Pharma BD Deal Intelligence

Endo Health Solutions Inc. / Boca Pharmacal, LLC

2014 · Acquisition/Merger · $225M · Complete

WRONG BY 54 POINTS
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The coverage arc

Aug 28, 2013 GEN (Genetic Engineering & Biotechnology News) Bullish

Boca was projected to deliver ~$50M EBITDA in FY2013 and be immediately accretive to Endo's adjusted diluted EPS — framed as the first of several roll-up…

Aug 29, 2013 Pharmaceutical Technology Neutral

Endo 'has reached an agreement to purchase privately-held Boca Pharmacal for $225m to improve its generics business, as a result of two of its biggest drugs…

Jan 31, 2014 Federal Trade Commission Neutral

FTC conditioned the deal on divestiture of four generic pediatric multivitamin-with-fluoride drop products (PolyViFlor, TriViFlor variants) plus three pipeline…

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

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Endo's Qualitest subsidiary closed its $225M cash acquisition of privately held specialty generics company Boca Pharmacal, expanding its niche generics franchise in controlled substances and semi-solids. FTC required divestiture of certain generic multivitamin fluoride drops to clear the deal.

Did it work? Outcome assessment

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

Key facts

Related deals — scored

DealYearValueOutcome
Endo Health Solutions Inc. / Boca Pharmacal, LLC (this deal)2014$225M21
Endo Health Solutions Inc. / Paladin Labs Inc.2013$1.6B28
Endo Health Solutions Inc. / Boca Pharmacal, LLC2013$225M19
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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