Endo Health To Buy Privately Held Generics Firm Boca Pharmacal For $225 Mln Cash

(RTTNews) - Endo Health Solutions(ENDP), Wednesday said its Qualitest unit reached a definitive agreement to buy privately held specialty generic drugs company, Boca Pharmacal, for $225 million cash. The transaction, scheduled to close before the end of 2013, will be financed with cash on hand, Endo said in a statement. The deal is expected to immediately add to Endo's 2013 adjusted earnings per share.

Boca Pharmacal's commercial footprint and R&D pipeline are a strong complement to Qualitest, Endo said.

"The acquisition is aligned with our current generics footprint and will meaningfully accelerate the growth of Qualitest in 2014. I believe that the revenue and earnings contribution of this transaction, combined with the unique commercial portfolio and strong pipeline of ANDAs, make this an ideal fit," said Rajiv De Silva, president and CEO of Endo.