Pharma BD Deal Intelligence

Endo Health Solutions Inc. / Boca Pharmacal, LLC

2013 · Acquisition/Merger · $225M · Complete

WRONG BY 73 POINTS
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Ranks computed across 828 graded deals (Critic + Outcome Score both present).

The coverage arc

Aug 28, 2013 Endo Health Solutions Form 8-K (Exhibit 99.1, press release) Bullish

$225 million all-cash deal characterized as immediately accretive to 2013 adjusted diluted EPS, with Boca expected to generate approximately $50 million of…

Aug 29, 2013 Drug Development & Delivery Bullish

The $225M deal at ~4.5x projected 2013 EBITDA was characterized as a disciplined niche-generics tuck-in extending Qualitest's controlled substances and…

Jan 31, 2014 US Federal Trade Commission Neutral

FTC complaint required limited divestitures of overlapping ANDA products to preserve competition before clearing Endo's Boca Pharmacal acquisition — resolution…

Source summaries from our enrichment pipeline; follow links for originals.

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Endo's Qualitest subsidiary to acquire Boca Pharmacal for ~$225M cash; added niche specialty generics (controlled substances, semisolids, solutions); expected $50M 2013 EBITDA.

Did it work? Outcome assessment

Strategic verdict
Failed to Achieve
Financial impact
Impaired/Written Down
Pipeline outcome
Assets Stalled

Key facts

Related deals — scored

DealYearValueOutcome
Endo Health Solutions Inc. / Boca Pharmacal, LLC (this deal)2013$225M19
Endo Health Solutions Inc. / Paladin Labs Inc.2013$1.6B28
Endo Health Solutions Inc. / Boca Pharmacal, LLC2014$225M21
Endo Health Solutions Inc. / NuPathe Inc.2013$271M
Watson Pharmaceuticals (Actavis Inc.) / Actavis plc2012$5.9B97
Kohlberg Kravis Roberts & Co. / PRA International (Genstar Capital)2013$1.3B91
Stryker Corporation / MAKO Surgical Corp.2013$1.6B91

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