Endo sells Litha’s non-core business to enhance focus on specialty pharmaceuticals
USA-based Endo International (Nasdaq: ENDP) on Wednesday said it is selling the device, vaccine and other non-core products business of its South African unit, Litha Healthcare Group, for an undisclosed amount. The company in a statement said the sale to a consortium of companies is in line with its plan to focus on pharmaceutical products.
The consortium comprises Westrate Trade and Invest Proprietary and Immunotek. The deal is expected to be completed in the fourth quarter of 2015 and will not have any material impact on Endo's full year results.
Rajiv De Silva, chief executive of Endo, said: "This divestiture is the result of our strategic portfolio review and designed to focus efforts and resources on targeted growth priorities where Endo can make the most difference for patients."
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