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Endo International plc (ENDP)

  • Sun, Feb. 22, 6:53 AM
    • Valeant Pharmaceuticals (NYSE:VRX) has agreed to buy Salix Pharmaceuticals (NASDAQ:SLXP) for about $10.1B, or $158 per share in cash, Bloomberg reports.
    • Two other drugmakers were rumored to be on the hunt for Salix prior to the newly reported deal, including Endo International (NASDAQ:ENDP) and Shire (NASDAQ:SHPG).
    • On Friday, Salix shares rose $7.11 to $157.85, almost completely eliminating any premium in the purchase price.
    • Separately, Valeant received approval to buy the assets of bankrupt Dendreon (OTCPK:DNDNQ) for $495M. Dendreon is best known for its prostate cancer vaccine, Provenge.
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  • Mon, Feb. 16, 5:50 PM
    • A person close to the matter says Endo International (NASDAQ:ENDP) is and has been interested in acquiring Salix Pharmaceuticals (NASDAQ:SLXP). It has apparently sent Salix several letters stating its interest in a transaction, but Salix has yet to respond.
    • Valeant Pharmaceuticals (NYSE:VRX) and Shire (NASDAQ:SHPG) are also rumored to be in hunt for the maker of products that treat gastrointestinal disorders.
    • Previously: Valeant close to a bid for Salix (Feb. 12)
    • Previously: Shire now on the hunt for Salix (Feb. 13)
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  • Thu, Jan. 29, 5:10 PM
    • Endo International (NASDAQ:ENDP) finalizes its $2.6B takeout of Auxilium Pharmaceuticals. Auxilium's shareholders approved the deal on January 27.
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  • Nov. 19, 2014, 11:55 AM
    • The U.S. Federal Trade Commission terminates the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for Endo International's (ENDP -0.8%) intended acquisition of Auxilium Pharmaceuticals (AUXL +0.6%).
    • As previously announced, Endo will acquire all of the outstanding shares of Auxilium for $33.25 in a cash-and-stock deal valued at $2.6B. The transaction should close in Q1 2015.
    • Previously: Auxilium agrees to sale to Endo for $2.6B
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  • Oct. 9, 2014, 6:48 AM
    • The stock and cash deal works out to a price of $33.25 for each share of Auxilium (NASDAQ:AUXL) vs. last night's close of $29.76, and represents a 55% premium to AUXL's closing price on Sept. 16, the day Endo International (NASDAQ:ENDP) made public its purchase proposal.
    • Endo's earlier rejected bid had been for $2.2B.
    • Auxilium owners may elect to receive consideration of all stock (0.488 ENDP shares for each share of AUXL), or all cash, or an equal mix of stock and cash.
    • Source: Press Release
    • Previously: Auxilium says Endo offer a bit light but is willing to talk
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  • Sep. 22, 2014, 12:18 PM
    • Auxilium Pharmaceuticals' (AUXL -0.3%) BOD says that Endo International's (ENDP -1.7%$2.2B bid "significantly undervalues" the company. Despite implementing a poison pill takeover defense, it says that it maintains the right to engage in discussions with Endo. ENDP says that it is willing to work with AUXL on a deal.
    • A marriage with Endo would probably scupper Auxilium's agreement to merge with Canadian eye drug manufacturer QLT, Inc.
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  • Sep. 16, 2014, 5:32 PM
    • Endo International (ENDP +0.9%) submits a proposal to Auxilium Pharmaceuticals (AUXL -1.6%) to acquire it for $28.10 per share in cash. The total value of the transaction would be $2.2B or a 31% premium to today's closing price.
    • AUXL is up 42% AH on robust volume. ENDP is up 5% AH on heavy volume.
  • Jun. 24, 2014, 11:45 AM
    • Endo International plc (ENDP +3.7%) acquires privately-held DAVA Pharmaceuticals for $575M in cash. There is an additional consideration of $25M contingent on certain sales milestones.
    • According to its website, DAVA offers 11 generic products including acyclovir, albuterol, ampicillin and methotrexate.
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  • Jan. 21, 2014, 7:30 AM
    • NuPathe (PATH) has terminated its agreement to be bought by Endo Health Solutions (ENDP) and will instead recommend that shareholders approve Teva's (TEVA) offer of $3.65 a share, or approximately $144M.
