Endo International has picked up “a broad portfolio of branded and generic injectable and established products” from South African drugs giant Aspen Pharmacare for around $130 million.
The Dublin, Ireland-headquartered group said the products cut across numerous therapy areas, including pain, cardiovascular and anti-infectives, giving the firm a much stronger foothold in South Africa as well as access to a portfolio pulling in around £28 million a year.
The deal also gives Endo “a sizeable pipeline of products in various phases of development” that are expected to launch over the next several years, further helping aspirations to grow its international business to around 25% of corporate revenues in the longer term.
The products will be incorporated into Endo's Litha Healthcare Group portfolio, and are expected to increase Litha's pro-forma 2015 revenues by 30% and pro-forma pharmaceutical product revenues by 60%, Endo said.
News of the deal came as Endo released its quarterly financials, booking earnings per share of $1.17 (from continuing operations) beating the analysts’ consensus estimate of $1.06, according to AnalystRatings.NET.
First quarter sales were $714.00 million, up 52% from a year ago after being given a helping hand from new product revenues and strategic M&A transactions.