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MALVERN, Pa. - Endo, Inc. (OTCQX: NDOI), a pharmaceutical company with annual revenue of $1.73 billion, has completed the divestiture of its International Pharmaceuticals business to Knight Therapeutics Inc., according to a press release statement issued Tuesday.
The transaction, which primarily involved the Canada-based specialty pharmaceutical company Paladin Pharma Inc., is valued at up to $105 million, representing about 6.5% of Endo’s current market capitalization of $1.6 billion. The deal structure includes approximately $79 million paid at closing, $11 million related to permitted holdbacks, and up to $15 million in potential future payments contingent on achieving certain milestones. According to InvestingPro, Endo maintains a healthy current ratio of 2.96, indicating strong short-term liquidity despite operating with significant debt.
This divestiture follows a previously announced agreement between the two companies. The International Pharmaceuticals business was primarily operated through Paladin Pharma, a Canada-based specialty pharmaceutical company.
Endo, a diversified pharmaceutical company based in Malvern, Pennsylvania, trades on the OTCQX market under the ticker symbol NDOI.
The company did not provide specific details about how the proceeds would be used or the strategic rationale behind the divestiture in its announcement.
The transaction represents a significant change in Endo’s international footprint as it adjusts its business portfolio. Knight Therapeutics, the acquirer, gains Endo’s established international pharmaceutical operations through this deal.
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