Endo spends $130 million on portfolio of products; posts 1st-qtr financials

US drugmaker Endo International (Nasdaq: ENDP) has acquired a broad portfolio of branded and generic injectable and established products focused on pain, anti-infectives, cardiovascular and other specialty therapeutics areas from a subsidiary of South Africa’s leading pharma company Aspen Holdings (JSE: APN). Endo’s shares rose 2.3% to $89.25 in pre-market trading.

The transaction is expected to meaningfully expand Endo's presence in South Africa by adding a product portfolio that generated around $28 million of revenue during the fiscal year ended June 30, 2014, as well as a sizeable pipeline of products in various phases of development that are expected to launch over the next several years. For 2015, Endo anticipates that earnings before interest, taxes, depreciation and amortization (EBITDA) to be generated by the acquired portfolio will translate into a transaction multiple of less than 10 times EBITDA on a post-synergized basis.