Statements including words or phrases such as "believe," "expect," "anticipate," "intend," "estimate," "plan," "will," "may," "look forward," "intend," "future," "potential" or similar expressions are forward-looking statements. Sims and any statements related to the expansion of Endo's product pipeline or the acquisition, timing, development, approval, launch or commercialization of any products. For additional information please visit Forward-Looking StatementsĬertain information in this press release may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation including, but not limited to, the statements by Mr. The Company has active programs in critical patient care, acute pain management, long acting injectables, and hospital injectables.
Nevakar Injectables is developing a broad portfolio of injectable products for use in the hospital and ambulatory care settings. is a wholly owned subsidiary of Nevakar, Inc., a fully integrated privately held, late-stage biopharmaceutical company with an extensive portfolio of products in the ophthalmic and injectable areas. Learn more at connect with us on LinkedIn. Together, we boldly transform insights into treatments benefiting those who need them, when they need them. Our decades of proven success come from passionate team members around the globe collaborating to bring the best treatments forward. This may reduce waste and costs, optimize convenience and workflow and reduce the chance for preparation error-all of which support quality patient care.Įndo (NASDAQ: ENDP) is a specialty pharmaceutical company committed to helping everyone we serve live their best life through the delivery of quality, life-enhancing therapies. Ready-to-use, or RTU, products help streamline operations for hospitals by eliminating the need to prepare or transfer the product before patient administration. This acquisition is separate from Endo's previously announced exclusive licensing agreement with Nevakar. The one-time payment is expected to be expensed immediately in the second quarter as acquired in-process research and development costs. Under the terms of the agreement, EVL purchased the six product candidates from Nevakar Injectables for a one-time payment of $35 million. Endo's Par Sterile Products business will commercialize the products in the United States. With the acquisition, Endo controls all remaining development, approval, launch and commercialization activities for these product candidates. The product candidates are in various stages of development, with the first launch expected in 2025. "We look forward to further developing and bringing these durable and differentiated products to market-and to the healthcare providers and patients who need them." We look forward to the opportunities ahead for our combined generics business."These six product candidates that would be used in critical care settings meaningfully expand Endo's ready-to-use injectable product pipeline," said Scott Sims, Senior Vice President and General Manager, Injectable Solutions & Generics at Endo. "I would like to take the opportunity to thank the leadership team and the hard-working employees at Qualitest for continuing to drive the business forward and deliver year-over-year double-digit growth during this period of transition. "We are also pleased to welcome Paul Campanelli, former CEO of Par Pharmaceutical, as group president, Par Pharmaceutical to the Endo executive leadership team and are excited about his anticipated contributions to the organisation. Par former CEO Paul Campanelli is joining Endo’s executive leadership team as the new business unit’s group president.Įndo president and CEO Rajiv De Silva said: "We are pleased to announce the completion of this transformational acquisition that has strategically expanded our product portfolio, R&D pipeline, manufacturing and technology capacity and generics expertise for the benefit of patients, customers and shareholders. "The purchase price for Par consisted of 18 million shares of Endo equity and $6.5bn in cash."
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