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Endo Pharmaceuticals Announces Agreement to Acquire Qualitest Pharmaceuticals for $1.2 Billion
Date:9/28/2010

its business lines and product offerings and enhances Endo's portfolio of pain management products. Combining the companies' generics portfolios will also significantly boost Endo's revenue and earnings growth. On a pro forma basis for fiscal 2010, the combined company would have had revenues of approximately $2.0 billion and more than 3,000 employees.

Commenting on today's transaction, David Holveck, President and Chief Executive Officer of Endo, said, "This is an exciting day for Endo. The acquisition of Qualitest accelerates our stated strategy of building a diversified healthcare company, better able to respond to the changing economics that drive the U.S. healthcare environment. We believe that this transaction will accelerate and diversify our revenues and earnings streams, while also providing our partners in the industry with a wider range of products and services at multiple value points. The transaction provides Endo with an enhanced competitive position and critical mass in the generics market and when combined with our growing Branded Pharmaceuticals and Devices & Services businesses, makes us a more comprehensive healthcare solutions provider. Together, we will be well positioned to strengthen our relationships with physicians and payment providers to deliver better outcomes for patients and to meet the demands of the evolving health care system in the U.S."

In addition, with more than 90 percent of all pain prescriptions now filled by generic drugs in the $15 billion U.S. pain market, the acquisition of Qualitest is a key step to Endo remaining at the forefront of providing pain solutions to its customers. Forty percent of Qualitest's revenues are derived from pain products, making the acquisition a natural extension of Endo's competitive position in pain and controlled substances. Endo believes that combining its technology platforms with Qualitest's already substantial business holds the potential for significant advantages in the n
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SOURCE Endo Pharmaceuticals
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