    • Endo had bid $2.85.
    • Teva will pay another $3.15 a share depending on sales of Nupathe's Zecuity treatment, the only FDA-approved prescription migraine patch. Endo also offered that amount in milestone payments. (PR)
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  • Jan. 8, 2014, 7:31 AM
    • Teva (TEVA) has offered to buy Nupathe (PATH) for $3.65 a share, well above a bid of $2.85 from Endo Health Solutions (ENDP).
    • Teva would pay another $3.15 a share depending on sales of Nupathe's Zecuity treatment, the only FDA-approved prescription migraine patch. Endo also offered that amount in milestone payments.
    • Nupathe's board believes that Teva's offer "is reasonably expected to lead to a superior proposal" and will hold talks with the Israeli company, which is looking for new drugs to offset the upcoming Copaxone patent cliff.
    • NuPathe's shares closed at $3.23 yesterday, giving it a market cap of $101.2M.
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  • Dec. 16, 2013, 7:12 AM
    • Endo Health Solutions (ENDP) has agreed to acquire NuPathe (PATH) for an upfront payment of $105M, with Endo's offer of $2.85 well above NuPathe's close of $2.30 on Friday.
    • The latter's shareholders will receive up to an additional $3.15 a share depending on sales of the company's Zecuity treatment, the only FDA-approved prescription migraine patch. Endo expects to launch the therapy in H1 2014.
    • Endo expects "meaningful cost synergies" from the deal and for it to add to the company's adjusted EPS within the first 12 months of closing.
    • Endo said the acquisition is "well aligned" with its strategy of "acquiring late-stage products for commercialization." (PR)
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  • Nov. 5, 2013, 7:28 AM
    • Endo Health Solutions (ENDP) has agreed to acquire Canadian peer Paladin Labs (PLDLF) for about $1.6B in a cash and stock deal that will expand Endo's presence in emerging markets as well as in Canada.
    • Endo will pay C$77 ($73.98) a share, representing a premium of over 20% to Paladin's close yesterday.
    • Endo expects the deal to be immediately accretive to its 2014 adjusted EPS.
    • Endo's shares are +2.3%. (Endo's Q3 earnings). (PR)
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  • Aug. 28, 2013, 8:31 AM
    • Endo Health's (ENDP) Qualitest unit has to agreed to acquire privately held Boca Pharmacal for $225M.
    • Endo is attracted by the specialty generics company's product portfolio and attractive pipeline, with the deal building on Qualitest's "strength in controlled substances."
    • Boca Pharmacal is expected to generate EBITDA of $50M this year, and Endo expects the deal to be immediately accretive to its adjusted EPS.
    • The acquisition is the first of several that Endo plans to make as it turns into a "more focused specialty healthcare company." (PR)
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  • Jul. 28, 2013, 3:56 PM
    • Elan (ELNmay announce a sale of the company as early as Monday.
    • Perrigo (PRGO) is the frontrunner, Bloomberg says, citing the ubiquitous "people familiar with the matter," although no final decision has been made.
    • Allergan (AGN) and Mylan (MYL) are listed as other possible suitors.
    • Previous reports suggested AGN and Forest Labs (FRX) were interested, but MYL and Endo Health (ENDP) were not.
    • Luck of the Irish: A U.S.-based acquirer could "re-domicile itself in Ireland, where the rate of corporate income tax is 12.5%."
  • Jan. 31, 2013, 4:58 AM
    Endo Health (ENDP) closed +10.8% yesterday following a report that it has held buyout discussions with potential suitors such as Warner Chilcott (WCRX) and Valeant (VRX). Endo, which is looking for a CEO and has a market cap of $3.6B, is not holding an official auction process at the moment.
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  • Oct. 3, 2011, 10:19 AM
    Valeant Pharmaceuticals (VRX -1.4%) says buyout target Afexa Life Sciences (AFXSF.PK) has unanimously backed its all-cash takeover offer after the company raised its bid to quickly trump a competing offer from Paladin Labs (PLDLF.PK).
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Company Description
Endo International PLC is a specialty healthcare company engaged in developing, manufacturing, marketing and distributing branded pharmaceutical and generic products as well as medical devices.