Endo Pharmaceuticals has agreed to buy fellow US firm Indevus Pharmaceuticals for as much as $637.0 million, in a deal that will add 100 representatives to its sales force and expand its portfolio beyond pain management.
Endo will initially pay $4.50 a share, or about $370.0 million in total, for the Lexington, Massachusetts-based firm whose products include treatments for overactive bladder, prostate cancer and central precocious puberty, with drugs for hypogonadism and bladder cancer nearing approval. The initial price offered is 45% above Indevus' $3.10 closing price at 4pm New York on the day the deal was announced, January 5.
Under the terms of the deal, Endo will pay an additional $3 per share, valued at an extra $267.0 million, if Indevus meets certain regulatory and sales milestones.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Sign up to receive email updates
Join industry leaders for a daily roundup of biotech & pharma news
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze