Endo to buy generics maker DAVA

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Specialty pharmaceuticals maker Endo Health Solutions (Endo) announced on 24 June 2014 that it had reached a definitive agreement to acquire generics maker DAVA Pharmaceuticals for US$575 million in cash, with another US$25 million up for grabs depending on the achievement of certain sales milestones.

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Endo, which makes both brand-name and generic drugs, is set on increasing its generics portfolio and sees the acquisition of DAVA as a ‘natural fit’ for Endo’s generics business. DAVA has an attractive existing commercial portfolio and near-term pipeline, according to Endo.

DAVA operates a highly profitable generics franchise with 2013 revenue of approximately US$131 million and 2013 adjusted earnings of approximately US$100 million. The company DAVA's portfolio includes 13 marketed products in a variety of therapeutic areas. In addition, DAVA also has a promising product pipeline across a multitude of therapeutic categories, including recent launches of generic versions of the antibiotics doxycycline and cefdinir. The company also expects to launch more than five products in 2015 and more than 20 additional products in the coming years.

This is not the first purchase Endo has made in the generics arena. The company bought specialty generics maker Boca Pharmacal (Boca) for US$225 million in August 2013 [1].

The current acquisition is also likely not to be Endo’s last in this area. Endo’s President and CEO, Mr Rajiv De Silva, said that ‘strategic acquisitions will continue to play a key role in maximizing our growth potential’.

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1. GaBI Online - Generics and Biosimilars Initiative. Endo to buy specialty generics drugmaker Boca Pharmacal [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2014 Aug 1]. Available from: www.gabionline.net/Pharma-News/Endo-to-buy-specialty-generic-drugmaker-Boca-Pharmacal

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Source: Endo

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