Endo Completes Par Pharma Acquisition, Updates FY15 EPS View - Quick Facts

(RTTNews) - Specialty pharmaceutical company Endo International plc (ENDP, ENL.TO) Monday said it completed the acquisition of Par Pharmaceutical and that it maintained its upper end of 2015 guidance for adjusted earnings from continuing operations.

Endo completed the Par acquisition, after the Federal Trade Commission unanimously approved the consent order, where in Endo agreed to divest its glycopyrrolate and methimazole products to Rising Pharmaceuticals.

Endo's combined U.S. Generics segment, comprising Par Pharmaceutical and Qualitest, will be named Par Pharmaceutical, led by Paul Campanelli, former CEO of Par.

Endo purchased Par for $8.05 billion, comprising about 18 million in shares and $6.50 billion in cash. The deal was financed by a combination of cash, debt and proceeds from a $2.3 billion equity offering completed in June 2015.

In addition, Endo expects third-quarter revenue of $720 million - $740 million, with net results of operations from Par not expected to have a material impact on the results.

For the full year 2015, Endo now expects adjusted earnings per share from continuing operations of $4.50 - $4.60, compared to prior guidance of $4.40 - $4.60. Total revenue is expected to be between $3.22 billion and $3.27 billion. The Street currently expects earnings per share of $4.52 for 2015.

However, for full year 2016, Endo estimates adjusted earnings per share from continuing operations of $5.85 - $6.15, while analysts foresee earnings of $5.71 per share.