Endo International To Acquire DAVA Pharmaceuticals - Quick Facts

(RTTNews) - Specialty healthcare company Endo International plc (ENDP, ENL.TO) announced that it agreed to acquire DAVA Pharmaceuticals, Inc., a privately-held company specializing in marketed, pre-launch and pipeline generic pharmaceuticals, for $575 million in cash, with additional cash consideration of up to $25 million contingent on the achievement of certain sales milestones.

Endo said that the acquisition enhances its attractive commercialization and development platform and is expected to be immediately accretive to Endo's 2014 adjusted earnings per share.

DAVA operates a highly-profitable generics franchise with 2013 revenue of approximately $131 million and 2013 adjusted EBITDA of approximately $100 million.

The transaction is subject to requisite regulatory approvals and customary closing conditions, and is expected to be completed in the second half of 2014.