Endo Health Solutions’ Qualitest subsidiary has reached an agreement to acquire Boca Pharmacal, a specialty generics company, for $225 million in cash. The acquisition will expand Endo's Qualitest business platform and pipeline of specialty products.
Boca Pharmacal focuses on niche areas, developing products such as controlled substances, semisolids and solutions. The transaction, subject to standard regulatory requirements, is expected to close before the end of the year.
"The acquisition of Boca Pharmacal is the first of several transactions we plan 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," said Rajiv De Silva, president and chief executive officer of Endo. "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."