Endo International has announced its acquisition of generic drug producer Dava Pharmaceuticals for $600 million.
Aparna Krishnan, MS, GlobalData's Analyst covering Healthcare Industry Dynamics, says: “Endo International announced its acquisition of generic drug producer Dava Pharmaceuticals for $600 million. The move will significantly boost Endo International’s presence in the $200 billion global generics market by adding 13 marketed products and 25 pipeline products. This is Endo’s third acquisition in the generics market following Qualitest in 2010 and South African firm Boca Pharmacal in early 2014.
“The strategic buyout helps strengthen Endo’s corporate position as an integrated pharmaceutical and healthcare solutions provider. Significantly, Endo International accelerated its expansion strategy in 2013, primarily through inorganic means, adding assets to aid its geographical and therapeutic presence. The Dava Pharma buyout is the second largest in value at $600 million after Paladin Labs in 2013 for $1.6 billion.
“Dava Pharma’s inclusion into Endo International’s group of subsidiaries is likely to trigger streamlining attempts, mostly involving Qualitest. The target firm’s strong product marketing in the US will add to Endo’s domestic generic sales, which stood at $212 million in the first quarter of 2014. The purchase of Dava Pharma will help Endo to achieve its full year 2014 revenue target of $2.55-2.64 billion.”
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