of Aspen Holdings, a South Africa-based company that supplies branded and generic products in more than 150 countries. Under the terms of the agreement, Aspen Holdings will receive a one-time payment of approximately $130 million subject to usual and customary closing adjustments. Endo expects the transaction to close in third quarter 2015.
The acquired portfolio generated revenue of approximately $28 million of revenue during the fiscal year ended June 30, 2014 and further includes a pipeline of products in various phases of development that are expected to launch over the next several years.
The acquisition is part of Endo’s strategy to increase its international presence. The company’s goal is to grow its international bharmaceuticals business to represent 25% of Endo’s corporate revenues in the longer term. The portfolio of products to be acquired from Aspen Holdings 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%.