Endo bid for Canadian drug maker clears regulatory hurdle

Waiting periods required under U.S., Canadian law terminated early

MALVERN, Pa. — Endo announced Thursday that regulatory waiting periods in the United States and Canada related to its plans to acquire a Montreal-based drug maker have been terminated.

Endo said that the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act and a similar period required under the Canadian Competition Act had been terminated, allowing it to move ahead with its purchase of Paladin Labs. The plan remains subject to additional regulatory and other conditions, including approval by the companies' shareholders and an approval by the Superior Court of Quebec.

Endo said last month it would acquire Paladin Labs for $1.6 billion. Paladin specializes in treatments for attention deficity hyperactivity disorder, urology and other indications. The company will continue to operate under its present name after the acquisition is complete.

 

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