MALVERN, Pa. – A subsidiary of Endo Health Solutions is buying Boca Pharmacal for $225 million, Endo said Wednesday.
The Malvern, Pa.-based drug maker said the acquisition, through its Qualitest generics subsidiary, would give it access to a "unique" portfolio of generic drugs, an attractive pipeline and would build on Qualitest's strength in controlled substances. Boca focuses on niche areas, commercializing and developing drugs that include controlled substances, semisolids and solutions.
"The acquisition of Boca Pharmacal is the first of several transactions we expect to execute as we transform Endo into a more focused specialty healthcare company with a lean operating model, able to deliver consistent earnings and revenue growth for our shareholders," Endo CEO Rajiv De Silva 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."