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Endo closes acquisition of Paladin Labs
February 28th, 2014
DUBLIN, Ireland – Endo Health Solutions Inc. has finalized its acquisition of Paladin Labs Inc. in a $2.7 billion stock-and-cash deal.
Endo said Friday that under the agreement, announced in November, Endo and Paladin Labs have been combined under a new company named Endo International plc, incorporated in Ireland.
Shares of Endo International plc will trade on Nasdaq exchange under the ticker symbol ENDP and on the Toronto Stock Exchange under the ticker symbol ENL.
A specialty pharmaceuticals company, Paladin focuses on acquiring or in-licensing innovative pharmaceutical products for the Canadian and world markets. Its key products serve growing drug markets, including ADHD, pain, urology and allergy, with a strong pipeline of new product launches over the next 12 months.
"The combination of Endo and Paladin Labs accelerates Endo's transformation into a leading global specialty health care company and establishes a platform for additional strategic acquisitions," stated Rajiv De Silva, president and chief executive officer of Endo. "Endo will continue with a sharp strategic focus, lean operating model and improved execution of core businesses. Strategic acquisitions will also continue to play a key role in maximizing our growth potential and creating value for Endo International shareholders."