This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Endo To Acquire Specialty Pharmaceuticals Company Somar

DUBLIN, April 29, 2014 /PRNewswire/ -- Endo International plc (NASDAQ: ENDP) (TSX: ENL) today announced it has entered into a definitive agreement under which Endo will acquire Grupo Farmaceutico Somar ("Somar"), a leading privately-owned specialty pharmaceuticals company based in Mexico City, Mexico, for cash consideration.  Endo expects the transaction to be immediately accretive to adjusted earnings per share.

"The acquisition of Somar is well-aligned with our goal of pursuing accretive acquisitions that enhance Endo's strategic positioning and diversifying our pharmaceutical business beyond the U.S. by accessing attractive emerging markets" said Rajiv De Silva, president and CEO of Endo.  "The transaction provides Endo with a strong growth platform in Mexico that we believe can be further leveraged more broadly in Latin America, a proven sales team, and scalable manufacturing facilities.  This acquisition allows us to fully benefit from the starting point that Paladin Labs established in Mexico.  We look forward to leveraging Endo's global resources to take full advantage of Somar's robust pipeline, which currently includes over 60 products expected to launch over the next 3 years."

Jose Miguel Ramos R., chief executive officer of Somar, stated, "We are excited about the combination with Endo, joining a best-in-class global organization with access to valuable resources that will help us realize the full potential of our opportunities across branded, generic, and OTC pharmaceuticals in Mexico and Latin America more broadly.  Our team is dedicated to developing and marketing new and effective treatments that improve patients' lives.  I am confident that Endo's commitment to building sustainable businesses will be invaluable as we continue forward with our mission."

Somar is a leading pharmaceutical company focused on the development, manufacturing, marketing and commercialization of high-quality products across all key market segments in Mexico.  Its portfolio targets Mexico's non-patented pharmaceutical market through 3 primary segments: Generics (private label and traditional generics, as well as products for government tender), Branded generics (dermatology and infectious disease platforms), and OTC (women's health and child care products).  The Company generated approximately $100 million of revenue in 2013 and has approximately 1,200 employees.

The transaction is subject to customary conditions, including the receipt of applicable antitrust/competition approvals.  It is expected to close in the third quarter of 2014.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,955.91 +43.62 0.26%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,758.39 -32.7620 -0.68%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs