Endo to acquire DAVA Pharmaceuticals for $575M Endo announced that it has reached a definitive agreement to acquire DAVA Pharmaceuticals, a privately-held company specializing in marketed, pre-launch and pipeline generic pharmaceuticals, for $575M in cash, with additional cash consideration of up to $25M contingent on the achievement of certain sales milestones. The acquisition enhances Endo's attractive commercialization and development platform and is expected to be immediately accretive to Endo's 2014 adjusted EPS. DAVA operates a highly-profitable generics franchise with 2013 revenue of approximately $131M and 2013 adjusted EBITDA of approximately $100M. The company also expects over 5 products to be launched in 2015, and more than 20 additional products to be launched over the next several years. The transaction is subject to requisite regulatory approvals and customary closing conditions, and is expected to be completed in the second half of 2014.
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