CHADDS FORD, Pa. Endo Pharmaceuticals will acquire generic drug maker Qualitest Pharmaceuticals for $1.2 billion, Endo said Tuesday.
Endo said the purchase of privately owned Qualitest would expand its offering of branded drugs, generics, devices and services in areas such as pain and urology. Qualitest is the sixth largest generic drug company in the United States, as measured by prescriptions filled.
“This is an exciting day for Endo,” Endo president and CEO David Holveck said. “The acquisition of Qualitest accelerates our stated strategy of building a diversified healthcare company better able to respond to the changing economics that drive the U.S. healthcare environment.”