Endo acquires US generics’ giant Qualitest

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Endo acquires US generics’ giant Qualitest

Home/Pharma News | Posted 26/11/2010 0 Post your comment

Endo Pharmaceuticals is buying US generics’ giant Qualitest Pharmaceuticals for about Euros 850,000 in cash to expand its portfolio of pain drugs. This is its second acquisition in as many months; last month it acquired Penwest Pharmaceuticals for just over Euros 100 million. Shares in US-based Endo were on the rise following the news.

Qualitest is the sixth largest generics company in the US by number of prescriptions filled. The acquisition brings a broad range of generics to Endo, as well as an extensive pipeline of abbreviated new drug applications pending with the FDA for generic medicines, with at least 46 awaiting marketing approval. Endo believes the purchase will bring ‘critical mass’ to its existing generics business, further diversify business lines and, in particular, boost its portfolio of pain drugs.

More than 90% of all pain prescriptions are now filled by generic drugs in the Euros 10.8 billion US pain market. Around 40% of Qualitest’s revenues come from pain products. The enlarged company will have revenues of about Euros 1.4 billion and more than 3,000 employees.

References

Endo Pharmaceuticals Press Release. Endo Pharmaceuticals Announces Agreement to Acquire Qualitest Pharmaceuticals for $1.2 Billion. 28 September 2010.

Endo Pharmaceuticals Press Release. Endo Pharmaceuticals Agrees to Acquire Penwest Pharmaceuticals and Submits NDA For New Formulation of Long-Acting Oxymorphone Designed to be Crush-Resistant. 9 August 2010.